Project prioritization under policy restrictions. A combination of MCDA with 0-1 programming

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dc.contributor.author Mavrotas, G en
dc.contributor.author Diakoulaki, D en
dc.contributor.author Caloghirou, Y en
dc.date.accessioned 2014-03-01T01:24:53Z
dc.date.available 2014-03-01T01:24:53Z
dc.date.issued 2006 en
dc.identifier.issn 0377-2217 en
dc.identifier.uri http://hdl.handle.net/123456789/17497
dc.subject Integer programming en
dc.subject Multiple criteria en
dc.subject Project selection en
dc.subject.classification Management en
dc.subject.classification Operations Research & Management Science en
dc.subject.other Decision theory en
dc.subject.other Global optimization en
dc.subject.other Integer programming en
dc.subject.other Public policy en
dc.subject.other Resource allocation en
dc.subject.other Multiple criteria en
dc.subject.other Project selection en
dc.subject.other Project management en
dc.title Project prioritization under policy restrictions. A combination of MCDA with 0-1 programming en
heal.type journalArticle en
heal.identifier.primary 10.1016/j.ejor.2004.07.069 en
heal.identifier.secondary http://dx.doi.org/10.1016/j.ejor.2004.07.069 en
heal.language English en
heal.publicationDate 2006 en
heal.abstract Multiple Criteria Decision Aid methods are increasingly used in financial decision making in order to capture the multifaceted character of modern enterprises activated in a complex and versatile market environment. This paper presents a multiple criteria approach for the selection of firms applying for financial support from public funds. Besides the budget constraint, the specific decision situation imposes the consideration of additional policy constraints that prevent from directly exploiting rankings provided by a multiple criteria method. In such a case the problem solution is to find a set of alternatives satisfying the constraints and at the same time maximizing a measure of global performance. The proposed procedure relies on the PROMETHEE V method which belongs to the well-known PROMETHEE family of multiple criteria outranking methods and is combined with an integer programming formulation capable to effectively deal with the problem's combinatorial character. This method is modified in order to avoid any bias in the selection of the optimal set that may arrive because of the apparent contradiction between the rate of resources consumption and the coefficients of the alternatives in the additive objective function. (c) 2004 Elsevier B.V. All rights reserved. en
heal.publisher ELSEVIER SCIENCE BV en
heal.journalName European Journal of Operational Research en
dc.identifier.doi 10.1016/j.ejor.2004.07.069 en
dc.identifier.isi ISI:000233958300019 en
dc.identifier.volume 171 en
dc.identifier.issue 1 en
dc.identifier.spage 296 en
dc.identifier.epage 308 en

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