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<p>This project paper provides a systematic decomposition and industrial comparison of the U.S. defense decisionsupport  process methodologies of Portfolio Analysis (PA). Included are current methods, tools, and models for  ranking and evaluating strategic alternatives and options. The PA decision-support process analyzed in the study is  used by the Department of Defense (DoD) to allocate resources to satisfy national strategic goals. Our working  premise is that an effective decision-support process provides data driven knowledge directly to relevant decision  makers to meet all U.S. defense and national strategic requirements, including proper balance of costs, risks, and  capabilities in both routine operational and tactical battle space scenarios. To conduct this evaluation (4) Program  Management (PM) and 2 PA tools were researched with a view to modeling identifiable strategic requirements  juxtaposed with technical, financial, and implementation factors to meet today's strategic capabilities requirements.  What was learned is that together PA and PM tools used correctly provide useful tools for decision makers at all  levels of government provided they are used correctly. While utilizing the modeling programs, experts in strategic  and program analysis need to evaluate acquisition programs to rate the potential Estimated Military Value (EMV) in  meeting the strategic needs of the United States.
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<br>Subjects: Decision making; Portfolio Analysis; Portfolio Management; Markowitz Efficient Frontier; Risk  Simulation; Risk Modeling; Real Options Valuation; Strategic Planning; Decision Support Analysis</div>
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<dl><dd>Woodland, Thomas</dd>
<dd>Adams, Albert</dd>
<dd>Bala, Eric</dd>
<dd>Minner, Bill</dd></dl></div>
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