International Journal of Management and Decision Making (8 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.
Optimisation of the decision-making process of investment in public projects through the use of practices of portfolio management
by Leandro Bolzan De Rezende, Marcio Denys Pessanha Gonçalves
Abstract: This article aims to explore the portfolio management tools and techniques that can assist policy makers to improve the quality of public spending. The researchers were motivated by Brazil being a country that provides one of the worst returns of taxes collected for the well-being of society [IBPT, (2013), p.2]. Several studies have shown the tools and techniques for portfolio management can improve the performance of organisations. The article was written in the form of a theoretical study, using descriptive and bibliographic research. The study sought to identify the best practices existing on portfolio management to describe a basic model that can be deployed in any public organisation.
Keywords: public spending; portfolio management; decision-making; prioritisation; public budget.
A lexicographic ordering-based approach for solving fuzzy transportation problems with triangular fuzzy numbers
by Ali Ebrahimnejad
Abstract: There are several methods in the literature for solving fuzzy transportation problem (FTP) in which the transportation costs and supply and demand are fuzzy numbers. In this paper, the shortcomings of existing methods are pointed out and to overcome these shortcomings a novel algorithm, based on a new lexicographic ordering on triangular fuzzy numbers, is proposed to solve FTP by converting it into a multi-objective linear programming (MOLP) problem with three-objective functions. The advantages of the proposed method over the existing methods are discussed. The main contribution of this paper is providing a new technique to reduce the computational complexity of recently introduced fuzzy transportation models. Finally, to show the application of proposed method an application example and an existing real world FTP are solved by using the proposed method.
Keywords: fuzzy transportation problem; FTP; multi-objective linear programming problem; lexicographic ordering; computational complexity.
Reengineering of offshored IT helpdesk operational model for transitional optimisation
by Damian Kedziora, Andrzej Kraslawski, Timo Kärri
Abstract: The dynamic development of service offshoring industry can lately be observed in Central and Eastern Europe, aligned with the global corporate hunt for service improvement and optimisation of delivery costs. Organisational changes, implemented through a transition project are always associated with numerous challenges the industry's managerial community needs to struggle with. The paper presents the collection and classification of the most common problems affecting international service transfers and introduces the case study conducted in the design phase of a transition project. The reengineering of an offshored IT helpdesk's operational model, aiming for key performance indicator's improvement and team work facilitation was performed with the application of various problem solving and service enhancement methods, including the newly proposed SOLVE method for future advancement of creative solution reaching process.
Keywords: offshoring; service; operations; project; reengineering; transition; model; optimisation; problem; solving.
Research on the development of simulation-based ship block logistics system based on data, flow and space modelling
by Young Joo Song
Abstract: Currently, the simulation technology aimed at pre-verifying continues developing in the manufacturing industry, and the simulation on the production system in the manufacturing industry is applied most extensively. Many shipyards have steadily conducted studies on the improvement plans for logistics operations of shipyards in covering newly constructed ship products which consist of various ship types increasing in the fixed area of the yard. The block used to form a ship, the jig which supports the block, and the transporter are all physically related; therefore, the planning and scheduling and the operating scheme of distribution are related to shipyard logistics. In this paper, we will introduce a decision-making system that can perform logistics verification on the scheduling and layout changes using a block logistics simulation models which the product, the process, resources and schedule data of shipbuilding are reflected by being unified.
Keywords: ship block; logistics; material flow; modelling; simulation; shipyard; layout.
Distance function and fuzzy goal programming models for effective shopping mall management
by R.K. Jana, Dinesh K. Sharma, B. Chakraborty
Abstract: In today's competitive environment, managing shopping malls is a challenging task. Electricity consumption directly impacts greenhouse gas emissions and recurring costs, while effective utilisation of leasable areas influences the profitability of malls. Retail tenant mix may play a vital role in the success of shopping malls by attracting more shoppers. In this paper, we present distance function and fuzzy goal programming (FGP) models for an effective shopping mall management. A solution procedure for finding the optimal tenant mix was presented. The three objectives of the model formulation were the maximising of the total leasable area, the minimising of the total electricity consumption and the maximising of the total number of shops. A distance function method was suggested to solve the obtained nonlinear integer programming problem. The problem was also solved using three FGP models. The superiority of the distance function approach over the FGP models was evidenced in the case example of the shopping mall located in Kolkata, India.
Keywords: shopping mall management; tenant mix; fuzzy goal programming; FGP; distance function.