A hybrid fuzzy MCDM approach for sustainable project portfolio selection problem and an application for a construction company

Year 2021, Volume: 23 Issue: 2, 182 - 194, 01.12.2021

Gülçin Bektur

https://doi.org/10.33707/akuiibfd.911236

Cited By: 1

Abstract

Although the construction sector is an indispensable sector in meeting human needs, it also has negative environmental and social effects. The construction industry has environmental impacts due to its significant share in consuming scarce resources and big amount of greenhouse gas emissions to the atmosphere. It is also a labor force-intensive industry. Due to the intensity of the labor force, ignoring social concerns cause a negative social image. Consequently, taking sustainability into consideration for construction projects is of great importance in terms of solutions to social and environmental problems. Due to limited resources, it is not possible to implement every project for companies. The most suitable projects are preferred among alternative projects. The problem of project portfolio selection (PPS) is an important decision problem that companies frequently encounter. Many factors should be taken into consideration for selecting projects. In many studies in the literature, the problem of PPS is addressed only by considering economic criteria. In this study, the problem of PPS is addressed with sustainability consideration. Considering sustainability, environmental and social factors have also been taken into account besides economic factors. A hybrid fuzzy multi-criteria decision-making (FMCDM) approach has been used due to uncertainties in the decision process. In the hybrid approach, the methods of Fuzzy complex proportional assessment (F-COPRAS) and Fuzzy step-wise weight assessment ratio analysis (F-SWARA) are used together. An application is conducted for a construction company.

Keywords

Project portfolio selection problem, Hybrid fuzzy multi criteria decision making method, Fuzzy SWARA, Fuzzy COPRAS

Sürdürülebilir proje portföy seçim problemine hibrit bulanık ÇKKV yaklaşımı ve bir inşaat firması için bir uygulama

Abstract

İnşaat sektörü insan ihtiyaçlarının karşılanmasında vazgeçilmez bir sektör olmakla birlikte, olumsuz çevresel ve sosyal etkileri olan bir sektördür. İnşaat sektörü, kıt kaynakların tüketimindeki önemli payı ve atmosfere büyük miktarda sera gazı emisyonu nedeniyle çevresel etkilere sahiptir. Aynı zamanda işgücü yoğun bir endüstridir. İşgücünün yoğunluğundan dolayı sosyal kaygıların göz ardı edilmesi olumsuz bir sosyal imaja neden olmaktadır. Dolayısıyla inşaat projelerinde sürdürülebilirliğin dikkate alınması sosyal ve çevresel sorunların çözümü açısından büyük önem taşımaktadır. Kaynakların kısıtlı olmasından dolayı her projeyi firmaların hayata geçirmesi mümkün değildir. Alternatif projeler arasında en uygun projeler tercih edilmektedir. Proje portföy seçimi (PPS), şirketlerin sıklıkla karşılaştığı önemli bir karar problemidir. Proje seçerken birçok faktör dikkate alınmalıdır. Literatürdeki birçok çalışmada PPS problemi sadece ekonomik kriterler dikkate alınarak ele alınmaktadır. Bu çalışmada, sürdürülebilirlik dikkate alınarak PPS problemi ele alınmıştır. Sürdürülebilirlik göz önünde bulundurularak ekonomik faktörlerin yanı sıra çevresel ve sosyal faktörler de dikkate alınmıştır. Karar sürecindeki belirsizlikler nedeniyle bulanık bir yaklaşım kullanılmıştır. Problemin çözümü için hibrit bulanık çok kriterli karar verme (ÇKKV) yaklaşımı kullanılmaktadır. Alternatif projelerin sürdürülebilirlik açısından değerlendirilmesinde Bulanık karmaşık orantılı değerlendirme (F-COPRAS) ve Bulanık adım adım ağırlık değerlendirme oran analizi (F-SWARA) yöntemleri birlikte kullanılmaktadır. Önerilen yöntem bir inşaat firmasında uygulanmıştır.

