Research Article
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Promethee Sıralama Yöntemi İle Yatırım Projesi Değerlendirme ve Üretim Sektöründe Uygulanması

Year 2019, Volume: 9 Issue: 2, 183 - 208, 25.12.2019

Abstract

Günümüz koşullarında firmaların mevcut durumlarını devam ettirebilmesi veya
büyüyerek pazarda daha geniş pay alabilmesi için yatırım yapması kaçınılmaz
hale gelmiştir. Bu çalışmada, çimento sektöründe yatırım yapma kararı veren bir
yatırımcının dört ayrı ilde bulunan çimento fabrikaları arasında öncelikli
yatırımı belirlemek için, literatürde çok kriterli karar verme metotları
arasında tanımlanan PROMETHEE (The Preference Ranking Organization Method For
Enrichment Evaluation) sıralama yöntemi uygulanmıştır. Proje değerlendirme
kriterleri olarak dikkate alınan iç karlılık oranı, fayda maliyet oranı, geri
ödeme süresi, ortalama karlılık oranı, başa baş noktası, mevcut kapasite
kullanım oranı ve nitelikli istihdam oranına ait kriter ağırlıkları yapılan
anket çalışması ile belirlenmiştir. Kriterlerin Analitik Hiyerarşi Prosesi
(AHP) yöntemi ile belirlenen ağırlıkları ve eşit ağırlık verilmesi durumu
dikkate alınmıştır. Her iki durum için PROMETHEE I ile kısmi sıralama,
PROMETHEE II ile tam sıralama yapılarak alternatifler önceliklendirilmiştir.
Ardından kriter ağırlık analizi, durağan aralık analizi ve GAIA analizi
yapılmıştır. Böylece karar vericiye alternatif yatırımlar arasında en uygun
projeyi belirlemesinde yardımcı olunması sağlanmıştır. 

