A new project selection method using data envelopment analysis

Toloo, Mehdi; Mirbolouki, Mahnaz

doi:10.1016/j.cie.2019.106119

Cited by 27 publications

(11 citation statements)

References 31 publications

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“…The proposed approach has been applied to the current portfolio projects of a Spanish ESCO. The results obtained by the proposed approach have been compared with the results of two project selection DEA approaches, namely CG [21] and TM [22], whose models have been appropriately adapted to be able to the PP problem under study. By design, the proposed approach obtains the largest expected profit for the selected projects.…”

Section: Discussionmentioning

confidence: 99%

“…The method considers the composite project as a virtual DMU evaluating its aggregate efficiency by maximising the weighted sum of outputs, using a common weight approach. More recently, Toloo and Mirbolouki [22] revise the above approach, using a single linear DEA problem that assigns an individual weight for each input and output of each selected proposal.…”

Section: Literature Reviewmentioning

confidence: 99%

“…To compare our approach to other methods proposed in the literature, we have used the CG and TM models proposed in [21,22], respectively, which are unique methods that assume a limited level of resources. Note, however, that it has been necessary to modify them to consider the PP duration and profit as non-discretionary variables and to take into account the probability of the selected projects eventually winning their corresponding tenders.…”

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confidence: 99%

“…To specify the main differences between our approach and the models proposed in [21,22], Table 3 summarises the different features of these methods. Table 4 shows the solution provided by the different approaches.…”

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confidence: 99%

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Data Envelopment Analysis Approach to Energy-Saving Projects Selection in an Energy Service Company

2021

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Project selection is a common problem for many companies. Specifically, it consists in identifying which projects should be selected with regard to their economic efficiency, i.e., the projects that maximise the profit they bring in while minimising the cost of the resources consumed. In this paper, we have focused our interest on energy service companies because of the importance of a convenient selection of their projects. In these types of companies, the attractiveness of a project depends on both the profit estimations obtained in simulations of the energy systems to be improved, as well as the probability that the project will be awarded (e.g., in local government bids, where typically several energy service companies compete to win the bid). We propose a new project selection method, especially tailored to energy service companies and based on centralised data envelopment analysis models with limited availability of the resources. This contrasts with all existing project selection methods and allows the proposed approach to make more efficient use of the limited resources. We have applied the model to a real-world case by selecting projects in a Spanish energy service company, showing the benefits of applying this approach, and comparing the results obtained with other data envelopment analysis project selection approaches.

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Section: Discussionmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

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confidence: 99%

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confidence: 99%

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Data Envelopment Analysis Approach to Energy-Saving Projects Selection in an Energy Service Company

2021

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“…Hitherto, DEA has been applied to solution selections for construction projects [30], and Research and Development (R&D) proposals [31], information project [32,33], and Six Sigma project [34]. Although, it objectively selected the most efficient projects even under the influences of the executor's subjective instincts and opinions, there has been little discussion on how to evaluate and select solutions from MRCPSP.…”

Section: Introductionmentioning

confidence: 99%

Selection of Multimode Resource-Constrained Project Scheduling Scheme Based on DEA Method

Zhang

2020

Scientific Programming

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A multimode resource-constrained project scheduling problem (MRCPSP) may have multifeasible solutions, due to its nature of targeting multiobjectives. Given the NP-hard MRCPSP and intricate multiobjective algorithms, finding the optimized result among those solutions seems impossible. This paper adopts data envelopment analysis (DEA) to evaluate a series of solutions of an MRCPSP and to find an appropriate choice in an objective way. Our approach is applied to a typical MRCPSP in practice, and the results validate that DEA is an effective and objective method for MRCPSP solution selection.

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Solutions selection based on the P‐graph integrated data envelopment analysis for material scheduling in the ethylene production

Cao

Zhu

2021

Can J Chem Eng

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Material scheduling is significant in the ethylene production process. However, factors such as the production scale and the technology also affect the choice of material scheduling solutions. Therefore, this paper proposes a novel P-graph methodology integrated data envelopment analysis (DEA) for the solutions selection of material scheduling. First, based on the basic procedure, a scheduling superstructure model expanding from the time dimension is built. With the cost as the objective function, the optimal and partially feasible scheduling solutions are generated based on the P-graph, and the results are analyzed in detail with reference to ISA-95. Then the DEA is used to analyze the indicators of material consumption and product yields to give a selection strategy from the input-output perspective. The optimal solution and suboptimal solution sets are evaluated and analyzed, and decision making units (DMUs) with the highest score are calculated. Based on the scheduling solution with the highest score and relatively low cost, the potential adjustment of other solution is also given.Finally, a complete base of material scheduling solution has been implemented, which provides more references for decision makers. This paper considers the lowest cost as the goal and gives a more suitable alternative from the perspective of input-output efficiency in combination with the actual production conditions, which is a good extension of the P-graph.

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A new project selection method using data envelopment analysis

Cited by 27 publications

References 31 publications

Data Envelopment Analysis Approach to Energy-Saving Projects Selection in an Energy Service Company

Data Envelopment Analysis Approach to Energy-Saving Projects Selection in an Energy Service Company

Selection of Multimode Resource-Constrained Project Scheduling Scheme Based on DEA Method

Solutions selection based on the P‐graph integrated data envelopment analysis for material scheduling in the ethylene production

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