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At each control (decision) point, this data support system enables \u2019optimizing\u2019 each project planning subject to alternative determinations of time and cost chance constraints, and evaluating the up-to-date chance of alternative project selections being within the project portfolio budget. These \u2019optimizations\u2019 and evaluations are provided by a stochastic procedure based on Monte Carlo simulations. In contrast with deterministic procedures that are highly inadequate since they mostly provide erroneous results, the stochastic procedure is appropriate since it analyses a higher level of information and provides more accurate results. The proposed system enables the program manager to decipher highly complex simulation results and make decisions based on up-to-date data. It can be easily implemented even by non-experts.<\/p>","DOI":"10.4018\/jitpm.2013040101","type":"journal-article","created":{"date-parts":[[2013,7,18]],"date-time":"2013-07-18T20:05:25Z","timestamp":1374177925000},"page":"1-17","source":"Crossref","is-referenced-by-count":4,"title":["A Simulation-Based Decision Support System for Managing Information Technology Project Portfolios"],"prefix":"10.4018","volume":"4","author":[{"given":"Zohar","family":"Laslo","sequence":"first","affiliation":[{"name":"Department of Industrial Engineering and Management, Shamoon College of Engineering (SCE), Beersheba, Israel"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Gregory","family":"Gurevich","sequence":"additional","affiliation":[{"name":"Department of Industrial Engineering and Management, Shamoon College of Engineering (SCE), Beersheba, Israel"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"2432","reference":[{"key":"jitpm.2013040101-0","doi-asserted-by":"publisher","DOI":"10.1287\/mnsc.18.2.B80"},{"key":"jitpm.2013040101-1","doi-asserted-by":"publisher","DOI":"10.1109\/TSE.2006.1599418"},{"key":"jitpm.2013040101-2","doi-asserted-by":"publisher","DOI":"10.1109\/17.7433"},{"key":"jitpm.2013040101-3","doi-asserted-by":"publisher","DOI":"10.1023\/A:1018991717352"},{"key":"jitpm.2013040101-4","doi-asserted-by":"publisher","DOI":"10.1109\/MSPEC.2005.1502528"},{"key":"jitpm.2013040101-5","doi-asserted-by":"publisher","DOI":"10.4018\/jitpm.2010070102"},{"key":"jitpm.2013040101-6","author":"R. 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