Using multicriteria analysis and fuzzy logic for project portfolio management

Goal: The purpose of the research is to apply a method of decision support to prioritize flight simulators of the Air Force Command in view of the country”s budget constraints in the defense sector. Methodology: The research was performed with the Analytic Hierarchy Process (AHP), associated with hypothesis tests to define the preference or equivalence relationships between the simulators. Data collection involved the support of 32 Air Force specialists with extensive experience in the chosen simulators. Results: The T-27 Tucano simulator was preferred, followed by the C-95M Bandeirantes and the C-105 Amazonas, which obtained statistical similarity to each other. In fourth place was the A-29 Super Tucano simulator. The two simulators that had the least preference were the F-5M Tiger II and the A-1 AMX, which achieved results that were statistically close to each other. Limitations: Any multicriteria decision aid technique embeds its features and limitations. This is not exclusive to AHP, although the consistency ratio is a differential in relation to other methods. The expert sample also reflects the preferences of a group, with reservations to the generalization of the results. Practical implications: The findings of this research can be used in practice, by assisting the Brazilian Air Force in applying its scarce financial resources to prioritize flight simulators. Originality / Value: The research is unique to the Brazilian Air Force, in particular to the Center that oversees flight simulators, and is also relevant in including hypothesis testing to AHP results.

Section: Methodsmentioning

confidence: 99%

Prioritizing flight simulators of the brazilian air force by the analytic hierarchy process and hypothesis tests

Assis¹,

Gavião²,

Kostin³

et al. 2022

“…A project portfolio is a collection of projects, programs, and sub-portfolios controlled by a group to accomplish the organization's strategic objectives (Agápito et al, 2019;Graves and Ringuest, 1992;Liberatore, 1993;Project Management Institute, 2017;Souza et al, 2020).…”

Section: Project Portfolio Management and Selectionmentioning

confidence: 99%

“…Therefore, a well-structured and assertive project portfolio selection (PPS) becomes extremely important for the pharmaceutical market to keep competitive. In this context, in times of resource contingency, prioritizing the enterprise's strategically critical projects, analyzing the previously established strategic goals, and the accomplishment of ongoing projects are the project portfolio management (PPM) purposes (Agápito et al, 2019).…”

Section: Introductionmentioning

confidence: 99%

“…This approach comprises fuzzy-AHP and fuzzy-VIKOR methods. For illustration, Agápito et al (2019) examined the context of PPS using the fuzzy-AHP Method but in the public management sector. However, as we present in the subsection "Related works," we did not identify any research that used this hybrid MCDM approach in the pharmaceutical market.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Integrating fuzzy-MCDM methods to select project portfolios under uncertainty: the case of a pharmaceutical company

Souza

Santos

Silva

et al. 2022

Goal: The present work aims to improve the project portfolio selection processes under uncertainty of pharmaceutical companies by integrating two Multicriteria Decision Making (MCDM) methods in a fuzzy environment: the AHP and the VIKOR methods. Design / Methodology / Approach: We employed normative axiomatic modeling as the methodology for our work. The MCDM are subjective methods representing decision-makers preferences and assisting the project portfolio selection process. Thus, the model is founded on integrating the fuzzy-AHP and fuzzy-VIKOR methods; the first one determines the importance of the company's strategy and the second for elaborating the project ranking. We validated this methodology in a Brazilian subsidiary of one of the biggest pharmaceutical enterprises worldwide. Results: The developed model considers the evaluators' scores' indecision, enhancing the project portfolio selection process and optimizing its decision-making. Limitations of the investigation: The proposed method does not verify the correlation, interdependence, or cannibalization between the criteria and the projects, which are common limitations to MCDM subjective approaches. In addition, resource constraints are not considered and scheduling routines. Practical implications: The pharmaceutical market is heated by the increase in life expectancy, greater access to medications, and the most recurrent disease outbreaks, resulting in greater competitiveness, increasing the need for companies to seek greater strategic projects selection efficiency. Originality / Value: A well-structured and assertive project portfolio selection becomes extremely important for the pharmaceutical market to keep the company competitive in the market, which explains the importance of this work.

“…In the scientific literature, it is common to find articles that use the method AHP to: (i) select one of a set of alternatives (Santis et al, 2017;Qin et al;Tavana et al, 2019); and (ii) classify a specific scenario into a set of predefined categories (Chakraborty et al, 2019;Karan et al, 2019;Yang et al, 2019). However, some articles use AHP to define weights, which will serve as input to other methods, such as fuzzy logic (Agápito et al, 2019;Peng et al, 2019), heuristics (Wang et al, 2018;Toktas and Can, 2019), etc.…”

Section: Analytic Hierarchy Processmentioning

confidence: 99%

Hybrid VNS-Ts Heuristics for University Course Timetabling Problem

Vianna

Martins²,

Lima³

et al. 2020

Self Cite

Goal: Propose hybrid heuristics combining VNS and Tabu Search (TS) for adding adaptability to University Course Timetabling Problem (UCTTP) resolution. Design / Methodology / Approach: VNS and TS metaheuristics were used isolated and in combination in order to verify which shape acquired the best solutions. Those heuristics were verified using constraints found at two undergraduate courses of Federal Fluminense University. Effectiveness is verified by comparing them with solutions manually elaborated by undergraduate course coordinators. Results: The computational results showed the efficiency of the hybrid VNS-TS heuristics, with emphasis on the heuristic VNS-TS1, which uses tabu search as local search method. Practical implications: The hybrid heuristic VNS-TS1 has been in use since the first half of 2019 by some of UFF undergraduate courses coordinations. Even though each university has specific constraints on its timetable, the use of the proposed heuristics is possible because it has been developed using the framework FINESS that allows for the easy insertion and removal of constraints. Originality / Value: We have the following innovative contributions: Development of heuristics with a high degree of adaptation to the needs of educational institutions; Two proposed VNS-TS heuristics; Proposed VND-TS improvement method.