A common weight MCDA–DEA approach to construct composite indicators

Hatefi, Seyed Morteza; Torabi, S. Ali

doi:10.1016/j.ecolecon.2010.08.014

Cited by 181 publications

(73 citation statements)

References 40 publications

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“…The other steps are as follows: selection of indicators and data, imputation of missing data, and normalization of the selected indicators. Furthermore, Hatefi and Torabi [44] proposed a common weight multi-criteria decision analysis (MCDA)-DEA approach for constructing CIs, whereas Zhou et al [23] developed a multiplicative optimisation approach for constructing CIs, using the weighted product (WP) method.…”

Section: A Composite Sustainability Index Of a Projectmentioning

confidence: 99%

An Index to Measure Sustainability of a Business Project in the Construction Industry: Lithuanian Case

Dobrovolskienė

Tamošiūnienė

2015

Sustainability

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Abstract:The continuous growth of the world population, resource scarcity and the threat of climate change pose numerous environmental and social problems to the world. Therefore, much hope is put in the concept of sustainability. Companies are increasingly coming under strong global pressure to incorporate sustainability considerations into their project decision-making process. Business projects in the construction industry are among the most important, as this sector is one of the largest sectors and of major importance for the national economy and therefore has a huge impact on the environment and society. Thus, we have to explore ways to integrate sustainability into the management of those projects. This paper presents a composite sustainability index of a project (CSIP) which has been created following a review of existing literature and a pilot research study. A pilot research study was conducted in the Lithuanian construction industry between January 2015 and June 2015. Sustainability criteria were chosen and grouped on the basis of the analysis of the literature and different standards relating to sustainability applicable in the construction industry. A survey was used to select and rank the most important sustainability criteria. The index was constructed using multi-criteria decision-making methods. The results of the pilot study revealed that practitioners in the Lithuanian construction sector attach most importance to 15 sustainability criteria. A composite sustainability index of a project combining all these criteria may be useful in assessing the sustainability of a business project and making decisions regarding project portfolio selection and financial resource allocation. When addressing the issue of financial resource allocation in a project portfolio, the decision-maker could take into account not only the project's return and risk, but also its sustainability. The understanding of this study should enable companies to execute sustainable projects, which could make a contribution to the sustainable development of organizations and thereby increase their competitive advantage.

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Section: A Composite Sustainability Index Of a Projectmentioning

confidence: 99%

An Index to Measure Sustainability of a Business Project in the Construction Industry: Lithuanian Case

Dobrovolskienė

Tamošiūnienė

2015

Sustainability

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“…Single-criteria Traditional ABC [14][15][16][17][18] Multicriteria Analytic hierarchy process (AHP) [19,20] Cluster analysis [21,22] Decision tree [23,24] Distance modeling [25] Genetic algorithm [6] Graphical matrix [26][27][28] Neural network [2,29,30] Optimization models [1,3,[31][32][33][34][35][36][37] optimization models will highlight the shortcomings of using one model over other models. This will help a decision-maker in selecting the right model for the data.…”

Section: Methodsmentioning

confidence: 99%

Selecting a Multicriteria Inventory Classification Model to Improve Customer Order Fill Rate

Iqbal

Malzahn

Whitman

2017

Advances in Decision Sciences

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Multicriteria models have been proposed for inventory classification in previous studies. However, it is important to make a decision when a particular multicriteria inventory classification model should be preferred over other models and also if the highest performing model remains the highest performing at all times. Companies always look for ways to improve customer order fulfillment process. This paper shows how better inventory classification can improve customer order fill rate in variable settings. The method to compare the inventory classification models with regard to improving customer order fill rate is proposed. The cut-off point is calculated which indicates when a model currently in use should be dropped in favor of another model to increase revenue by filling more orders. Sensitivity analysis is also performed to determine how holding cost and demand uncertainty affect the performance metric. Finally, regression analysis and hypothesis testing inform the decision-maker of how a model's performance differs from other models at various values of holding cost and standard deviation of demand.

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“…Hatefi and Torabi (2010) used a single stage optimization to find a common set of weights for all countries. They considered the deviations of the scores from 100% as one-sided residuals and computed the weights which minimised the largest of these deviations (i.e.…”

Section: Hdi and Data Envelopment Analysis (Dea)mentioning

confidence: 99%

An automatic-democratic approach to weight setting for the new human development index

Tofallis

2012

J Popul Econ

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The Business School at the University of Hertfordshire (UH) employs approximately 150 academic staff in a state-of-the-art environment located in Hatfield Business Park. It offers 17 undergraduate degree programmes and 21 postgraduate programmes; there are about 80 research students, mostly working at doctoral level.The University of Hertfordshire is the UK's leading business-facing university and an exemplar in the sector. It is one of the region's largest employers with over 2,300 staff and a turnover of £231million. In the 2008 UK Research Assessment Exercise it was given the highest rank for research quality among the post-1992 universities. It has a student community of over 27,000 including more than 2,900 international students. The University of Hertfordshire was awarded 'Entrepreneurial University of the Year 2010' by the Times Higher Education (THE) and ranks in the top 4% of all universities in the world according to the latest THE World University Rankings.

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A common weight MCDA–DEA approach to construct composite indicators

Cited by 181 publications

References 40 publications

An Index to Measure Sustainability of a Business Project in the Construction Industry: Lithuanian Case

An Index to Measure Sustainability of a Business Project in the Construction Industry: Lithuanian Case

Selecting a Multicriteria Inventory Classification Model to Improve Customer Order Fill Rate

An automatic-democratic approach to weight setting for the new human development index

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