Analysis of MCDM methods output coherence in oil and gas portfolio prioritization

Qaradaghi, Mohammed; Deason, Jonathan P.

doi:10.1007/s13202-017-0344-0

Cited by 9 publications

(5 citation statements)

References 47 publications

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“…In light of this fact, it might be claimed that more case studies/examples are required in order to confirm the global reliability of a particular MCDM method. In addition to sensitivity analysis and Spearman's rank correlation, Pearson's product-moment correlation coefficient and Kendall's coefficient of concordance could be used to assess the results of MCDM methods (Qaradaghi & Deason, 2018).…”

Section: The Mcdm Results Validationmentioning

confidence: 99%

Introducing Alternatives Ranking With Elected Nominee (Arwen) Method: A Case Study of Supplier Selection

Zakeri,

Chatterjee,

Konstantas

et al. 2023

Technological and Economic Development of Economy

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Supply chain management (SCM) has gradually evolved beyond the straightforward logic of benefits and economic viewpoints. Supplier selection and performance evaluation are the crucial strategic components of any SCM system with a substantial economic impact and risk reduction. Several conflicting factors make supplier selection a challenging multi-criteria decision-making problem. This paper introduces a method called alternative ranking with the elected nominee (ARWEN) to select suppliers in Iran’s dairy product chain store. The primary principle of ARWEN is to choose the best alternative based on the lowest change rate rather than the elected nominee. Four extensions of the ARWEN method are proposed depending upon the nature and level of information available to the decision-makers. A fifth extended version termed E-ARWEN is also recommended to consider the negative form of the elected nominee. Two novel statistical tools, the ranking performance index and the Zakeri-Konstantas distance product correlation coefficient, are also put forth to validate the ARWEN extensions’ outcomes. The results and verification of this new method are carried out through two supplier selection case examples. Comprehensive comparisons were carried out to explore the new methods’ behaviors, indicating ARWEN III and E-ARWEN have similar behavior to VIKOR, SAW, and EDAS in generating rankings.

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Section: The Mcdm Results Validationmentioning

confidence: 99%

Introducing Alternatives Ranking With Elected Nominee (Arwen) Method: A Case Study of Supplier Selection

Zakeri,

Chatterjee,

Konstantas

et al. 2023

Technological and Economic Development of Economy

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“…The application of several MCDM techniques addresses the deficiencies reported in specific methods (Qaradaghi and Deason, 2017). Two decision-making techniques are used in this research, namely complex proportional assessment (COPRAS) and operational competitiveness ratings analysis (OCRA).…”

Section: Methodsmentioning

confidence: 99%

Optimizing construction and demolition waste transportation for sustainable construction projects

Elshaboury

Marzouk

2020

ECAM

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PurposeThere have been numerous efforts to tackle the problem of accumulated construction and demolition wastes worldwide. In this regard, this study develops a model for identifying the optimum fleet required for waste transportation. The proposed model is validated through a case study from the construction sector in New Cairo, Egypt.Design/methodology/approachVarious fleet combinations are assessed against the time, cost, energy and emissions generated from waste transportation. Genetic algorithm optimization is performed to select the near-optimum solutions. Complex proportional assessment and operational competitiveness rating analysis decision-making techniques are applied to rank Pareto frontier solutions. These rankings are aggregated using an ensemble approach based on the half-quadratic theory. Finally, a sensitivity analysis is implemented to determine the most sensitive attribute.FindingsThe results reveal that the optimum fleet required for construction and demolition wastes (CDW) transportation consists of one wheel loader of bucket capacity 2.5 cubic meters and nine trucks of capacity 22 cubic meters. Furthermore, consensus index and trust level of 0.999 are obtained for the final ranking. This indicates that there is a high level of agreement between the rankings. Moreover, the most sensitive criterion (i.e. energy) is identified using a sensitivity analysis.Originality/valueThis study proposes an efficient and effective construction and demolition waste transportation strategy that will lead to economic gains and protect the environment. It aims to select the optimum fleet required for waste transportation based on economic, social and environmental aspects. The usefulness of this study is establishing a consensual decision through the aggregation of conflicting decision makers' preferences in waste transportation and management.

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“…TOPSIS yöntemi, ideal ve ideal olmayan bir çözü m bulmaya ve alternatiflerin her birinin bunlara olan mesafesini karşılaştırmaya dayanır [65]. En iyi alternatif, negatif ideal çözümden en uzun geometrik mesafeye ve pozitif ideal çözümden en kısa geometrik mesafeye sahiptir [66]. TOPSIS yöntemi basitliği, uygulanabilirliği ve farklı kriterlerin olduğu durumlarda yüksek hassasiyeti nedeniyle sıklıkla tercih edilen bir yöntemdir.…”

Section: Topsis (Topsis)unclassified

Vaks İçeren Kompozit Atıklar için En Uygun Değerlendirme Yönteminin Seçiminde Farklı Karar Verme Tekniklerinin Kullanılması

YILMAZBİLEK

Günkaya

Özkan

et al. 2022

Bilişim Teknolojileri Dergisi

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Vaks içeren kompozit atıklar (faz değiştirme malzemeleri, işlenmiş hazır gıda ambalajları vb.), karmaşık yapıları nedeniyle sürdürülebilir bir şekilde yönetilmeleri zor olan atık türlerindendir. En uygun değerlendirme yönteminin belirlenmesi aşamasında çevresel, ekonomik, teknik açıdan bütünsel bir yaklaşım sergilenmesi önemlidir. Bu noktada, birçok alandaki problemin çözümünde farklı kriterlerin yardımıyla en uygun alternatif seçiminin yapılabildiği Çok Kriterli Karar Verme Teknikleri (MCDM)’nin kullanımı mümkündür. Bu nedenle bu çalışmada, iki farklı MCDM yöntemi ile vaks içeren kompozit atıkların değerlendirilme yöntemi (kimyasal geri dönüşüm, mekanik geri dönüşüm, insinerasyon, piroliz ve depolama) bütünsel bir yaklaşım ile değerlendirilmiştir. Öncelikle, belirlenen kriterler (küresel ısınma potansiyeli, enerji kullanımı, sağlık etkisi, kimyasal kullanımı, işletme maliyeti, yatırım maliyeti, geri dönüştürülmüş malzeme kalitesi, teknolojik uygunluk, çevre politikalarına ve yasaya uygunluk, kaynakların korunumu) Entropi, CRITIC (Criteria Importance Through Intercriteria Correlation) ve SWARA (Step-wise weight assessment ratio analysis) metotları ile ağırlıklandırılmıştır. Her bir ağırlıklandırma metodundan elde edilen sonuçlar, MCDM yöntemleri olan ANP ve TOPSIS ile ayrı ayrı değerlendirilmiştir. Kullanılan tüm ağırlıklandırma yöntemleri ile yapılan ANP ve TOPSIS sonuçlarında piroliz alternatifinin en uygun seçenek olduğu belirlenmiştir.

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Analysis of MCDM methods output coherence in oil and gas portfolio prioritization

Cited by 9 publications

References 47 publications

Introducing Alternatives Ranking With Elected Nominee (Arwen) Method: A Case Study of Supplier Selection

Introducing Alternatives Ranking With Elected Nominee (Arwen) Method: A Case Study of Supplier Selection

Optimizing construction and demolition waste transportation for sustainable construction projects

Vaks İçeren Kompozit Atıklar için En Uygun Değerlendirme Yönteminin Seçiminde Farklı Karar Verme Tekniklerinin Kullanılması

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