Supporting Institution

-

Project Number

-

Thanks

-

References

  • Albadvi., A., Chaharsooghi, S.K., Esfahanipour, A. (2007). Decision Making in Stock Trading: An Application Of PROMETHEE. European Journal of Operational Research, 177: 673-683.
  • Amiri, M., P. (2010). Project Selection For Oil-Fields Development by Using The AHP and Fuzzy TOPSIS Methods. Expert System with Applications, 37 (9): 6218-6224.
  • Amiri, M.P. (2010) Project Selection For Oil-Fields Development By Using The AHP And Fuzzy TOPSIS Methods. Expert Systems with Applications, 37: 6218-6224.
  • Araz, C., Özfırat, P.M., Özkarahan, İ. (2006). An Integrated Multicriteria Decision- Making Methodology for Outsourcing Management. Computers & Operations Research, 12: 545-550.
  • Araz, C., Özkarahan, İ. (2007). Supplier Evaluation and Management System for Strategic Sourcing Based On A New Multicriteria Sorting Procedure. International Journal of Production Economics, 106(2): 585-606.
  • Araz, C., Özkarahan, İ. (2007). Supplier Evaluation and Management System for Strategic Sourcing Based On A New Multicriteria Sorting Procedure. International Journal of Production Economics, 106 (2): 585-606.
  • Barbarasoğlu, G., Yazgaç, T. (1997). An Application Of The Analytic Hierarchy Process to the Supplier Selection Problem. Production and Inventory Management Journal, 16 (2): 4.
  • Behzadian, M., Kazemzadeh, R.B., Albadvi, A., Aghdasi, M. (2010). Promethee: A Comprehensive Literature Review On Methodologies And Applications, European Journal of Operational Research, 200: 198-215.
  • Beltran, A., Gonzales, C., Ferrando, P., Pozo, R. (2010). An ANP-Based Approach For The Selection of Photovoltaic Solar Power Plant Investment Projects. Renewable and Sustainable Energy Reviews, 14 (1): 249-264.
  • Bois, D., Brans, J.P., Cantraine, F., Mareschal, B. (1989). MEDICIS: An Expert System for Computer-Aided Diagnosis Using The PROMETHEE Multicriteria Method, European Journal of Operational Resarch, 39 (3): 284-292.
  • Borgonovo, E., Gatti, S., Peccati, L. (2010). What Drives Value Creation in Investment Projects? An application Of Sensitivity Analysis To Project Finance Transactions, European Journal of Operational Research, 205 (1): 227-236.
  • Borgonovo,E., Peccati, L. (2004) Sensitivity Analysis in Invesment Project Evaluation. International Journal of Production Economics, 90 (1) : 17-25.
  • Brans, J.P., Vincke, P., Mareschal, B. (1986). How to Select and How to Rank Projects: The PROMETHEE Method. European Journal of Operational Resarch, 24 (2): 228-238.
  • Briggs, Kunsch, P.L., Mareschal, B. (1990). Nunclear Waste Management : An Application of The Multicriteria PROMETHEE Methods. European Journal of Operational Resarch, 44 (1):1-10.
  • Chin K.S. , Chiu, S. ve Tummala, V. M. R. (1999). An Evaluation Of Success Factors Using The AHP To Implement ISO 14001-Based EMS. International Journal of Quality and Reliability Management, 16 (4): 341-361.
  • Costa, J.P., Melo, P., Godinho, P., and Dias, L.C. (2003). The AGAP System : A GDSS for Project Analysis and Evaluation. European Journal of Operational Research, 145 (2) : 287-303.
  • Dağdeviren, M., Eren, T. (2001). Tedarikçi Firma Seçiminde Analitik Hiyerarsi Prosesi ve 0-1 Hedef Programlama Yöntemlerinin Kullanılması. Gazi Üniversitesi Mühendislik Mimarlık Fakültesi Dergisi, 16: 2, 41-52.
  • Dağdeviren, M., Eraslan, E. (2008). PROMETHEE Sıralama Yöntemi ile Tedarikçi Seçimi. Gazi Üniversitesi Mühendislik Mimarlık Fakültesi Dergisi, 23 (1): 69-75.Dağdeviren, M., Yılmaz, B. (2011). A Combined Approach For Equipment Selection: F-PROMETHEE Method And Zero–One Goal Programming. Expert System with Applications.
  • Dey, P.K. (2006). Integrated Project Evaluation and Selection Using Multiple-Attribute Decision-Making Technique, International Journal of Production Economics, 103 (1): 90-103.
  • Dimova, L., Sevastianov, P., Sevastianov, D. (2006). MCDM in Fuzzy Setting: Investment Projects Assetment Application. International Journal of Production Economics, 100 (1) : 10-29.
  • Eraslan, E., Algün, O. (2005). İdeal Performans Değerlendirme Formu Tasarımında Analitik Hiyerarşi Yöntemi Yaklaşımı. Gazi Üniversitesi Mühendislik Mimarlık Fakültesi Dergisi, 20: 1, 95-106.
  • Güvemli, O. (2001). Yatırım Projelerinin Düzenlenmesi, Değerlendirilmesi ve İzlenmesi (ss. 317-319).Atlas Yayın Dağıtım Ltd. Şti. İstanbul.
  • Halouani, N., Chabchoub, H., Martel, J.M. (2009). PROMETHEE-MD-2T Method For Project Selection. European Journal of Operational Research, 195: 841-849.
