Commercial Surveys

Commercial Surveys

Modelling Mesures of Prioritization of investment projects (Mobarakeh Steel Company Case Study)

Document Type : پژوهشی - موردی

Authors
Mohammad Riyahi 1
Mohammadreza Sharifi 1
Morteza Navabi 1
Saeedeh Ketabi 2
Mahsa Ghandehari 3
M Z 4
1 MSC
2 Department of Management, Faculty of Administrative Sciences and Economics, University of Isfahan
3 Department of Management, University of Isfahan
4 University of Isfahan
10.22034/bs.2021.247051
Abstract
To achieve competitive advantage, organizations need to build the infrastructure that can be achieved through the implementation of investment projects in the organization. On the other hand, limited resources prevent the implementation of all potential projects, and prioritizing and selecting among them would be necessary. When evaluating investment projects, it is important to consider a variety of criteria and organization's mission and strategy along with well-known economic indicators in a decision-making model to make it closer to the real-world situations. In many organizations, unclear viewpoints, and sometimes personal tastes, instead of having an integrated system according to specific and measured criteria for decision making, influences the choice of the projects. This paper presents a multi-criteria prioritization model of integrative AHP and SAW, for evaluating investment projects in Mobarakeh Steel Company, which describes the appropriate criteria and how to measure them along with the priority determination method. Applying of the proposed model in practice to systematically select the projects reduces the chance of project elimination after approval, while decreases the personal manner. The application of the proposed model on the set of investment projects of the company in 1997 shows the compliance of more than 85% of the obtained prioritization with what has happened in practice.
 
T
Keywords
Prioritization
Investment Project
Multi-Criteria Decision-Making Models
اصغرپور، م. (1376)، «تصمیم‌گیری چندمعیاره».
عبدی، م و نجفی (1397)، «انتخاب آنلاین سبد سرمایه‌گذاری به‌روش تطابق با الگوی طیفی»، مجله مهندسی مالی و مدیریت اوراق بهادار، 34، 175-192.
قدسی‌پور، م. (1378)،‌ «فرایند تحلیل سلسله مراتبی».
Archer and Ghasemzadeh. (1999). “An integrated framework for project portfolio selection”. International Journal of Project Management, 17(4), 207-216.
Bacon, C. J. (1992). The Use of Decision Criteria in Selecting Information Systems/Technology Investments. MIS Quarterly, 335-353.
Dutra et al. (2014). “ An economic-probabilistic model for project selection and prioritization”. International Journal of Project Management, 14.
EUROPEAN-COMMISSION, D. G. (2008). Guide to COST-BENEFIT ANALYSIS of investment projects.
Fernandez, Cunha, Ferreira, Araujo and Gomes. (2015). Research and development project assessment and social impact. Production, 25(4), 725-738.
Fernandez, et al. (2015). Research and development project assessment and social impact. Production, 25(4), 725-738.
Forman E., G. S. (2001). THE ANALYTIC HIERARCHY PROCESS-AN EXPOSITION. Operations Research, 49(4), 469-486.
Garciá-Melón et al. (2009). PROJECT PRIORISATION FOR PORTFOLIO SELECTION BASED ON THE ANALYTIC NETWORK PROCESS. Proceedings of the International Symposium on the Analytic Hierarchy Process 2009.
Garciá-Melón, e. a. (2009). PROJECT PRIORISATION FOR PORTFOLIO SELECTION BASED ON THE ANALYTIC NETWORK PROCESS. Proceedings of the International Symposium on the Analytic Hierarchy Process 2009.
Gomede and Barros. (2014). A Multicriteria Approach to Project Portfolio. 9th Iberian Conference on Information Systems and Technologies (CISTI).
Gosenheimer. (2012). Project Prioritization. Office of Quality Improvement.
Kaiser et al. (2014). “Successful project portfolio management beyond project selection techniques: Understanding the role of structural alignment ”. International Journal of Project Management, 14.
karlsson. (2015). Construction financial projection for strategic capital investment projects in a mining context. Research proposal presented at NFF PhD workshop. Copenhagen Business School.
Kendall G. and Rollins S. (2003). Advanced Project Portfolio Management and the PMO: Multiplying ROI at Warp Speed.
Kim and Lee. (2018). A probabilistic alternative approach to optimal project profitability based on the Value-at-Risk. Sustainability, 10, 747.
meisterplan. (2018, August). Retrieved from www.meisterplan.com.
Miller, J. (2002). A proven project portfolio management process. Paper. Project Management Institute Annual Seminars & Symposium. San Antonio, TX. Newtown Square, PA: Project Management Institute.
Padilla and Munoz. (2017). Selecting and Prioritization Projects: A study on Intergovernmental and Non-profit Organizations. Master Thesis. Umea School of Business and Economics.
Planisware. (2018, August). Retrieved from www.Planisware.com.
Plazibal and Babic. (1996). How to choose the best investment project - Multicriterial appeoach. Zbornik radova, 20, 59-69.
Project-Management-Institute. (2008). A Guide to the Project Managment Body of Knowledge: (PMBOK Guide). Maryland.
Project-Management-Institute. (2017). The standard for portfolio management. Pennsylvania: Project Management Institute Inc.
Tahri, H. (2015). Mathematical optimization methods: Application in project portfolio management. Procedia - Social and Behavioral Sciences, 210, 339 - 347.
Trebuna et al. (2017). Economic Evaluation of investment project in the area of sheet metal processing. METABK, 56(1-2), 245-248.
Vargas, R. (2010). Using the analytic hierarchy process (ahp) to select and prioritize projects in a portfolio. PMI® Global Congress 2010.
Vasović J. V., Radojičić M., NEŠIĆ Z.,. (2014). “Possibility Of Choosing Development Investment Programs Of A Production Company By Applying Discounted Investment Appraisal Technique”. Journal Of Engineering Management And Competitiveness (JEMC), 4(1), 41-46.
Commercial Surveys
Volume 19, Issue 108 - Serial Number 108
July and August 2022
Pages 31-48

  • Receive Date 18 July 2020
  • Revise Date 26 August 2020
  • Accept Date 08 September 2020