7th annual AIMMS-MOPTA Modeling Competition

The challenge revolves around Project Portfolio Management. Companies are likely to develop several new products at the same time, given the risk of delays or failures on each project, and the need to adapt products to an ever changing marketplace. In the present case, both teams have to create a working model in order to assist management with the selection of projects to pursue, over a three-year horizon, subject to risk constraints. The members of this team were Victor Reijnders, Martijn Schoot Uiterkamp, and Mike Visser, advised by Bodo Manthey. Our approach consisted of generating a large set of possible combinations of “bad luck” which could impact project planning. Our optimization model incorporated these combinations, helping planners assess things that could possibly happen. The winner was announced at the MOPTA Conference banquet in Bethlehem, PA.