  • Hwang, H.S. (2004). Web-Based Multi-Attribute Analysis Model For Engineering Project Evaluation. Computer& Industrial Engineering, 46: 669-678.
  • Imotoa, S., Yabuuchib, Y., Watada, J. (2008). Fuzzy Regression Model of R&D Project Evaluation, Applied Soft Computing, 8 (3): 1266-1273.
  • Jung, U., Seo, D., W. (2010). An ANP Approach For R&D Project Evaluation Based On Interdependencies Between Research Objectives and Evaluation Criteria, Decision Support Systems, 49 (3): 335-342.
  • Kahraman, C., Cebeci, U., Ruan, D. (2004). Measuring Customer Satisfaction Of Catering Service Companies Using Fuzzy Ahp: The Case Of Turkey. International Journal of Production Economics, 87: 171-184.
  • Kamal, M., Subhi, H. (2001). Application Of The AHP In Project Management. International Journal of Project Management, 19: 19-27.
  • Khalil, M.A. (2002). Selecting The Appropriate Project Delivery Method Using AHP. International Journal of Project Management, 20: 469-474.
  • Koli, S., Hamid R. P. (1992) Multi-Criteria Analysis in The Evaluation Of Advanced Manufacturing Techonology Using Promethee. Computer& Industrial Engineering, 23 (1-4): 455-458.
  • Kücü, H. (2007). Promethee Sıralama Yöntemi İle Personel Seçimi ve Bir İşletmede Uygulanması. Yüksek Lisans Tezi, Gazi Üniversitesi, Fen Bilimleri Enstitüsü.
  • Liu, P., Zhang, X., Liu, W. (2011). A risk Evaluation Method For The High-Tech Project Investment Based On Uncertain Linguistic Variables. Technological Forecasting and Socaial Change, 78: 40-50.
  • Macharis, C., Springael, J., Brucker, K.D., Verbeke, A. (2004). PROMETHEE and AHP : The Design of Operational Synergies in Multicriteria Analysis : Strengthening PROMETHEE With Ideas Of AHP. European Journal of Operational Resarch, 153 (2) :307- 317.
  • Melon, M.G., Beltran, P.A., Cruz, M.C.G. (2006). An AHP Based Evaluation Procedure For Innovative Educational Projects : A Face To Face vs. Computer-Mediated Case Study. Omega, 36: 754-765.
  • Partovi, F., and Hopton, W. (1994). The Analytic Hierarchy Process As Applied to Two Types of Inventory Problems. Production and Inventory Management Journal, 1: 13-19.
  • Pavic, I., Babic, Z. (1991). The Use of The PROMETHEE Method in The Location Choice Of A Production System. International Journal of Production Economics, 23 (1-3): 165-174.
  • Saaty, L.T. (1994). Highlights And Critical Points In The Theory And Application Of The Analytical Hierarchy Process. European Journal of Operational Research, 74, 426-447.
  • Saaty, T. (2000). The Analytic Hierarchy and Analytic Network Process. MCDM XV-th International Conference, Ankara, Turkey, 1-5.
  • Saaty, T.L. (1990). How To Make A Decision: The Analytic Hierarchy Process. European Journal of Operational Research, 48: 9-26.
  • Sarıaslan, H. (2002). Yatırım Projelerinin Hazırlanması ve Değerlendirilmesi: Planlama-Analiz-Fizibilite (ss. 210-220). Turhan Kitabevi, Ankara.
  • Satty, T.L., (1994). Fundamentals of Decision Making and Priority Theory With The Analytic Hierarchy Process. RWS Publications, Pitssburgh.
  • Shin, C.,O., Yoo, S., H., Kwak, S., J. (2007). Applying The Analytic Hierarchy Process To Evaluation Of The National Nuclear R&D Projects: The Case Of Korea. Progress In Nuclear Energy, 49 (5): 375-384.
  • Stokdyk, S.B., Remer, D.S. and Driel., M.V .(1993). Survey of Project Evaluation Techniques Currently Used in Industry. International Journal of Production Economics, 32 (1) : 103-115.
  • Vidal, L., A., Marle, F., Bocquet, J., C. (2011). Using a Delphi Process and The Analytic Hierarchy Process (AHP) to Evaluate The Complexity of Projects, Expert Systems with Applications, 38 (5): 5388-5405.
  • Vidal, L.A., Marle, F., Bocquet, J.C. (2010). Using A Delphi Process And The Analytic Hierarchy Process (AHP) To Evaluate The Complexity Of Projects. Expert Systems with Applications, 38: 5388-5405.
  • Woodward, D.G. (1995) Use of Sensitivity Analysis in Build-Own-Operate-Transfer Project Evaluation. International Journal of Project Management, 13 (4) : 239-246.Xiang,W., Yi, B. (2010). An Extension Of The Promethee Method Based On Generalized Fuzzy Numbers, Expert System with Applications, 37: 5314-5319.
  • Yurdakul, M., İç, Y.T. (2004). AHP Approach In The Credit Evaluation Of The Manufacturing Firms In Turkey. International Journal of Production Economics, 88: 269-289.
  • Zhang, W., G., Meia. Q., Lua, Q., Xiao, W., L. (2011). Evaluating Methods of Investment Project and Optimizing Models of Portfolio Selection in Fuzzy Uncertainty. Computers & Industrial Engineering

