Dynamic assessment modelling for project portfolio benefits

Bai, Libiao; Sun, Yichen; Shi, Huijing; Shi, Chunming; Bai, Jieyu; Xiao, Han

doi:10.1080/01605682.2021.1915193

Cited by 24 publications

(26 citation statements)

References 79 publications

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“…This common situation results from a wide range of influencing factors, which are characterized by high volatility, uncertainty and ambiguity. These properties of the factors influencing PPBs increase the difficulties of realizing PPBs, as Bai et al. (2021b) claimed.…”

Section: Introductionmentioning

confidence: 96%

“…Financial benefits play a key role in the field of project portfolio management (PPM). Related streams of research in the field of PPM, such as those on project portfolio selection and project portfolio risk management, all have a common purpose, that is, to realize or increase benefits (Bai et al, 2021b). For example, focusing on the maximization of net present value (NPV), Ranjbar et al (2022) consider the problem of selecting a portfolio from among a set of possible projects.…”

Section: Introductionmentioning

confidence: 99%

“…Owing to their complex relationships, various such factors affect, magnify or diminish the influence of other factors on PPBs. From the perspective of PPBs generation, positive synergistic relationships among factors promote and generate benefits (Bai et al, 2021b). The extent to which a PP can derive additional benefits beyond the sum of the individual factors influencing it depends on the existence of synergistic effect (Zhang et al, 2018).…”

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Analysis of factors influencing project portfolio benefits with synergy considerations

Bai

Xue

Liu

et al. 2022

ECAM

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PurposeRealizing project portfolio benefits (PPBs) is considered a key challenge faced by enterprises. This challenge can largely be attributed to an unclear understanding of the factors influencing PPBs. However, synergistic relationships create complexity for the management of influencing factors. In response to this dilemma, the objective of this study is to quantitatively investigate the factors influencing PPBs while considering the synergistic effect among factors to provide guidelines for benefits management.Design/methodology/approachThrough an integration of the synergy degree of the composite system model and social network analysis (SNA), a refined model is proposed to explore the factors influencing PPBs. First, a list that includes financial and nonfinancial influencing factors is clarified. Then, the corresponding network links, which represent the synergistic relationships among the factors, are innovatively assessed based on the synergy degree of the composite system. Finally, the influencing factor network is analyzed using both individual and overall indicators of SNA.FindingsThe resulting evidence demonstrates that four critical influencing factors exist, namely, “project managers,” “purchasers,” “development capacity” and “tangible resources.” These factors are relatively important and should be prioritized. Furthermore, the factors are divided into three subgroups: participant, resource and governmental factors. A general observation from the results is that factors that share the same subgroup are more likely to have a synergistic effect advantage, which leads to an increase in PPBs.Originality/valueThe value of this paper lies in its proposition of a quantitative model that can be used to measure and analyze the factors influencing PPBs with synergy considerations. This research contributes to the body of knowledge on benefits management by linking synergy with PPBs. It presents new insights for managers on how PPBs may be effectively managed and promoted from the perspective of influencing factors.

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Section: Introductionmentioning

confidence: 96%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Analysis of factors influencing project portfolio benefits with synergy considerations

Bai

Xue

Liu

et al. 2022

ECAM

View full text Add to dashboard Cite

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“…With the rapid development of the global economy and increasing market competition, the requirements for diversified management and the development of organizations have increased, and organizations have proposed higher requirements on the traditional single project management model for the sustainable development of organizations (Bai et al , 2021; Jerbrant and Gustavsson, 2013). In a complex and dynamic environment, the implementation of project portfolios (PPs) has become one of the most important ways to achieve the strategic goal of enterprise diversification development (Liu and Liu, 2017).…”

Section: Introductionmentioning

confidence: 99%

Project portfolio risk analysis with the consideration of project interdependencies

Bai

Shi

Kang

et al. 2021

ECAM

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PurposeComprehensive project portfolio risk (PPR) analysis is essential for the success and sustainable development of project portfolios (PPs). However, project interdependency creates complexity for PPR analysis. In this study, considering the interdependency effect among projects, the authors develop a quantitative evaluation model to analyze PPR based on a fuzzy Bayesian network.Design/methodology/approachIn this paper, the primary purpose is to comprehensively evaluate project portfolio risk considering the interdependency effect using a systematical model. Accordingly, a fuzzy Bayesian network (FBN) is developed based on the existing studies. Specifically, first, the risks in project portfolios are identified from the project interdependencies perspective. Second, a fuzzy Bayesian network is adopted to model and quantify the interaction relationships among risks. Finally, the model is implemented to analyze the occurrence situation and characteristics of risks.FindingsThe interdependency effect can lead to high-stake risks, including weak financial liquidity, a lack of cross-project members and project priority imbalance. Furthermore, project schedule risks and inconsistency between product supply and market demand are relatively sensitive and should also be prioritized. Also, the validity of this risk evaluation model has been proved.Originality/valueThe findings identify the most sensitive risks for guaranteeing portfolio implementation and reveal interdependency effect can trigger some specific risks more often. This study proposes for the first time to measure and analyze project portfolio risk by a systematical model. It can help systematically assess and manage the complicated and interdependent risks associated with project portfolios.

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