A hybrid multi-attribute decision-making procedure for ranking project proposals: A historical data perspective

Amar Oukil*, Srikrishna Madhumohan Govindaluri

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

10 Citations (Scopus)

Abstract

This paper develops a hybrid multiattribute decision-making methodology for ranking project proposals (PPs) through a judicious usage of historical data of completed projects to determine attribute weights, enabling elimination of problems associated with projected data such as cost and schedule overruns of real-world projects. The weights generated from data envelopment analysis are explicitly utilized for ranking PPs while allowing subjectivity to be ingeniously incorporated into the decision process. The new approach is implemented for ranking 25 PPs, and the rankings it yields are found indifferent to the decision maker's attitude, which ascertains the robustness of the ranking methodology.

Original languageEnglish
Pages (from-to)461-472
Number of pages12
JournalManagerial and Decision Economics
Volume41
Issue number3
DOIs
Publication statusPublished - Apr 1 2020
Externally publishedYes

ASJC Scopus subject areas

  • Business and International Management
  • Strategy and Management
  • Management Science and Operations Research
  • Management of Technology and Innovation

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