Keywords

Proje portföy seçimi problemi, Hibrit bulanık çok kriterli karar verme yöntemi, Bulanık SWARA, Bulanık COPRAS

References

• Agarwal, S., Kant, R., & Shankar, R. (2020). Evaluating solutions to overcome humanitarian supply chain management barriers: A hybrid fuzzy SWARA- fuzzy WASPAS approach. International Journal of Disaster Risk Reduction, 51, 101838.
• Alkan, Ö., & Albayrak, Ö.K. (2020). Ranking of renewable energy sources for regions in Turkey by fuzzy entropy based fuzzy COPRAS and fuzzy MULTIMOORA. Renewable Energy, 162, 712- 726.
• Amirian, H., & Sahraeian, R. (2017). Solving a grey project selection scheduling using a simulated shuffled frog leaping algorithm. Computers and Industrial Engieering, 107, 141- 149.
• Dhiman, H.S., & Deb, D. (2020). Fuzzy TOPSIS and fuzzy COPRAS based multi- criteria decision making for hybrid wind farms. Energy, 202, 117755.
• Ghorabaee, M.K., Amiri, M., Zavadskas, E.K., &Antucheviciene, J. (2018). A new hybrid fuzzy MCDM approach for evaluation of construction equipment with sustainability considerations. Archives of Civil and Mechanical Engineering, 18 (1), 32- 49.
• Goel, A., Ganesh, L. S., & Kaur, A. (2019). Sustainability integration in the management of construction projects: A morphological analysis of over two decades’ research literature. Journal of Cleaner Production, 236, 117676.
• Habibi, F., Barzinpour, F., & Sadjadi, S. J. (2019). A mathematical model for project scheduling and material ordering problem with sustainability considerations: A case study in Iran. Computers and Industrial Engineering, 128, 690- 710.
• Hosseininasab, S., & Shetab- Boushehri, S. (2015). Integration of selecting and scheduling urban road construction projects as a time- dependent discrete network design problem. European Journal of Operational Research, 246, 762- 771.
• Huang, X., Zhao, T., & Kudratova, S. (2016). Uncertain mean- variance and mean- semivariance models for optimal project selection and scheduling. Knowledge- Based Systems, 93, 1- 11.
• Kaya, S.K., & Erginel, N. (2020). Futuristic airport: A sustainable airport design by integrating hesitant fuzzy SWARA and hesitant fuzzy sustainable quality function deployment. Journal of Cleaner Production, 275, 123880.
• Kersuliene, V., Zavadskas, E.K., & Turskis, Z. (2010). Selection of rational dispute resolution method by applying new stepwise weight assessment ratio anaysis (SWARA). Journal of Business Economics and Management, 11 (2), 243- 258.
• Khalili- Damghani, K., & Sadi- Nezhad, S. (2013). A decision support system for fuzzy multi –objective multi–period sustainable project selection. Computers and Industrial Engineering, 64, 1045- 1060.
• Khalili- Damghani, K., & Sadi- Nezhad, S. (2013). A hybrid fuzzy multiple criteria group decision making approach for sustainable project selection. Applied Soft Computing, 13, 339- 352.
• Kudratova, S., Huang, X., & Zhou, X. (2018). Sustainable project selection: optimal project selection considering sustainability under reinvestment strategy. Journal of Cleaner Production, 203, 469-481.
• Kumar, M., Mittal, M.L., Soni, G., &Joshi, D. (2018). A hybrid TLBO- TS algorithm for integrated selection and scheduling of projects. Computers and Industrial Engineering, 119, 121- 130.
• Mardani, A., Saraji, M.K., Mishra, A.R., & Rani, P. (2020). A novel extended approach under hesitent fuzzy sets to design a framework for assessing the key challenges of digital health interventions adoption during the COVID- 19 outbreak. Applied Soft Computing, 96, 106613.
