IDEAS home Printed from https://ideas.repec.org/a/spr/endesu/v23y2021i3d10.1007_s10668-020-00724-y.html
   My bibliography  Save this article

Appraising the triple bottom line utility of sustainable project portfolio selection using a novel multi-criteria house of portfolio

Author

Listed:
  • Seyed Farid Ghannadpour

    (Iran University of Science and Technology)

  • Ali Reza Hoseini

    (Iran University of Science and Technology)

  • Morteza Bagherpour

    (Iran University of Science and Technology)

  • Elmira Ahmadi

    (Iran University of Science and Technology)

Abstract

Sustainable development is one of the most fundamental scientific and practical fields of development in modern societies which its importance is more comprehensible in underdevelopment countries. Project management methodologies have been incorporated sustainable criteria to enhance the quality of their scope. The purpose of this research is to design an effective three-stage novel combination approach to estimate the sustainability utility of projects based on the sustainable principles and the ranking of projects through a novel multi-criteria house of portfolio in analytical network process (ANP) and quality function deployment (QFD) approaches. In the first step, using Sustainable Balanced Scorecard, key sustainability indicators are identified for ranking projects; then, using the QFD-ANP combination approach, identifying the relationships between the indicators, determining their significance and ranking projects are being implemented. Finally, the estimation of the sustainability utility function of reference projects is made according to the ranking of the projects from the QFD-ANP stage and using the UTASTAR method. The results of this research, in addition to identifying key indicators of sustainable development and classifying them in the form of Sustainable Balanced Scorecard, contain a prioritization pattern to select sustainable projects for current and future projects in an automotive company.

