The Optsee® Optimizers: Solving the Rubik's Cube Of Project Selection

A Rubik's cube has billions of possible configurations.rubik's cube And so does any portfolio containing more than 30 projects. Optimization involves finding the most valuable set of projects to work on within a set of constraints such as limited funds, resources, and time.

Trying to optimize a portfolio of dozens of projects simultaneously can quickly become a rat's nest of conflicting priorities, deadlines, project dependencies, and budget constraints. Competing agendas and objectives, poorly defined priorities, and insufficient metrics often lead to meetings and analyses that take way too much time and end up with results that aren't even close to optimal.

For example, suppose you have 35 worthy projects that would cost a total of $50 million and would require 30 full-time employees, but you only have a budget of $20 million and 22 full-time employees. And what if you want to have a minimum ROI of 15%? In just 35 projects, you have more than 34 billion(!) possible project portfolios to choose from!

So how do you choose?

The built-in Optimizers in Optsee® Pro and Optsee® Plus can get this optimization done quickly, and give you a rigorously optimized result. At the end of the process, you'll know exactly what your best portfolios are.

Optimization Forms in Optsee® Pro Make Running Optimizations and Comparing Portfolios Easy:

project portfolio optimization forms

For example, one of our pharmaceutical clients was trying to prioritize and manage more than 60 tech services projects from different departments such as Regulatory Affairs, Manufacturing, and Research and Development. His project lists changed daily (sometimes hourly!), and the departments often thought that their latest project should immediately become his top priority. So he and his staff were constantly fire-fighting, switching from one project to the next, and never certain that they were working on right set of projects for the business as a whole.

We showed him how to prioritize and apply the right business metrics to his project portfolio to have optimized capital and resource allocation, transparent prioritization, and a much more productive organization.

The Optsee® Pro Optimizer™ has three built-in optimizers including a proprietary "genetic" optimizer, a "branch and bound" optimizer, and a "brute force" optimizer (for very small portfolios). These optimizers can find an optimized or near-optimal set of projects that satisfies up to 100 different constraint limits, including minimum, maximum, and average constraints. You can also maintain dependencies between projects and "force-in" and "force-out" projects. The "genetic" optimizer, a "branch and bound" optimizers allow you to quickly and efficiently test millions or billions of possible combinations of choices, if necessary, to determine an optimized set that meets your constraints. You can also save the results of different optimizations to compare different constraint combinations.

The Optsee® Plus Optimizer™ has a "branch and bound" optimizer that can find an optimized portfolio that satisfies up to 100 different constraint limits, including minimum, maximum, and average constraints. The Optsee® Plus Optimizer™is built primarily for project portfolios containing less than 35 projects, and does not include the capability to optimize against project dependencies or "forced-in" and "forced-out" projects.

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