Investment Project Evaluation with Promethee Sequencing Method and Its Application to The Production Sector

Year 2019, Volume: 9 Issue: 2, 183 - 208, 25.12.2019

Abstract

Nowadays making investment has become inevitable for firms to maintain
their current position and to get a larger share of the market. In this study,
a ranking method PROMETHEE, which is one of the multi-criteria decision-making
methods in the literature, is used to select the highest priority investment
option among cement factories in four different cities of an investor who
wanted to invest in cement sector. Internal rate of return, benefit cost ratio,
repayment period, average profitability ratio, break-even point, capacity
utilization ratio and skilled employment ratio which are considered as project
evaluation criteria, are determined through a survey study. Situations, where
criteria weights are determined by AHP method and where they are chosen equally
are evaluated. For both situations alternatives have been prioritized by
partial ranking with PROMETHEE I and full ranking with PROMETHEE II. After
these, criteria walking weights analysis, stability interval anlaysis and GAIA
analysis has been used. In doing so, it has been provided assistance to the
decision maker in determining the most suitable project among alternatives
investments.

Project Number

-

References

  • Albadvi., A., Chaharsooghi, S.K., Esfahanipour, A. (2007). Decision Making in Stock Trading: An Application Of PROMETHEE. European Journal of Operational Research, 177: 673-683.
  • Amiri, M., P. (2010). Project Selection For Oil-Fields Development by Using The AHP and Fuzzy TOPSIS Methods. Expert System with Applications, 37 (9): 6218-6224.
  • Amiri, M.P. (2010) Project Selection For Oil-Fields Development By Using The AHP And Fuzzy TOPSIS Methods. Expert Systems with Applications, 37: 6218-6224.
  • Araz, C., Özfırat, P.M., Özkarahan, İ. (2006). An Integrated Multicriteria Decision- Making Methodology for Outsourcing Management. Computers & Operations Research, 12: 545-550.
  • Araz, C., Özkarahan, İ. (2007). Supplier Evaluation and Management System for Strategic Sourcing Based On A New Multicriteria Sorting Procedure. International Journal of Production Economics, 106(2): 585-606.
  • Araz, C., Özkarahan, İ. (2007). Supplier Evaluation and Management System for Strategic Sourcing Based On A New Multicriteria Sorting Procedure. International Journal of Production Economics, 106 (2): 585-606.
  • Barbarasoğlu, G., Yazgaç, T. (1997). An Application Of The Analytic Hierarchy Process to the Supplier Selection Problem. Production and Inventory Management Journal, 16 (2): 4.
  • Behzadian, M., Kazemzadeh, R.B., Albadvi, A., Aghdasi, M. (2010). Promethee: A Comprehensive Literature Review On Methodologies And Applications, European Journal of Operational Research, 200: 198-215.
  • Beltran, A., Gonzales, C., Ferrando, P., Pozo, R. (2010). An ANP-Based Approach For The Selection of Photovoltaic Solar Power Plant Investment Projects. Renewable and Sustainable Energy Reviews, 14 (1): 249-264.
  • Bois, D., Brans, J.P., Cantraine, F., Mareschal, B. (1989). MEDICIS: An Expert System for Computer-Aided Diagnosis Using The PROMETHEE Multicriteria Method, European Journal of Operational Resarch, 39 (3): 284-292.
  • Borgonovo, E., Gatti, S., Peccati, L. (2010). What Drives Value Creation in Investment Projects? An application Of Sensitivity Analysis To Project Finance Transactions, European Journal of Operational Research, 205 (1): 227-236.
  • Borgonovo,E., Peccati, L. (2004) Sensitivity Analysis in Invesment Project Evaluation. International Journal of Production Economics, 90 (1) : 17-25.