Suggested Citation

  • Seyed Farid Ghannadpour & Ali Reza Hoseini & Morteza Bagherpour & Elmira Ahmadi, 2021. "Appraising the triple bottom line utility of sustainable project portfolio selection using a novel multi-criteria house of portfolio," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(3), pages 3396-3437, March.
    • Handle: RePEc:spr:endesu:v:23:y:2021:i:3:d:10.1007_s10668-020-00724-y
    DOI: 10.1007/s10668-020-00724-y
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10668-020-00724-y
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s10668-020-00724-y?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. F Ghasemzadeh & N Archer & P Iyogun, 1999. "A zero-one model for project portfolio selection and scheduling," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 50(7), pages 745-755, July.
    2. Goumas, M. & Lygerou, V., 2000. "An extension of the PROMETHEE method for decision making in fuzzy environment: Ranking of alternative energy exploitation projects," European Journal of Operational Research, Elsevier, vol. 123(3), pages 606-613, June.
    3. Aragonés-Beltrán, Pablo & Chaparro-González, Fidel & Pastor-Ferrando, Juan-Pascual & Pla-Rubio, Andrea, 2014. "An AHP (Analytic Hierarchy Process)/ANP (Analytic Network Process)-based multi-criteria decision approach for the selection of solar-thermal power plant investment projects," Energy, Elsevier, vol. 66(C), pages 222-238.
    4. Yoram Wind & Thomas L. Saaty, 1980. "Marketing Applications of the Analytic Hierarchy Process," Management Science, INFORMS, vol. 26(7), pages 641-658, July.
    5. Lanndon A. Ocampo, 2019. "Applying fuzzy AHP–TOPSIS technique in identifying the content strategy of sustainable manufacturing for food production," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 21(5), pages 2225-2251, October.
    6. Green, Rodney H. & Doyle, John R. & Cook, Wade D., 1996. "Preference voting and project ranking using DEA and cross-evaluation," European Journal of Operational Research, Elsevier, vol. 90(3), pages 461-472, May.
    7. Muhittin Oral & Ossama Kettani & Pascal Lang, 1991. "A Methodology for Collective Evaluation and Selection of Industrial R&D Projects," Management Science, INFORMS, vol. 37(7), pages 871-885, July.
    8. Naser Bagheri Moghadam & Majid Samsami & Seyed Hossein Hosseini & Mahdi Sahafzadeh, 2015. "Utilisation of BSC to transform corporate-level goals into project portfolio strategies," International Journal of Project Organisation and Management, Inderscience Enterprises Ltd, vol. 7(2), pages 132-150.
    9. Grigoroudis, E. & Orfanoudaki, E. & Zopounidis, C., 2012. "Strategic performance measurement in a healthcare organisation: A multiple criteria approach based on balanced scorecard," Omega, Elsevier, vol. 40(1), pages 104-119, January.
    10. Saaty, Thomas L. & Takizawa, Masahiro, 1986. "Dependence and independence: From linear hierarchies to nonlinear networks," European Journal of Operational Research, Elsevier, vol. 26(2), pages 229-237, August.
    11. Teller, Juliane & Unger, Barbara & Kock, Alexander & Gemünden, Hans Georg, 2012. "Formalization of Project Portfolio Management: The Moderating Role of Portfolio Complexity," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 63283, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    12. Thomas L. Saaty & Luis G. Vargas, 1998. "Diagnosis with Dependent Symptoms: Bayes Theorem and the Analytic Hierarchy Process," Operations Research, INFORMS, vol. 46(4), pages 491-502, August.
    13. Andreas Möller & Stefan Schaltegger, 2005. "The Sustainability Balanced Scorecard as a Framework for Eco‐efficiency Analysis," Journal of Industrial Ecology, Yale University, vol. 9(4), pages 73-83, October.
    14. Van Huylenbroeck, G & Martens, L, 1992. "The Average Value Ranking Multi-criteria Method for Project Evaluation in Regional Planning," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 19(2), pages 237-252.
    15. Huang, Chi-Cheng & Chu, Pin-Yu & Chiang, Yu-Hsiu, 2008. "A fuzzy AHP application in government-sponsored R&D project selection," Omega, Elsevier, vol. 36(6), pages 1038-1052, December.
    16. Govers, Cor P. M., 2001. "QFD not just a tool but a way of quality management," International Journal of Production Economics, Elsevier, vol. 69(2), pages 151-159, January.
    17. Tavana, Madjid & Khosrojerdi, Ghasem & Mina, Hassan & Rahman, Amirah, 2019. "A hybrid mathematical programming model for optimal project portfolio selection using fuzzy inference system and analytic hierarchy process," Evaluation and Program Planning, Elsevier, vol. 77(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Youchao Tan & Yang Zhang & Roohollah Khodaverdi, 2017. "Service performance evaluation using data envelopment analysis and balance scorecard approach: an application to automotive industry," Annals of Operations Research, Springer, vol. 248(1), pages 449-470, January.
    2. Modak, Mousumi & Pathak, Khanindra & Ghosh, Kunal Kanti, 2017. "Performance evaluation of outsourcing decision using a BSC and Fuzzy AHP approach: A case of the Indian coal mining organization," Resources Policy, Elsevier, vol. 52(C), pages 181-191.
    3. Kahraman, Cengiz & Ertay, Tijen & Buyukozkan, Gulcin, 2006. "A fuzzy optimization model for QFD planning process using analytic network approach," European Journal of Operational Research, Elsevier, vol. 171(2), pages 390-411, June.
    4. Pishchulov, Grigory & Trautrims, Alexander & Chesney, Thomas & Gold, Stefan & Schwab, Leila, 2019. "The Voting Analytic Hierarchy Process revisited: A revised method with application to sustainable supplier selection," International Journal of Production Economics, Elsevier, vol. 211(C), pages 166-179.
    5. Adler, Nicole & Friedman, Lea & Sinuany-Stern, Zilla, 2002. "Review of ranking methods in the data envelopment analysis context," European Journal of Operational Research, Elsevier, vol. 140(2), pages 249-265, July.
    6. Liu, Hui-hui & Song, Yao-yao & Liu, Xiao-xiao & Yang, Guo-liang, 2020. "Aggregating the DEA prospect cross-efficiency with an application to state key laboratories in China," Socio-Economic Planning Sciences, Elsevier, vol. 71(C).
    7. Oral, Muhittin & Oukil, Amar & Malouin, Jean-Louis & Kettani, Ossama, 2014. "The appreciative democratic voice of DEA: A case of faculty academic performance evaluation," Socio-Economic Planning Sciences, Elsevier, vol. 48(1), pages 20-28.
    8. Choudhary, Devendra & Shankar, Ravi, 2012. "An STEEP-fuzzy AHP-TOPSIS framework for evaluation and selection of thermal power plant location: A case study from India," Energy, Elsevier, vol. 42(1), pages 510-521.
    9. Marco Rogna, 2019. "A First-Phase Screening Device for Site Selection of Large-Scale Solar Plants with an Application to Italy," BEMPS - Bozen Economics & Management Paper Series BEMPS57, Faculty of Economics and Management at the Free University of Bozen.
    10. Karasakal, Esra & Aker, Pınar, 2017. "A multicriteria sorting approach based on data envelopment analysis for R&D project selection problem," Omega, Elsevier, vol. 73(C), pages 79-92.
    11. P P Sutton & R H Green, 2007. "Choice is a value statement. On inferring optimal multiple attribute portfolios from non-optimal nominations," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 58(11), pages 1526-1533, November.
    12. Shin-Liang Chan & Wann-Ming Wey & Pin-Huai Chang, 2014. "Establishing Disaster Resilience Indicators for Tan-sui River Basin in Taiwan," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 115(1), pages 387-418, January.
    13. Pınar Kaya Samut, 2017. "Integrated FANP-f-MIGP model for supplier selection in the renewable energy sector," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 18(3), pages 427-450, May.
    14. Liang Liang & Jie Wu & Wade D. Cook & Joe Zhu, 2008. "The DEA Game Cross-Efficiency Model and Its Nash Equilibrium," Operations Research, INFORMS, vol. 56(5), pages 1278-1288, October.
    15. Yang, Guo-liang & Yang, Jian-bo & Liu, Wen-bin & Li, Xiao-xuan, 2013. "Cross-efficiency aggregation in DEA models using the evidential-reasoning approach," European Journal of Operational Research, Elsevier, vol. 231(2), pages 393-404.
    16. Shen, Yung-Chi & Chou, Chiyang James & Lin, Grace T.R., 2011. "The portfolio of renewable energy sources for achieving the three E policy goals," Energy, Elsevier, vol. 36(5), pages 2589-2598.
    17. Tahseen, Samiha & Karney, Bryan, 2017. "Opportunities for increased hydropower diversion at Niagara: An sSWOT analysis," Renewable Energy, Elsevier, vol. 101(C), pages 757-770.
    18. Masoud Rahiminezhad Galankashi & Farimah Mokhatab Rafiei & Maryam Ghezelbash, 2020. "Portfolio selection: a fuzzy-ANP approach," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 6(1), pages 1-34, December.
    19. Ali RezaHoseini & Zahra Rahmani & Morteza BagherPour, 2022. "Performance evaluation of sustainable projects: a possibilistic integrated novel analytic hierarchy process-data envelopment analysis approach using Z-Number information," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(3), pages 3198-3257, March.
    20. Hernandez-Perdomo, Elvis A. & Mun, Johnathan & Rocco S., Claudio M., 2017. "Active management in state-owned energy companies: Integrating a real options approach into multicriteria analysis to make companies sustainable," Applied Energy, Elsevier, vol. 195(C), pages 487-502.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:endesu:v:23:y:2021:i:3:d:10.1007_s10668-020-00724-y. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.