Commenced in January 2007
Paper Count: 30174
Multi-Criteria Decision-Making Selection Model with Application to Chemical Engineering Management Decisions
Abstract:Chemical industry project management involves complex decision making situations that require discerning abilities and methods to make sound decisions. Project managers are faced with decision environments and problems in projects that are complex. In this work, case study is Research and Development (R&D) project selection. R&D is an ongoing process for forward thinking technology-based chemical industries. R&D project selection is an important task for organizations with R&D project management. It is a multi-criteria problem which includes both tangible and intangible factors. The ability to make sound decisions is very important to success of R&D projects. Multiple-criteria decision making (MCDM) approaches are major parts of decision theory and analysis. This paper presents all of MCDM approaches for use in R&D project selection. It is hoped that this work will provide a ready reference on MCDM and this will encourage the application of the MCDM by chemical engineering management.
Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1057705Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3429
 C.P.Lawson, P.J. Longhurst, P.C. Ivey, "The application of a new research and development project selection model in SMEs," technovoation, 2006, 26:pp.242-250.
 Ch.Carlsson, R. Fulle, M. Heikkila, P.Majlender, "A fuzzy approach to R&D project portfolio selection," International Journal of Approximate Reasoning, 2007, 44: pp.93-105.
 M. Tavana, D.T. Kennedy, and P.Joglekar, "A group decision support framework for consensus ranking of technical manager candidates," Omega, International Journal of Management Science, 1996, 24, pp.523-538.
 Ch-Ch. Huanga, P.Chub, Y.Chiang,"A fuzzy AHP application in government-sponsored R&D project selection," Omega 2008, 36: pp.1038 - 1052.
 W. A. Steffens, M.B. Martinsuo, K. Artto," Change decisions in product development projects," International Journal of Project Management,2007, 25 : pp.702-713.
 L. S. Pheng, Q. T. Chuan, "Environmental factors and work performance of project managers in the construction industry," International Journal of Project Management,2006, 24: pp. 24-37.
 K. C. Desouzaa, J. R. Evaristo, " Project management offices: A case of knowledge-based archetypes," International Journal of Information Management, 2006, 26: pp.414-423.
 L.M. Meade, A.Presley ," R&D project selection using the analytic network process," Transactions on Engineering Management,2002, 49(1): pp.59-66
 D.J.Powera, R. Sharda," Model-driven decision support systems: Concepts and research directions," 2005.
 S.D. Pohekar, Ramachandran,"Application of multi-criteria decision making to sustainable energy planning," Renewable and Sustainable Enegy Reviews,2004, 8: pp.365-381.
 M. Janic, A.Reggiani,"An Application of the Multiple Criteria Decision Making (MCDM) Analysis to the Selection of a New Hub Airport," EJTIR,2002, 2(2): pp. 113 - 141.
 E.R. Steuer, p. Na," Multiple criteria decision making combined with finance:Acategorized bibliographic study," European journal of Operational Research,2003, 150: pp.496-515.
 Al.K, M. S. Al. Harbi,"Application of the AHP in project management," International Journal of Project Management,2001, 19 : pp.19-27.
 P. A. Zhou, B.W. Poh," Decision analysis in energy and environmental modeling: An update," Energy ,2006,31: pp.2604-2622.
 O. S. Vaidya, S. Kumar, " Analytic hierarchy process: An overview of applications," European journal of operational research,2006, pp.169, 1- 29.
 Sh.a Imoto, Y.b. Yabuuchi, J. Watada," Fuzzy regression model of R&D project evaluation," Applied Soft Computing ,2008,8: pp.1266-1273.
 J. S. Dyer,"A clarification of ÔÇÿRemarks on the analytic hierarchy process," Management science,1990, 36, pp. 274-275.
 T. L. Saaty,"Axiomatic foundations of the analytic hierarchy process," Management science,1983, 32, pp.841-855.
 B. L., Golden, E. A. Wasil, D.E. Levy,"Application of analytical hierarchy process: a categorized, annotated bibliography," In: Golden,B.L., Wasil,E.A., Harker, P.T.(Eds.), The analytic hierarchy process. Applications and studies, 1989, (pp.37-58). Berlin: Springer.
 T. Y. Hsieh, Sh.T. Lu, G.H., Tzeng," Fuzzy MCDM approach for planning and design tenders selection in public office buildings," International Journal of Project Management,2004, 22:pp. 573-584.
 Q.Tian, J.Ma, J.Liang, R.C.W. Kwok, O. Liu, " An organizational decision support system for effective R&D project selection," Decision Support systems,2004,39: pp.403-413.
 T. L. Saaty, "How to make a decision: the analytical hierarchy process," European journal of operational research. North-Holland, 1990, 48, pp.9-26.
 T. L. Saaty, "Highlights and critical points in theory and application of the Analytical Hierarchy process," European journal of operational research,1994, 74, pp.426-447.
 T. L. Saaty, "How to make a decision: the analytic hierarchy process," Interfaces,1994, 24, pp.19-43.
 T. L. Saaty, "Modeling unstructured decision problems: a theory of analytical hierarchies", Proceedings of the first international conference on mathematical modeling, 1977, pp. 69-77.
 T. L. Saaty, "The analytical hierarchy process," Mc Graw-Hill: New York,1980.
 P.Kumar," Integrated project evaluation and selection using multipleattribute decision-making technique," International Journal of Production Economics,2006, 103: pp.90-103.
 Z. Xu, "On consistency of the weighted geometric mean complex judgment matrix in AHP," European journal of operational research,2000,. 126, pp.683-687.
 R.L. Keeny, H.Raiffa,"Decisions with multiple objectives: Preferences and value tradeoffs," New York: Wiley,1976.