# A multiple criteria methodology for priority based portfolio selection

## TL;DR

This paper introduces a new methodology combining multi-criteria ranking with project portfolio selection, considering priorities, resource constraints, and logical constraints, demonstrated through urban planning and cultural heritage projects.

## Contribution

It presents a novel integrated approach for project prioritization and selection that accounts for multiple criteria and various constraints, applicable in urban planning and heritage conservation.

## Key findings

- Effective prioritization of urban projects based on multiple criteria.
- Successful application to cultural heritage interventions in Naples.
- Supports decision-making considering resource and logical constraints.

## Abstract

This paper presents a new methodology that combines a multiple criteria sorting or ranking method with a project portfolio selection procedure. The multicriteria method permits to compare projects in terms of their priority assessed on the basis of a set of both qualitative and quantitative criteria. Then, a feasible set of projects, i.e. a portfolio, is selected according to the priority defined by the multiple criteria method. In addition, the portfolio must satisfy a set of resources constraints, e.g. budget available, as well as some logical constraints, e.g. related to projects to be selected together or projects mutually exclusive. The proposed portfolio selection methodology can be applied in different contexts. We present an application in the urban planning domain where our approach allows to select a set of urban projects on the basis of their priority, budgetary constraints and urban policy requirements. Given the increasing interest of historical cities to reuse their cultural heritage, we applied and tested our methodology in this context. In particular, we show how the methodology can support the prioritization of the interventions on buildings with some historical value in the historic city center of Naples (Italy), taking into account several points of view.