IDEAS home Printed from https://ideas.repec.org/a/spr/grdene/v29y2020i4d10.1007_s10726-020-09673-3.html
   My bibliography  Save this article

Weighted Cumulative Belief Degree Approach for Project Portfolio Selection

Author

Listed:
  • Özge Şahin Zorluoğlu

    (Istanbul Technical University, Faculty of Management)

  • Özgür Kabak

    (Istanbul Technical University, Faculty of Management)

Abstract

Selecting a portfolio of projects is essential for organizations to sustain and develop their businesses and increase profitability. While creating a suitable portfolio, the opinions of the employees in the organization’s hierarchy about alternative projects can improve the decision process. In this paper, we structure the information technology/business development (IT/BD) project portfolio selection problem as a hierarchical group decision-making setting. Our aim is to process information provided from a large number of employees participating in the decision-making process and prevent the dominance of a single decision maker or biases due to irrelevant evaluations. A weighted cumulative belief degree approach is proposed for aggregating the evaluations of the decision makers and experts on the projects and on the importance weights of the criteria. We conduct a real-life case study in an organization in the automotive sector. The application shows that the proposed approach can enable getting evaluations from a large organization with less time and provides diverse results based on the several satisfaction levels.

Suggested Citation

  • Özge Şahin Zorluoğlu & Özgür Kabak, 2020. "Weighted Cumulative Belief Degree Approach for Project Portfolio Selection," Group Decision and Negotiation, Springer, vol. 29(4), pages 679-722, August.
    • Handle: RePEc:spr:grdene:v:29:y:2020:i:4:d:10.1007_s10726-020-09673-3
    DOI: 10.1007/s10726-020-09673-3
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10726-020-09673-3
    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/s10726-020-09673-3?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. Erdogmus, Senol & Kapanoglu, Muzaffer & Koc, Eylem, 2005. "Evaluating high-tech alternatives by using analytic network process with BOCR and multiactors," Evaluation and Program Planning, Elsevier, vol. 28(4), pages 391-399, November.
    2. Jiuping Xu & Zhibin Wu & Yuan Zhang, 2014. "A Consensus Based Method for Multi-criteria Group Decision Making Under Uncertain Linguistic Setting," Group Decision and Negotiation, Springer, vol. 23(1), pages 127-148, January.
    3. Wu, Yunna & Xu, Chuanbo & Ke, Yiming & Li, Xinying & Li, Lingwenying, 2019. "Portfolio selection of distributed energy generation projects considering uncertainty and project interaction under different enterprise strategic scenarios," Applied Energy, Elsevier, vol. 236(C), pages 444-464.
    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. Jeng, Don Jyh-Fu & Huang, Kuo-Hsin, 2015. "Strategic project portfolio selection for national research institutes," Journal of Business Research, Elsevier, vol. 68(11), pages 2305-2311.
    6. Ayfer Başar & Özgür Kabak & Y. İlker Topçu & Burçin Bozkaya, 2015. "Location Analysis in Banking: A New Methodology and Application For a Turkish Bank," International Series in Operations Research & Management Science, in: H. A. Eiselt & Vladimir Marianov (ed.), Applications of Location Analysis, edition 1, chapter 2, pages 25-54, Springer.
    7. Thomas L. Saaty & Luis G. Vargas, 2012. "Models, Methods, Concepts & Applications of the Analytic Hierarchy Process," International Series in Operations Research and Management Science, Springer, edition 2, number 978-1-4614-3597-6, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Umut Asan & Ayberk Soyer, 2022. "A Weighted Bonferroni-OWA Operator Based Cumulative Belief Degree Approach to Personnel Selection Based on Automated Video Interview Assessment Data," Mathematics, MDPI, vol. 10(9), pages 1-33, May.

