Selecting the portfolio of construction projects with a life cycle approach using DEMATEL and TOPSIS Fuzzy techniques (Sarchesmeh Mehrkariman Company)

Subject Areas : Industrial Management

mohammad  forozandeh ¹ (Department of Industrial Engineering, Faculty of Management and Industrial Engineering, Malek Ashtar University of Technology, Tehran, Iran)
mohsen  roozbahani ² (Master of Industrial Engineering, Faculty of Management and Industrial Engineering, Malek Ashtar University of Technology, Tehran, Iran)

Received: 2021-09-08 Accepted : 2022-12-20 Published : 2023-02-20

Keywords: fuzzy DEM, Fuzzy TOPSIS, Multi-Criteria Decision Making, Project Portfolio Management, Construction Projects,

Abstract :

The multitude of projects and the complexity of making decisions about them, as well as planning and allocating the organization's limited resources to the selected projects, are the main challenges that many project-oriented organizations face. Considering all organizational aspects in obtaining projects is the most key point in the success of project-oriented organizations. For this reason, choosing a portfolio of projects in a way that can meet the goals and strategy of the organization, in addition to considering the organizational limitations, is very vital. For this reason, in this research, while emphasizing the implementation of the portfolio management process in organizations, a two-stage model is presented for evaluating and prioritizing projects to form an optimal portfolio. By examining the life cycle of projects, first, 12 influential indicators in the evaluation of projects are extracted with the help of previous research, and after the confirmation of 8 important indicators by experts, they are analyzed with the help of fuzzyDematel technique, and the weight of each indicator is determined. In the next step, the proposed projects are evaluated and prioritized using the fuzzy TOPSIS technique. Finally, taking into account the capabilities, assets and limitations of the organization, the optimal portfolio of projects is formed and approved by the decision makers. By implementing the above model in a construction company active in public and private projects, it was found that the analysis of relationships between indicators helps a lot to choose the optimal portfolio and prepares the ground for achieving the set goals.

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