A decision support system for project portfolio selection

Chu, Pin‐Yu; Hsu, Yeh‐Liang; Fehling, Michael

doi:10.1016/s0166-3615(96)00067-x

Cited by 49 publications

(23 citation statements)

References 16 publications

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“…The authors have used utility function as selection tool [9], Goal-programming models [10,11]. Project selection problem using fuzzy theory has been discussed [12]. Project selection problem using various MCDM tools such as ARAS, MOORA, VIKOR, and COPRAS have been demonstrated [13][14][15][16].…”

Section: Prior Work Project Selectionmentioning

confidence: 99%

A New DST-Belief Theoretic Project Selection Model for Multi-Criteria Decision Support System

Bakshi

Sinharay²,

Sarkar

et al. 2015

J. Inst. Eng. India Ser. C

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Decision-making problem is co-related to quality and availability of the information. Innovative algorithms are proposed as a mathematical problem-solving technique to work in uncertainty-based decision science domain. Evidence-based theory of Dempster-Shafer (DST) is an effective mathematical tool to deal with uncertainty in the decision-making procedure. The current research exposition on new decision-making method based on DST of evidence, quantification evidence preference from different multiple criteria defined by belief function has been presented. They have developed a new framework that tackles the challenges and borne out of uncertainty both in criteria and in alternative levels. The proposed hybridized MCDM tool developed upon fuzzy domain uses plausibility and theory of belief function to construct decision on uncertain and imprecise information. The proposed method can be well fitted for real-life application. An illustrative example establishes the effectiveness of the aforesaid method.

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Section: Prior Work Project Selectionmentioning

confidence: 99%

A New DST-Belief Theoretic Project Selection Model for Multi-Criteria Decision Support System

Bakshi

Sinharay²,

Sarkar

et al. 2015

J. Inst. Eng. India Ser. C

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“…Meredith and Mantel (2011) have discussed various qualitative and quantitative project selection models. Chu et al (1996) demonstrated project selection process using fuzzy theory. Tuysuz and Kahraman (2006) stated that fuzzy sets theory was especially powerful when there was a need to take into consideration the ideas and judgments of people because of complexity and lack of proper information.…”

Section: Literature Reviewmentioning

confidence: 99%

IT project risk assessment of learning organizations by fuzzy set and systems

Taylan

2014

International Journal of Organizational Analysis

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Purpose -IT projects carry high risk of failure due to the existence of great obstacles during the planning, application and development phase. The projects' risks are multi-dimensional, and they must be assessed by multi-attribute decision-making methods. The purpose of this article is to provide analytic tools to evaluate the learning organization's IT project risks under incomplete and vague information. It was also aimed to place the risk in a proper category and predict the level of it in advance to develop strategies to counteract the high-risk factors. Design/methodology/approach -In this study, three mutual approaches were used to analyze the organizations IT applications. These are enterprise analysis for determination of information requirements of organization, payback method for IT project financial analysis and risk assessment using fuzzy sets and systems. The developed fuzzy model is an expert system which can predict the category of risk for IT projects in learning organizations.Findings -This study revealed that the greatest obstacles to IT project success were the lack of organizational learning, resistance to change, etc. User involvement limitation was found to be also one of the common reasons of IT project failure. The information sharing policy was determined to increase productivity of employees in offices and to decide the creators and the users of knowledge. Learning is a continuous process for organizational transformation. Individual and organizational learning were searched to minimize the level of risks factors and learning culture. IT project risks were categorized properly using fuzzy sets and systems to reduce or even eliminate high risks. Originality/value -The paper is original and gives the first such work for industry.

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“…Se han desarrollado diversos modelos para facilitar el análisis integral de los proyectos de inversión, considerando variables cualitativas y cuantitativas, teniendo en cuenta que cada proyecto es único por naturaleza, desde los que se apoyan en la lógica borrosa (Chu et al, 1996;Coffin y Taylor, 1996), hasta los que utilizan funciones de utilidad (Mehrez y Sinauer-Stern, 1983), el análisis envolvente de datos (DEA) (Eilat, et al 2006) o el proceso de análisis jerárqui-co (Dey, 2006) sin olvidar metodologías clásicas, específicamen-te orientadas al medio ambiente, como las de la compañía General Electric (1987) y la USEPA (1989).…”

Section: Criterios De Análisis De Selección De Inversiones Medioambieunclassified

Las decisiones de inversión bajo criterios medioambientales

Mayor

Martel

2007

cys

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RESUMENEn muchas organizaciones la evaluación y selección de proyectos incluye aspectos relacionados con la sostenibilidad social y medioambiental de la inversión, ya que su influencia sobre la viabilidad de los proyectos puede llegar a ser crucial. Uno de los instrumentos más utilizados, de acuerdo con la literatura, es el criterio del valor actual neto (VAN). En el presente trabajo se analizan algunos problemas básicos asociados al cálculo del VAN de una inversión bajo criterios medioambientales, tales como la elección de la tasa de descuento, la determinación de las corrientes de ingresos y costes asociados, y el horizonte temporal durante el cual se analizarán las referidas corrientes. PALABRAS CLAVES Selección de proyectos de inversión, medio ambiente, desarrollo sostenible, valor actual neto (VAN) ABSTRACT In many organizations the project evaluation and selection includes aspects related to the social and environmental sustainability of the investment, since its influence on the viability of the projects can be crucial. One of the most used instruments, in agreement with the literature, is the criterion of the net present value (NPV). In this work some basic problems associated with the calculation of NPV of an investment under environmental criterion are analyzed, such as the election of the discount rate, the determination of the flows of income and associate costs, and the temporary horizon during which the above mentioned flows will be analyzed.

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A decision support system for project portfolio selection

Cited by 49 publications

References 16 publications

A New DST-Belief Theoretic Project Selection Model for Multi-Criteria Decision Support System

A New DST-Belief Theoretic Project Selection Model for Multi-Criteria Decision Support System

IT project risk assessment of learning organizations by fuzzy set and systems

Las decisiones de inversión bajo criterios medioambientales

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