    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. Md Monjurul Islam & Tofael Ahamed & Ryozo Noguchi, 2018. "Land Suitability and Insurance Premiums: A GIS-based Multicriteria Analysis Approach for Sustainable Rice Production," Sustainability, MDPI, vol. 10(6), pages 1-28, May.
    2. Tasneem Bani-Mustafa & Nicola Pedroni & Enrico Zio & Dominique Vasseur & Francois Beaudouin, 2020. "A hierarchical tree-based decision-making approach for assessing the relative trustworthiness of risk assessment models," Journal of Risk and Reliability, , vol. 234(6), pages 748-763, December.
    3. Hao-Chang Tsai & An-Sheng Lee & Huang-Ning Lee & Chien-Nan Chen & Yu-Chun Liu, 2020. "An Application of the Fuzzy Delphi Method and Fuzzy AHP on the Discussion of Training Indicators for the Regional Competition, Taiwan National Skills Competition, in the Trade of Joinery," Sustainability, MDPI, vol. 12(10), pages 1-19, May.
    4. Md. Arif Chowdhury & Hasnat Sabrina & Rashed Uz Zzaman & Syed Labib Ul Islam, 2022. "Green building aspects in Bangladesh: A study based on experts opinion regarding climate change," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(7), pages 9260-9284, July.
    5. Büyüközkan, Gülçin & Güleryüz, Sezin, 2016. "An integrated DEMATEL-ANP approach for renewable energy resources selection in Turkey," International Journal of Production Economics, Elsevier, vol. 182(C), pages 435-448.
    6. Zhang, Hengjie & Dong, Yucheng & Chiclana, Francisco & Yu, Shui, 2019. "Consensus efficiency in group decision making: A comprehensive comparative study and its optimal design," European Journal of Operational Research, Elsevier, vol. 275(2), pages 580-598.
    7. Uroš Kramar & Dejan Dragan & Darja Topolšek, 2019. "The Holistic Approach to Urban Mobility Planning with a Modified Focus Group, SWOT, and Fuzzy Analytical Hierarchical Process," Sustainability, MDPI, vol. 11(23), pages 1-29, November.
    8. Liu Fang & Peng Yanan & Zhang Weiguo & Pedrycz Witold, 2017. "On Consistency in AHP and Fuzzy AHP," Journal of Systems Science and Information, De Gruyter, vol. 5(2), pages 128-147, April.
    9. Daeryong Park & Myoung-Jin Um, 2018. "Robust Decision-Making Technique for Strategic Environment Assessment with Deficient Information," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 32(15), pages 4953-4970, December.
    10. May, Jerrold H. & Shang, Jennifer & Tjader, Youxu Cai & Vargas, Luis G., 2013. "A new methodology for sensitivity and stability analysis of analytic network models," European Journal of Operational Research, Elsevier, vol. 224(1), pages 180-188.
    11. Tiffany Hutcheson & Graeme Newell, 2018. "Decision-making in property Investment by Property Fund Managers," ERES eres2018_295, European Real Estate Society (ERES).
    12. Kajal Chatterjee & Sheikh Ahmed Hossain & Samarjit Kar, 2018. "Prioritization of project proposals in portfolio management using fuzzy AHP," OPSEARCH, Springer;Operational Research Society of India, vol. 55(2), pages 478-501, June.
    13. A H I Lee & H H Chen & H-Y Kang, 2009. "Operations management of new project development: innovation, efficient, effective aspects," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 60(6), pages 797-809, June.
    14. Vahid Karimi & Ezatollah Karami & Shobeir Karami & Marzieh Keshavarz, 2021. "Adaptation to climate change through agricultural paradigm shift," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(4), pages 5465-5485, April.
    15. Liquete, Camino & Udias, Angel & Conte, Giulio & Grizzetti, Bruna & Masi, Fabio, 2016. "Integrated valuation of a nature-based solution for water pollution control. Highlighting hidden benefits," Ecosystem Services, Elsevier, vol. 22(PB), pages 392-401.
    16. Billal Hossen & Helmut Yabar & Takeshi Mizunoya, 2021. "Land Suitability Assessment for Pulse (Green Gram) Production through Remote Sensing, GIS and Multicriteria Analysis in the Coastal Region of Bangladesh," Sustainability, MDPI, vol. 13(22), pages 1-24, November.
    17. Chen, Hsing Hung & Kang, He-Yau & Lee, Amy H.I., 2010. "Strategic selection of suitable projects for hybrid solar-wind power generation systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 14(1), pages 413-421, January.
    18. Zanardo, Rafael Petri & Siluk, Julio Cezar Mairesse & de Souza Savian, Fernando & Schneider, Paulo Smith, 2018. "Energy audit model based on a performance evaluation system," Energy, Elsevier, vol. 154(C), pages 544-552.
    19. Dalton Garcia Borges de Souza & Erivelton Antonio dos Santos & Nei Yoshihiro Soma & Carlos Eduardo Sanches da Silva, 2021. "MCDM-Based R&D Project Selection: A Systematic Literature Review," Sustainability, MDPI, vol. 13(21), pages 1-34, October.
    20. Kulisic, Biljana & Dimitriou, Ioannis & Mola-Yudego, Blas, 2021. "From preferences to concerted policy on mandated share for renewable energy in transport," Energy Policy, Elsevier, vol. 155(C).

    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:grdene:v:29:y:2020:i:4:d:10.1007_s10726-020-09673-3. 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.