Decision-making often involves selecting a "portfolio" of alternatives, rather than a single option. For example, in assembling an IS project team, rather than picking one "best” employee, multiple employees are selected based on various skills to fill different positions. The value of the employees depending not only on their individual competency skills, but also on how well they work as a team. The team synergy is important, and the "value" of the portfolio (i.e. IS project team in this case) is different from the sum of the values of the individual team members. Though many studies have been published on portfolio selection in diverse contexts, most of these studies tend to focus on specific problem environments and cannot easily be generalized. This paper assesses and enhances a previously published, general framework for portfolio decisions with respect to its usefulness in classifying and understanding decision problems.
Yakimin Abdul Talib, Yurita and Weistroffer, Heinz Roland, "Portfolio Selection: Assessment of a Framework" (2011). SAIS 2011 Proceedings. 2.