Assessing project criticality in project portfolio: a vulnerability modeling approach

Abstract

Purpose

Assessing project criticality in a project portfolio (PP) is of great practical significance to improve robustness from damage. While project criticality assessment has increased diversity in approaches, the understanding of vulnerable project impacts is still limited. To promote a better understanding of assessing project criticality, a vulnerability measurement model is constructed.

Design/methodology/approach

First, integrating the tasks, projects and corresponding relationships among them, a project portfolio network (PPN) is constructed. Second, the project's vulnerability is measured by combining the topological structure and functional attributes. Third, project criticality is assessed by the vulnerability measurement results. Lastly, the proposed model is applied in a numerical example to illustrate its suitability and effectiveness.

Findings

For academia, this study provides a novel perspective on project vulnerability measurement and expands project criticality assessment tools. For practitioners, the straightforward model provides an effective tool for assessing project criticality and contributes to enhancing project portfolio management (PPM).

Originality/value

The impact of the task on the project is considered in this study. Topological structure and functional attributes are also integrated for measuring project vulnerability due to the impact of random attacks in an uncertain environment, providing a new perspective on the requirements of project criticality assessment and the measurement of project vulnerability.

Citation

Bai, L., Xie, X., Sun, Y., Qu, X. and Han, X. (2024), "Assessing project criticality in project portfolio: a vulnerability modeling approach", Engineering, Construction and Architectural Management, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/ECAM-06-2023-0619