Ranking environmental projects model based on multicriteria decision-making and the weight sensitivity analysis

With the fast growth of Chinese economic, more and more capital will be invested in environmental projects. How to select the environmental investment projects （alternatives） for obtaining the best environmental quality and economic benefits is an important problem for the decision makers. The purpose of this paper is to develop a decision-making model to rank a finite number of alternatives with several and sometimes conflicting criteria. A model for ranking the projects of municipal sewage treatment plants is proposed by using exports＇ information and the data of the real projects. And, the ranking result is given based on the PROMETHEE method. Furthermore, by means of the concept of the weight stability intervals （WSI）, the sensitivity of the ranking results to the size of criteria values and the change of weights value of criteria are discussed. The result shows that some criteria, such as “proportion of benefit to project cost”, will influence the ranking result of alternatives very strong while others not. The influence are not only from the value of criterion but also from the changing the weight of criterion. So, some criteria such as “proportion of benefit to project cost” are key critera for ranking the projects. Decision makers must be cautious to them.

Analysis on decision-making model of plan evaluation based on grey relation projection and combination weight algorithm

In military service joint operations, when there are more operational forces, more multifarious materials are consumed, the support is more complex and fuzzy, the deployment of personnel is more rapid, and the support provided by wartime military material support powers can be more effective. When the principles,requirements, influencing factors and goals of military material support forces are deployed in wartime, an evaluation indicator system is established. Thus, a new combined empowerment method based on an analytic hierarchy process（AHP） is developed to calculate the subjective weights, and the rough entropy method is used to calculate the objective weights. Combination weights can be obtained by calculating the weight preference coefficient error, which is determined by combining the cooperative game method and the minimum deviation into objectives. This approach can determine the grey relation projection coefficient and synthesize the measure scheme superiority to finally optimize the deployment plan using the grey relation projection decision-making method. The results show that the method is feasible and effective;it can provide a more scientific and practical decision-making basis for the military material support power deployment in wartime.

Study and realization of the computer support system on feasible reasoning and scientific decision-making of projects based on WEB

With the development of information technology, DSS can be used to resolve the complex process of the feasible reasoning and scientific decision-making of projects. This paper offers 7 exploiting principles for the computer support system on feasible reasoning and scientific decision-making of projects, that is, the principles of standardization, procedure, specification, agility, currency, practicability and development. On the basis of analysis on systematic procedure, the computer support system on feasible reasoning and scientific decision-making of projects is formed based on WEB, and its general structure, system function and the methods to be realized are introduced. The data composition of this system is analyzed following the principles of integrality, development, perspicuity and consistency. Also, the model-base management system is designed for the management of model storage and management of model operation.

Optimal Decision-Making of Trans-Provincial Electricity Market Subjects with Risks under Renewable Portfolio Standards

The randomness and uncertainty of renewable energy generation are expected to significantly change the optimal decision-making of trans-provincial electricity market subjects.Therefore,it is beneficial to optimize the interests of each of these subjects,considering the unpredictable risks of renewable energy under the renewable portfolio standards(RPS)and researching their effects on the optimal decision-making of transprovincial electricity market multi-subjects.First,we develop a trans-provincial trading market mechanism for renewable energy and clarify the electricity supply and demand relation and the green certificates supply and demand relation of trans-provincial electricitymarketmulti-subjects.Then,under the RPS,we construct a multi-subject game model of the power supply chain that recognizes the risks,and adopt the reverse induction method to discuss the optimum risk-taking judgment of each subject in the trans-provincial electricity market.Finally,we useMATLAB to verify the viability and efficacy of the proposed gamemodel,and obtain a certain reference value for the optimal decision-making of trans-provincial electricity market subjects.In summary,we consider the uncertainty risks of renewable energy under RPS,study the effects of the green certificate price and risk aversion coefficient in the RPS mechanism on the optimal decisionmaking of trans-provincial electricity market subjects,and obtain the changing trends of two different power products and those of different electricity market subjects under the influence of the green certificate price and risk aversion coefficient,which have a certain reference value for studying the factors affecting the optimal decision-making of trans-provincial electricity market subjects.

Critical chain construction with multi-resource constraints based on portfolio technology in South-to-North Water Diversion Project

Recently, the critical chain study has become a hot issue in the project management research field. The construction of the critical chain with multi-resource constraints is a new research subject. According to the system analysis theory and project portfolio theory, this paper discusses the creation of project portfolios based on the similarity principle and gives the definition of priority in multi-resource allocation based on quantitative analysis. A model with multi-resource constraints, which can be applied to the critical chain construction of the A-bid section in the South-to-North Water Diversion Project, was proposed. Contrast analysis with the comprehensive treatment construction method and aggressive treatment construction method was carried out. This paper also makes suggestions for further research directions and subjects, which will be useful in improving the theories in relevant research fields.

