关键词: 项目组合选择, 净现值, 效用, 资金现值

Abstract: In recent years, project portfolio selection problem has attracted much attention,and how to select the right project portfolio to satisfy the long-term development strategy of enterprise has become an important thing. Therefore, this paper builds a bi-objective project portfolio selection model, namely the maximum of net present value and utility on the basis of the divisibility of project. This paper converts the capital constraint to the capital present value. By doing this, this model becomes simple. Finally, one numerical example is given to illustrate the model. The result shows that the bi-objective project portfolio selection model is more suitable to the long-term development strategy of enterprises, and this model also provides perfect theoretical basement to investment decision-makers for selecting the appreciate projects.

Key words: project portfolio selection, net present value, utility, capital present value