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

Mavrotas, G; Diakoulaki, D; Caloghirou, Y

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	https://dspace.lib.ntua.gr/xmlui/handle/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