Uncertainty Theory Based Novel Multi-Objective Optimization Technique Using Embedding Theorem with Application to R &D Project Portfolio Selection

This paper introduces a novice solution methodology for multi-objective optimization problems having the coefficients in the form of uncertain variables. The embedding theorem, which establishes that the set of uncertain variables can be embedded into the Banach space C[0, 1] × C[0, 1] isometrically and isomorphically, is developed. Based on this embedding theorem, each objective with uncertain coefficients can be transformed into two objectives with crisp coefficients. The solution of the original m-objectives optimization problem with uncertain coefficients will be obtained by solving the corresponding 2 m-objectives crisp optimization problem. The R & D project portfolio decision deals with future events and opportunities, much of the information required to make portfolio decisions is uncertain. Here parameters like outcome, risk, and cost are considered as uncertain variables and an uncertain bi-objective optimization problem with some useful constraints is developed. The corresponding crisp tetra-objective optimization model is then developed by embedding theorem. The feasibility and effectiveness of the proposed method is verified by a real case study with the consideration that the uncertain variables are triangular in nature.

Scenario-based approach for project portfolio selection in army engineering and manufacturing development

The decisions concerning portfolio selection for army engineering and manufacturing development projects determine the benefit of those projects to the country concerned.Projects are typically selected based on ex ante estimates of future return values,which are usually difficult to specify or only generated after project launch.A scenario-based approach is presented here to address the problem of selecting a project portfolio under incomplete scenario information and interdependency constraints.In the first stage,the relevant dominance concepts of scenario analysis are studied to handle the incomplete information.Then,a scenario-based programming approach is proposed to handle the interdependencies to obtain the projects,whose return values are multi-criteria with interval data.Finally,an illustrative example of army engineering and manufacturing development shows the feasibility and advantages of the scenario-based multi-objective programming approach.

Effective decision-making model for hi-tech new product development

In order to identify the effective decision-making factors at the individual NPD project manager level, a new effective decision-making model has been established by introducing the concept of decision-making effectiveness, analyzing the role of expertise, and identifying the major role of expertise and insight with respect to the interfaces between a new product, an organization, customers, technologies and regulations, for the study of the effective decision-making facilitators and inhibitors for a NPD project. The analysis of the unique task conditions for individual decision-makers shows that perceived complexity, uncertainty and time pressure have their negative effect on the effective decision-making process. It is concluded that the flexible, balanced and appropriate use of rational analysis, common sense and intuition is a key effective decision-making factor, and the psychologically ‘active attitude’ of a manager is also an important factor for successful dealing with the difficult task conditions.

Evaluation Indexes of Degree of Closeness between Strategy and Project Portfolio Allocation

The main activities in project portfolio allocation management are selecting the right project components given a strategy. It is crucial to establish a scientific system of evaluation indexes to guarantee the closeness between strategy and project portfolio allocation optimally. With organizations growing in sizes, the functions and objectives of project components are becoming more and more different. It is necessary to set evaluation indexes of the degree of closeness from the perspectives of financial, market share, social effects, and so on according to the strategy-oriented process of project portfolio allocation. This paper proposes a project portfolio allocation process under strategic orientation and evaluation indexes of the degree of closeness between strategy and project portfolio allocation. This will help projects managers make portfolio allocation decisions.

Dominance-Based Rough Set Approach in Selection of Portfolio of Sustainable Development Projects

In our study, the Dominance-based Rough Set Approach (DRSA) has been proposed to assist the Board of Directors of the Community Futures Development Corporations (CFDC), the sub-region of Abitibi-West (Quebec). The CFDC needs a tool for decision support to select the projects that are proposed by the contractors and partners of its territory. In decision making, a balanced set of 22 indicators is considered. These indicators derive from five perspectives: economic, social, demographic, health and wellness. The DRSA proposal is suitable for the data processing with multiple indicators providing on many examples to infer decision rules related to the preference model. In this paper we show that decision rules developed with the use of rough set theory allow us to simplify the process of selecting a portfolio for sustainable development by reducing a number of redundant indicators and identifying the critical values of selected indicators.

Expanded models of the project portfolio selection problem with learning effect

This research develops two new models for project portfolio selection, in which the candidate projects are composed of multiple repetitive units. To reflect some real situations, the learning effect is considered in the project portfolio selection problem for the first time. The mathematical representations of the relationship between learning experience and investment cost are provided. One numerical example under different scenarios is demonstrated and the impact of considering learning effect is then discussed.

