  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.
