Multi-Criteria Decision-Making Selection Model with Application to Chemical Engineering Management Decisions
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.
[1] 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.
[2] 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.
[3] 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.
[4] Ch-Ch. Huanga, P.Chub, Y.Chiang,"A fuzzy AHP application in
government-sponsored R&D project selection," Omega 2008, 36:
pp.1038 - 1052.
[5] W. A. Steffens, M.B. Martinsuo, K. Artto," Change decisions in product
development projects," International Journal of Project
Management,2007, 25 : pp.702-713.
[6] 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.
[7] 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.
[8] L.M. Meade, A.Presley ," R&D project selection using the analytic
network process," Transactions on Engineering Management,2002,
49(1): pp.59-66
[9] D.J.Powera, R. Sharda," Model-driven decision support systems:
Concepts and research directions," 2005.
[10] S.D. Pohekar, Ramachandran,"Application of multi-criteria decision
making to sustainable energy planning," Renewable and Sustainable
Enegy Reviews,2004, 8: pp.365-381.
[11] 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.
[12] 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.
[13] Al.K, M. S. Al. Harbi,"Application of the AHP in project management,"
International Journal of Project Management,2001, 19 : pp.19-27.
[14] P. A. Zhou, B.W. Poh," Decision analysis in energy and environmental
modeling: An update," Energy ,2006,31: pp.2604-2622.
[15] O. S. Vaidya, S. Kumar, " Analytic hierarchy process: An overview of
applications," European journal of operational research,2006, pp.169, 1-
29.
[16] Sh.a Imoto, Y.b. Yabuuchi, J. Watada," Fuzzy regression model of R&D
project evaluation," Applied Soft Computing ,2008,8: pp.1266-1273.
[17] J. S. Dyer,"A clarification of ÔÇÿRemarks on the analytic hierarchy
process," Management science,1990, 36, pp. 274-275.
[18] T. L. Saaty,"Axiomatic foundations of the analytic hierarchy process,"
Management science,1983, 32, pp.841-855.
[19] 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.
[20] 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.
[21] 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.
[22] T. L. Saaty, "How to make a decision: the analytical hierarchy process,"
European journal of operational research. North-Holland, 1990, 48,
pp.9-26.
[23] 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.
[24] T. L. Saaty, "How to make a decision: the analytic hierarchy process,"
Interfaces,1994, 24, pp.19-43.
[25] 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.
[26] T. L. Saaty, "The analytical hierarchy process," Mc Graw-Hill: New
York,1980.
[27] P.Kumar," Integrated project evaluation and selection using multipleattribute
decision-making technique," International Journal of
Production Economics,2006, 103: pp.90-103.
[28] Z. Xu, "On consistency of the weighted geometric mean complex
judgment matrix in AHP," European journal of operational
research,2000,. 126, pp.683-687.
[29] R.L. Keeny, H.Raiffa,"Decisions with multiple objectives: Preferences
and value tradeoffs," New York: Wiley,1976.
[1] 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.
[2] 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.
[3] 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.
[4] Ch-Ch. Huanga, P.Chub, Y.Chiang,"A fuzzy AHP application in
government-sponsored R&D project selection," Omega 2008, 36:
pp.1038 - 1052.
[5] W. A. Steffens, M.B. Martinsuo, K. Artto," Change decisions in product
development projects," International Journal of Project
Management,2007, 25 : pp.702-713.
[6] 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.
[7] 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.
[8] L.M. Meade, A.Presley ," R&D project selection using the analytic
network process," Transactions on Engineering Management,2002,
49(1): pp.59-66
[9] D.J.Powera, R. Sharda," Model-driven decision support systems:
Concepts and research directions," 2005.
[10] S.D. Pohekar, Ramachandran,"Application of multi-criteria decision
making to sustainable energy planning," Renewable and Sustainable
Enegy Reviews,2004, 8: pp.365-381.
[11] 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.
[12] 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.
[13] Al.K, M. S. Al. Harbi,"Application of the AHP in project management,"
International Journal of Project Management,2001, 19 : pp.19-27.
[14] P. A. Zhou, B.W. Poh," Decision analysis in energy and environmental
modeling: An update," Energy ,2006,31: pp.2604-2622.
[15] O. S. Vaidya, S. Kumar, " Analytic hierarchy process: An overview of
applications," European journal of operational research,2006, pp.169, 1-
29.
[16] Sh.a Imoto, Y.b. Yabuuchi, J. Watada," Fuzzy regression model of R&D
project evaluation," Applied Soft Computing ,2008,8: pp.1266-1273.
[17] J. S. Dyer,"A clarification of ÔÇÿRemarks on the analytic hierarchy
process," Management science,1990, 36, pp. 274-275.
[18] T. L. Saaty,"Axiomatic foundations of the analytic hierarchy process,"
Management science,1983, 32, pp.841-855.
[19] 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.
[20] 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.
[21] 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.
[22] T. L. Saaty, "How to make a decision: the analytical hierarchy process,"
European journal of operational research. North-Holland, 1990, 48,
pp.9-26.
[23] 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.
[24] T. L. Saaty, "How to make a decision: the analytic hierarchy process,"
Interfaces,1994, 24, pp.19-43.
[25] 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.
[26] T. L. Saaty, "The analytical hierarchy process," Mc Graw-Hill: New
York,1980.
[27] P.Kumar," Integrated project evaluation and selection using multipleattribute
decision-making technique," International Journal of
Production Economics,2006, 103: pp.90-103.
[28] Z. Xu, "On consistency of the weighted geometric mean complex
judgment matrix in AHP," European journal of operational
research,2000,. 126, pp.683-687.
[29] R.L. Keeny, H.Raiffa,"Decisions with multiple objectives: Preferences
and value tradeoffs," New York: Wiley,1976.
@article{"International Journal of Chemical, Materials and Biomolecular Sciences:51813", author = "Mohsen Pirdashti and Arezou Ghadi and Mehrdad Mohammadi and Gholamreza Shojatalab", title = "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.", keywords = "Chemical Engineering, R&D Project, MCDM,
Selection.", volume = "3", number = "1", pages = "10-6", }