Competency Evaluation and Promotion for Portfolio Management Based on Organizational Project Management Maturity Model

The objective of this paper is to present an and promote the capabilities of organizational portfolio ment Maturity Model （ OPM3 ）, the process areas of approach to comprehensively and quantitatively evaluate management. Based on the Organizational Project Manage- organizational project portfolio management are identified through the questionnaire survey and further analysis, and five capability levels are put forward and described. Then the methods of Delphi, AHP and multi-layer fuzzy comprehensive evaluation are applied to construct a mod- el of assessment and promotion. Finally, an illustrative example is presented to verify the proposed approach The result objectively and accurately describes the project portfolio management capabilities of the organization, and shows that it is able to provide a theoretical basis for an organization to improve and enhance the project port- folio management

Schedule Model for Project Portfolio Based on Design Structure Matrix

To improve the enterprise resource utilization and shorten the cycle of the whole project portfolio, a scheduling model based on Design Structure Matrix （DSM） is built. By setting the project activity weight index system and calculating the activity weight for the project portfolio, the constraint relationship between project portfolio information and resource utilization, as the two dimensions of the DSM, are fully reflected in the sched- ule model to determine the order of these activities of project portfolio. A project portfolio example is given to il- lustrate the applicability and effectiveness of the schedule model.

The Impact of Project Portfolio Management on Enterprise Strategic Objectives

In today’s era,with the increase in the number of enterprise innovations,enterprises must adopt project portfolio management for various innovations,select alternative projects from the perspective of enterprise strategy.This paper primarily explores the use of project portfolio management in enterprise project management,hoping to improve the quality of enterprise project management and the utilization efficiency of project portfolio management in enterprise project management.

EU project on agronomic portfolio kicks off

The launching meeting for “benefiting from an improved agricultural portfolio in Asia,” a research project supported by the European Commission under

Portfolio selection: a fuzzy-ANP approach

This study developed specific criteria and a fuzzy analytic network process(FANP)to assess and select portfolios on the Tehran Stock Exchange(TSE).Although the portfolio selection problem has been widely investigated,most studies have focused on income and risk as the main decision-making criteria.However,there are many other important criteria that have been neglected.To fill this gap,first,a literature review was conducted to determine the main criteria for portfolio selection,and a Likert-type questionnaire was then used to finalize a list of criteria.Second,the finalized criteria were applied in an FANP to rank 10 different TSE portfolios.The results indicated that profitability,growth,market,and risk are the most important criteria for portfolio selection.Additionally,portfolios 6,7,2,4,8,1,5,3,9,and 10(A6,A7,A2,A4,A8,A1,A5,A3,A9,and A10)were found to be the best choices.Implications and directions for future research are discussed.

Risk assessment:method and case study for traffic projects

A comprehensive project evaluation and decision-making method considering multiple objectives,stakeholders,and attributes of proposed traffic treatments is inherently complicated.Although individual techniques in evaluating operations,safety,economic,and stakeholder objectives are available,a practical method that integrates all these risk factors and their uncertainties into a multiattribute decision-making tool is absent.A three-level project decision-making process was developed to model and assess multiple-attribute risk in a proposed traffic treatment from the perspective of multiple stakeholders.The direct benefits from reducing delay and safety risk(basic objectives of traffic treatments) are computed in Level 1 with established methods.Feasibility and performance analysis in Level 2 examine site-specific constraints and conduct detailed performance analysis using advanced analysis tools.In Level 3,this paper introduces an innovative and integrated multiple attributes evaluation process under fuzziness and uncertainty(MAFU) process for evaluation and decision-making.The MAFU is a comprehensive and systematic assessment and decision-making procedure that can assess the magnitudes of project performance and to integrate conflicting interests and tradeoffs among stakeholders.A case study illustrates theapplication of MAFU for the selection of a traffic alternative involving several evaluation attributes and stakeholders.Results show that the MAFU produced the smallest variance for each alternative.With traditional cost–benefit evaluation methods,the uncertainty associated with performance of a traffic project in terms of operation,safety,environmental impacts,etc.,is unrestricted and cumulative.Therefore,a reliable multi-attribute evaluation of complex traffic projects should not be made with conventional cost–benefit analysis alone but with a process like MAFU.

Fuzzy Approach to Determining Priority Preorders of Water Resources Projects

In this paper,the criteria set related to the priority preorders of water resources projects is introduced.A fuzzy multiple criteria group decision-making model is established,which incorporates quantitative analysis,judgments,experience and preferences of decision-makers.The model is used in practice to determine the priority preorders of five water resources projects,and the results show that the best choice can supply more new employment,domestic water and irrigation water,and has better quality.

The demonstration,decision process and practice of Three Gorges Project

The world-famous Three Gorges Project (TGP) is the largest hydropower station in the world and the largest water resources and hydropower project constructed in China.The impoundment of Three Gorges Reservoir reached the design water level of 175 m for the first time on October 26,2010,which indicated that the project had met design requirements of various functionalities of flood control,power generation and navigation.To complete the project it took nearly 100 years for conception,demonstration,design and construction of the TGP.How was the conception of TGP proposed? What kind of role should it be? What were the different opinions? How was the project demonstrated? What was the conclusion of demonstration? Those are the issues that many people care and don't know about.To memorize the realization of the century dream of Chinese people and to record the history of development of TGP,the author presents a compendious introduction to the project.