International Journal of Management and Decision Making (5 papers in press)
Multi-criteria Decision-making Methods for Project Portfolio Management: A Literature Review
by Darius Danesh, Michael J. Ryan, Alireza Abbasi
Abstract: Project portfolio management (PPM) has become a key element of large organisations service delivery due to the close attention inherently paid to numerous issues in the discipline of project management. Its success is closely associated with the degree of understanding of its issues and the quality of decisions made at the portfolio level which can be addressed using multi-criteria decision-making (MCDM) methods. Although several of these MCDM methods have been introduced to support decision-making functions as part of PPM, there has been little assessment of their performances, particularly when combining some of them. This paper identifies the key challenges of PPM, proposes a new framework for classifying PPM MCDM related methods and presents a literature review of applications of MCDM methods to PPM.
Keywords: project portfolio management; PPM; multi-criteria decision
making; MCDM; MCDM classification; PPM Challenges; decision problem.
Automatic Clustering by Elitism based Multi-Objective Differential Evolution
by Subrat Kumar Nayak, Pravat Kumar Rout, Alok Kumar Jagadev
Abstract: To arrange the uncategorized and unlabelled data into different clusters and finding the actual label of each datum from the huge volume by extracting useful and unique information is a real challenge. In this article, an Automatic Clustering by Elitism based Multi-Objective Differential Evolution (AC-EMODE) algorithm has been proposed to deal with partitioning the data into different clusters. This work includes three objectives to handle complex datasets. This generates a suitable Pareto front by simultaneously optimizing three objectives. In addition to that, a very effective concept is followed for getting the best solution from the optimal Pareto front. A comparative analysis of the proposed approach with another six population-based methods has been carried out. These techniques are applied to ten datasets and the results reveal that the proposed approach can be considered as one of the alternative powerful methods for all data clustering applications in various fields.
Keywords: multi-objective; automatic clustering; fuzzy-based selection;
Maintenance strategy design in a sintering plant based on a multicriteria approach
by Gianpaolo Di Bona, Antonio Forcina, Domenico Falcone
Abstract: Maintenance strategy design greatly contributes to ensure the of pre-established production capacity of an industrial system and to reduce organisation cost, without compromising customer satisfaction resulting in loss of market share. The focus of the present research is a new model for maintenance policy developed and implemented in a case study. The new approach is focused on the adequate distribution of maintenance budget to system units according to the main factors determining availability and maintenance of equipment. These factors are summarised through appropriate indices, adjusted through a multicriteria method, the analytic hierarchy process (AHP), depending on the importance level of each considered factor and unit of the system. The results can be used as a support for allocation of budgets to maintenance activities, identifying machines or units that are strategic to ensure production. The model has been applied on a real industrial plant.
Keywords: design of maintenance; budgets allocation; failure analysis;analytic hierarchy process; AHP.
Comparative analysis of multi criteria decision making methods in choosing contract type for highway construction in Greece
by FANI ANTONIOU, Georgios N. Aretoulis
Abstract: How to compensate highway construction contractors is a complex decision that should be taken based on scientific evidence. Four different Multi Criteria Decision Making methods i.e. the Multi-Attribute Utility Theory, the Technique for Order Preference by Similarity to Ideal Situation, the Preference Ranking Organization METHod for Enriched Evaluation (PROMETHEE) and the PROMETHEE Group Decision Support System method were applied to two case study projects with different characteristics and awarding authorities
Keywords: Multi criteria decision making; TOPSIS; Utility Theory; PROMETHEE; group decisions; highways; contracts; public service.
Top Management Teams: A Bibliometric Research from 2005 to 2015
by Giseli Alves Silvente, Clébia Ciupak, Julio Carneiro-da-Cunha
Abstract: This article aims to identify the main characteristics of the works on top management team (TMT). Firstly, it was related to the classic and current authors who research TMT performing a bibliometric research in the scientific journals of Web of Science, in the period from 2005 to 2015 (inclusive). Later, in order to raise the main evolutionary approaches, the years 2013, 2014 and 2015 specifically were analysed and for the reason that this period reflects the current tendency of the theme. The results were processed in the software Bibexcel and this generated a matrix of citation and co-citations, whose data were submitted to an exploratory factor analysis, from which five factors were identified. These were named in accordance to the main approach of the classic and authors, namely: 1) competencies of top management team; 2) features of top managers; 3) effect of demographic lines failures; 4) salary disparities among CEOs; 5) organisational learning. Among the evolutionary approaches of the authors who continue researching the theme, we highlight the interest in the context of TMT in family companies, gender diversity in the team and the internal and external influences of TMT. From the study it can be concluded that the researches on human and behavioural aspects of TMT are constantly growing, since they accompany the evolutionary process of organisations. There is an increase in the tendency to study decision making under the human and behavioural aspect and not only under the structured and rational aspect.
Keywords: top management team; TMT; CEO; evolutionary approach; bibliometric research.