Dynamically integrated project portfolio planning to accommodate asset management plan cycles in the UK water industry

Pakgohar, Alireza; Zhang, David Z.; Ward, Sarah

Abstract

Project Portfolio Planning (PPP) is a hierarchical decision-making process that has been frequently studied in a number of sequential phases such as Project selection, contractor/resource selection, Project scheduling and rescheduling and Supply chain configuration. This paper proposes an integrated approach for modelling and simulating PPP systems to evaluate the behaviour of the portfolio as quickly as possible in response to demand changes and desires of counterpart supply chain. In this work an agent based architecture, is developed, wherein each portfolio resource is represented by an agent. Using autonomous agent methodology enables the resources to manage themselves efficiently and effectively. The agent-based modelling and interaction approach enables a multi layer supply chain of contractors to be allocated to the selected projects dynamically in an optimal manner. By using an agent based discrete event simulation, project selection, resource allocation and project scheduling can occur simultaneously. This paper introduces a novel methodology for integration of agent-based modelling, multi project planning/scheduling, rescheduling, identification of alternative portfolio counterpart supply chain configurations, simulation and analysis of the configurations within an integrated framework for UK water companies in particular, in order to accommodate the Asset Management Plan (AMP) cycle.

• Presentation Conference Type: Conference Paper (published)
• Conference Name: Machine Learning in Water Systems - AISB Convention 2013
• Start Date: Apr 3, 2013
• End Date: Apr 5, 2013
• Acceptance Date: Apr 3, 2013
• Publication Date: Dec 1, 2013
• Peer Reviewed: Not Peer Reviewed
• Pages: 30-34
• Keywords: asset management planning, project portfolio planning, agent based modelling, genetic algorithm
• Public URL: https://uwe-repository.worktribe.com/output/932992
• Publisher URL: http://www.aisb.org.uk/asibpublications/93-aisb/publications/proceedings/91
• Additional Information: Title of Conference or Conference Proceedings : Artificial Intelligence and Simulation of Behaviour Convention 2013