Multiple criteria decision analysis of public investment options: application to streetlighting renewal projects

Juričić, Damir; Vašiček, Davor; Drezgić, Saša

doi:10.1080/1331677x.2020.1763820

Cited by 7 publications

(3 citation statements)

References 24 publications

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“…Table 3 shows the major advantages and disadvantages of smart cities. One of the primary advantages of smart city initiatives is improved quality of life [5,13,41,61,74]. By utilizing technology, cities can enhance public safety, improve transportation systems, and provide better access to public services, such as healthcare and education.…”

Section: Advantages and Disadvantagesmentioning

confidence: 99%

Smart Cities—A Structured Literature Review

Gracias,

Parnell,

Specking

et al. 2023

Smart Cities

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Smart cities are rapidly evolving concept-transforming urban developments in the 21st century. Smart cities use advanced technologies and data analytics to improve the quality of life for their citizens, increase the efficiency of infrastructure and services, and promote sustainable economic growth. Smart cities integrate multiple domains, including transportation, energy, health, education, and governance, to create an interconnected and intelligent urban environment. Our research study methodology was a structured literature review using Web of Science and Google Scholar and ten smart city research questions. The research questions included smart city definitions, advantages, disadvantages, implementation challenges, funding, types of applications, quantitative techniques for analysis, and prioritization metrics. In addition, our study analyzes the implementation of smart city solutions in international contexts and proposes strategies to overcome implementation challenges. The integration of technology and data-driven solutions in smart cities has the potential to revolutionize urban living by providing citizens with personalized and accessible services. However, the implementation also presents challenges, including data privacy concerns, unequal access to technology, and the need for collaboration across private, public, and government sectors. This study provides insights into the current state and future prospects of smart cities and presents an analysis of the challenges and opportunities they present. In addition, we propose a concise definition for smart cities: “Smart cities use digital technologies, communication technologies, and data analytics to create an efficient and effective service environment that improves urban quality of life and promotes sustainability”. Smart cities represent a promising avenue for urban development. As cities continue to grow and face increasingly complex challenges, the integration of advanced technologies and data-driven solutions can help to create more sustainable communities.

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Section: Advantages and Disadvantagesmentioning

confidence: 99%

Smart Cities—A Structured Literature Review

Gracias,

Parnell,

Specking

et al. 2023

Smart Cities

View full text Add to dashboard Cite

show abstract

“…Hybrid models are being developed, and new methods are emerging. These tools cover almost all areas of the business world, for example, the area of public investment [26], energy efficiency [17], diagnostics in medicine [36], the food industry [6], renewable energy production [4,28], banking services [69], forecasting carbon price [2], location selection [43], distribution channels in the agricultural economy [56,66], the choice of technology in urban wastewater treatment [54], assessing the quality scientific outputs [60], metaheuristic-based optimization algorithms [19], and, more importantly, in the field of risk management [32,37,38], especially in the area of operational risk [55].…”

Section: Introductionmentioning

confidence: 99%

Multi-criteria Decision-Making on Operational Risk in Banks

Ristanović¹,

Knežević²

2023

Proceedings of the 1st International Conference on Innovation in Information Technology and Business (ICIITB 2022)

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The frequency of application of different multi-criteria decisionmaking methods in business and financial problems is justified by the diversity and complexity of business decisions. The methods enable analysts and decisionmakers to assess when making a decision. This research aims to present the contribution of multi-valued relationship methods in assessing operational risks in banks operating in Serbia. The article shows that the multi-criteria approach used in the initial phase of identifying operational risk increases the potential of bank management for further risk management, particularly in operational risk management (ORM). The research also included a comparative analysis of the results obtained by various MCDM methods, which were more concerned with business risk analysis. An example of a decision-making problem in operational risk management is presented, showing how the issue of decision-making in operational risk management is structured using the BWM method. The use of the BWM method proved to be highly acceptable for decision-makers in banks compared to other models. In all MCDM models, external factors and human resources rank first. The results unequivocally indicated the significant influence of external factors on banking operations -the consequences of the COVID-19 pandemic, part-time work, hacker attacks, economic policy, and adjustment of the economy to epidemiological restrictions. The approach is simple and provides an effective method that can be successful in solving other decision-making problems.

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“…The project is an investment of resources over a period of time, with the aim of achieving a specific objective or set of objectives (Chirleşan et al, 2001). In practice, when preparing and implementing public projects, in particular in the decision-making process for an investment option, the contracting public authority is faced with the problem of choosing the optimal investment option (Juričić et al, 2020).…”

Section: Introductionmentioning

confidence: 99%

Application Specifications Regarding Project Decisions in the Local Public Administration of Grăniceşti Commune, Suceava County, Romania

Scutariu

Nuţu²

2022

EJLPA

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In order to optimize the public administration process, the local authorities initiate and implement projects oriented to the needs of the beneficiaries of the administrative-territorial unit they represent. In this context, this paper aims to analyze projects initiated at the local community to highlight the results that the beneficiaries will have from the implementation of those projects, by reporting to the case of Grăniceşti commune in Suceava County. Through the project of restoration and modernization of the primary school in the locality, the renovation of the educational institution was carried out, thus ensuring an institutional framework in which the teaching activities to take place in optimal conditions. Through the project of restoring the calamited bridge in the area, a new bridge was built for traffic, being guaranteed the safety of crossing the river, with an effect on improving the living standards of the local citizens. The project for the rehabilitation and modernization of the human dispensary in the locality ensured the endowment of the sanitary unit with high-performance equipment capable of providing quality public health services.

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Multiple criteria decision analysis of public investment options: application to streetlighting renewal projects

Cited by 7 publications

References 24 publications

Smart Cities—A Structured Literature Review

Smart Cities—A Structured Literature Review

Multi-criteria Decision-Making on Operational Risk in Banks

Application Specifications Regarding Project Decisions in the Local Public Administration of Grăniceşti Commune, Suceava County, Romania

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