• Mavi, R. K., & Standing, C. (2018). Critical success factors of sustainable project management in construction: A fuzzy DEMATEL- ANP approach. Journal of Cleaner Production, 194, 751- 765.
• Miralinaghi, M., Seilabi, S., Chen, S., Hsu, Y., & Labi, S. (2020). Optimizing the selection and scheduling of multi-class projects using a Stackelberg framework. European Journal of Operational Research, 286, 508- 522.
• Mishra, A.R., Rani, P., Mardani, A., Pardasani, K.R., Govindan, K., & Alrasheedi, M. (2020). Healthcare evaluation in hazardous waste recycling using novel interval- valued intuitionistic fuzzy information based ob complex proportional assessment method. Computers and Industrial Engineering, 139, 106140.
• Nemati- Lafmejani, R., Davari- Ardakani, H., & Najafzad, H. (2019). Multi- mode resource constrained project scheduling and contractor selection: Mathematical formulation and metaheuristic algorithms. Applied Soft Computing Journal, 81, 105533.
• Perez, F., Gomez, T., Caballero, R., & Liern, V. (2018). Project portfolio selection and planning with fuzzy constraints. Technological Forecasting and Social Change, 131, 117- 129.
• RezaHoseini, A., Ghannadpour, S. F., & Hemmati, M. (2020). A comprehensive mathematical model for resource- constrained multi- objective Project portfolio selection and scheduling considering sustainability and projects splitting. Journal of Cleaner Production, 269, 122073.
• Sanchez, M. A. (2015). Integrating sustainability issues into project management. Journal of Cleaner Production, 96, 319- 330.
• Sarnataro, M., Barbati, M., & Greco, S. (2020). A portfolio approach for the selection and the timing of urban planning projects. Socio- Economic Planning Sciences, (In press)
• Schitea, D., Deveci, M., Iordache, M., Bilgili, K., Akyurt, İ.Z., & Iordache, I. (2019). Hydrogen mobility roll- up site selection using untuitionistic fuzzy sets based WASPAS, COPRAS and EDAS. International Journal of Hydrogen Energy, 44 (16), 8585- 8600.
• Shafahi, A., & Haghani, A. (2018). Project selection and scheduling for phase- able projects with interdependencies among phases. Automation in Construction, 93, 47- 62.
• Shariatmadari, M., Nahavandi, N., Zegordi, S.H., & Sobhiyah, M.H. (2017). Integrated resource management for simultaneous Project selection and scheduling. Computers and Industrial Engineering, 109, 39- 47.
• Stanitsas, M., Kirytopoulos, K., & Leoğoulos, V. (2021). Integrating sustainability indicators into project management: The case of construction industry. Journal of Cleaner Production, 279, 123774
• Song, S., Yang, F., & Xia, Q. (2019). Multi- criteria project portfolio selection and scheduling problem based on acceptability anaysis. Computers and Industrial Engineering, 135, 793- 799.
• Tofighian, A.A., & Naderi, B. (2015). Modeling and solving the project selection and scheduling. Computers and Industrial Engineering, 83, 30- 38.
• Wu, Y., Xu, C., Ke, Y., Tao, Y., & Li, X. (2019). Portfolio optimization of renewable energy projects under type- 2 fuzzy environment with sustainability perspective. Computers and Industrial Engineering, 133, 69- 82.
• Zadeh, L. A. (1965). Fuzzy sets. Information and Control, 8, 338- 353.
• Zarbakhshnia, N., Soleimani, H., & Ghaderi, H. (2018). Sustainable third- part reverse logistics provider evaluation and selection using fuzzy SWARA and developed fuzzy COPRAS in the presence of risk criteria. Applied Soft Computing, 65, 307- 319
• Zavadskas, E.K., Kaklauskas, A., & Sarka, V. (1994). The new method of multiciriteria complex proportional assessment of projects. Technological and Economic Development of Economy, 1 (3),131- 139.