  • Brans, J.P., Vincke, P., Mareschal, B. (1986). How to Select and How to Rank Projects: The PROMETHEE Method. European Journal of Operational Resarch, 24 (2): 228-238.
  • Briggs, Kunsch, P.L., Mareschal, B. (1990). Nunclear Waste Management : An Application of The Multicriteria PROMETHEE Methods. European Journal of Operational Resarch, 44 (1):1-10.
  • Chin K.S. , Chiu, S. ve Tummala, V. M. R. (1999). An Evaluation Of Success Factors Using The AHP To Implement ISO 14001-Based EMS. International Journal of Quality and Reliability Management, 16 (4): 341-361.
  • Costa, J.P., Melo, P., Godinho, P., and Dias, L.C. (2003). The AGAP System : A GDSS for Project Analysis and Evaluation. European Journal of Operational Research, 145 (2) : 287-303.
  • Dağdeviren, M., Eren, T. (2001). Tedarikçi Firma Seçiminde Analitik Hiyerarsi Prosesi ve 0-1 Hedef Programlama Yöntemlerinin Kullanılması. Gazi Üniversitesi Mühendislik Mimarlık Fakültesi Dergisi, 16: 2, 41-52.
  • Dağdeviren, M., Eraslan, E. (2008). PROMETHEE Sıralama Yöntemi ile Tedarikçi Seçimi. Gazi Üniversitesi Mühendislik Mimarlık Fakültesi Dergisi, 23 (1): 69-75.Dağdeviren, M., Yılmaz, B. (2011). A Combined Approach For Equipment Selection: F-PROMETHEE Method And Zero–One Goal Programming. Expert System with Applications.
  • Dey, P.K. (2006). Integrated Project Evaluation and Selection Using Multiple-Attribute Decision-Making Technique, International Journal of Production Economics, 103 (1): 90-103.
  • Dimova, L., Sevastianov, P., Sevastianov, D. (2006). MCDM in Fuzzy Setting: Investment Projects Assetment Application. International Journal of Production Economics, 100 (1) : 10-29.
  • Eraslan, E., Algün, O. (2005). İdeal Performans Değerlendirme Formu Tasarımında Analitik Hiyerarşi Yöntemi Yaklaşımı. Gazi Üniversitesi Mühendislik Mimarlık Fakültesi Dergisi, 20: 1, 95-106.
  • Güvemli, O. (2001). Yatırım Projelerinin Düzenlenmesi, Değerlendirilmesi ve İzlenmesi (ss. 317-319).Atlas Yayın Dağıtım Ltd. Şti. İstanbul.
  • Halouani, N., Chabchoub, H., Martel, J.M. (2009). PROMETHEE-MD-2T Method For Project Selection. European Journal of Operational Research, 195: 841-849.
  • Hwang, H.S. (2004). Web-Based Multi-Attribute Analysis Model For Engineering Project Evaluation. Computer& Industrial Engineering, 46: 669-678.
  • Imotoa, S., Yabuuchib, Y., Watada, J. (2008). Fuzzy Regression Model of R&D Project Evaluation, Applied Soft Computing, 8 (3): 1266-1273.
  • Jung, U., Seo, D., W. (2010). An ANP Approach For R&D Project Evaluation Based On Interdependencies Between Research Objectives and Evaluation Criteria, Decision Support Systems, 49 (3): 335-342.
  • Kahraman, C., Cebeci, U., Ruan, D. (2004). Measuring Customer Satisfaction Of Catering Service Companies Using Fuzzy Ahp: The Case Of Turkey. International Journal of Production Economics, 87: 171-184.
  • Kamal, M., Subhi, H. (2001). Application Of The AHP In Project Management. International Journal of Project Management, 19: 19-27.
  • Khalil, M.A. (2002). Selecting The Appropriate Project Delivery Method Using AHP. International Journal of Project Management, 20: 469-474.
  • Koli, S., Hamid R. P. (1992) Multi-Criteria Analysis in The Evaluation Of Advanced Manufacturing Techonology Using Promethee. Computer& Industrial Engineering, 23 (1-4): 455-458.
  • Kücü, H. (2007). Promethee Sıralama Yöntemi İle Personel Seçimi ve Bir İşletmede Uygulanması. Yüksek Lisans Tezi, Gazi Üniversitesi, Fen Bilimleri Enstitüsü.
  • Liu, P., Zhang, X., Liu, W. (2011). A risk Evaluation Method For The High-Tech Project Investment Based On Uncertain Linguistic Variables. Technological Forecasting and Socaial Change, 78: 40-50.
  • Macharis, C., Springael, J., Brucker, K.D., Verbeke, A. (2004). PROMETHEE and AHP : The Design of Operational Synergies in Multicriteria Analysis : Strengthening PROMETHEE With Ideas Of AHP. European Journal of Operational Resarch, 153 (2) :307- 317.
  • Melon, M.G., Beltran, P.A., Cruz, M.C.G. (2006). An AHP Based Evaluation Procedure For Innovative Educational Projects : A Face To Face vs. Computer-Mediated Case Study. Omega, 36: 754-765.
  • Partovi, F., and Hopton, W. (1994). The Analytic Hierarchy Process As Applied to Two Types of Inventory Problems. Production and Inventory Management Journal, 1: 13-19.
  • Pavic, I., Babic, Z. (1991). The Use of The PROMETHEE Method in The Location Choice Of A Production System. International Journal of Production Economics, 23 (1-3): 165-174.
  • Saaty, L.T. (1994). Highlights And Critical Points In The Theory And Application Of The Analytical Hierarchy Process. European Journal of Operational Research, 74, 426-447.
  • Saaty, T. (2000). The Analytic Hierarchy and Analytic Network Process. MCDM XV-th International Conference, Ankara, Turkey, 1-5.
  • Saaty, T.L. (1990). How To Make A Decision: The Analytic Hierarchy Process. European Journal of Operational Research, 48: 9-26.
  • Sarıaslan, H. (2002). Yatırım Projelerinin Hazırlanması ve Değerlendirilmesi: Planlama-Analiz-Fizibilite (ss. 210-220). Turhan Kitabevi, Ankara.
  • Satty, T.L., (1994). Fundamentals of Decision Making and Priority Theory With The Analytic Hierarchy Process. RWS Publications, Pitssburgh.
  • Shin, C.,O., Yoo, S., H., Kwak, S., J. (2007). Applying The Analytic Hierarchy Process To Evaluation Of The National Nuclear R&D Projects: The Case Of Korea. Progress In Nuclear Energy, 49 (5): 375-384.
  • Stokdyk, S.B., Remer, D.S. and Driel., M.V .(1993). Survey of Project Evaluation Techniques Currently Used in Industry. International Journal of Production Economics, 32 (1) : 103-115.
  • Vidal, L., A., Marle, F., Bocquet, J., C. (2011). Using a Delphi Process and The Analytic Hierarchy Process (AHP) to Evaluate The Complexity of Projects, Expert Systems with Applications, 38 (5): 5388-5405.
  • Vidal, L.A., Marle, F., Bocquet, J.C. (2010). Using A Delphi Process And The Analytic Hierarchy Process (AHP) To Evaluate The Complexity Of Projects. Expert Systems with Applications, 38: 5388-5405.
  • Woodward, D.G. (1995) Use of Sensitivity Analysis in Build-Own-Operate-Transfer Project Evaluation. International Journal of Project Management, 13 (4) : 239-246.Xiang,W., Yi, B. (2010). An Extension Of The Promethee Method Based On Generalized Fuzzy Numbers, Expert System with Applications, 37: 5314-5319.
  • Yurdakul, M., İç, Y.T. (2004). AHP Approach In The Credit Evaluation Of The Manufacturing Firms In Turkey. International Journal of Production Economics, 88: 269-289.
  • Zhang, W., G., Meia. Q., Lua, Q., Xiao, W., L. (2011). Evaluating Methods of Investment Project and Optimizing Models of Portfolio Selection in Fuzzy Uncertainty. Computers & Industrial Engineering
There are 48 citations in total.

Details

Primary Language Turkish
Subjects Mechanical Engineering
Journal Section Research Article
Authors

F. Yeşim Kalender 0000-0001-8862-013X

Fulya Aygün This is me 0000-0001-6029-0562

Project Number -
Publication Date December 25, 2019
Submission Date July 23, 2019
Acceptance Date December 16, 2019
Published in Issue Year 2019 Volume: 9 Issue: 2

Cite

APA Kalender, F. Y., & Aygün, F. (2019). Promethee Sıralama Yöntemi İle Yatırım Projesi Değerlendirme ve Üretim Sektöründe Uygulanması. Batman Üniversitesi Yaşam Bilimleri Dergisi, 9(2), 183-208.