EFFICIENCY OF DECISION-MAKING METHODS IN PROJECT MANAGEMENT

Project on Efficiency of Decision Making in Economic Systems

The place of AHP method among Multi Criteria Decision Making methods in forest management

As the name implies, Multi Criteria Decision Making Methods (MCDMs) is a decision making tool that capable the selection of the most preferred choice in a context where several criteria apply simultaneously.  Primary purpose of this study is to examine the status of Multi Criteria Decision Making Methods (MCDMs) in forest management. The study also aims to evaluate the strengths and weaknesses ...

Risk management in urban tunnels using methods of game theory and multi-criteria decision-making

In general, underground spaces are associated with high risks because of their high uncertainty in geotechnical environments. Since most accidents and incidents in these structures are often associated with uncertainty, the development of risk analysis and management methods and prevention of accidents are essential. A deeper recognition of the factors affecting the implementation process can p...

Decision making in forest management with consideration of stochastic prices

  The optimal harvesting policy is calculated as a function of the entering stock, the price state, the harvesting cost, and the rate of interest in the capital market. In order to determine the optimal harvest schedule, the growth function and stumpage price process are estimated for the Swedish mixed species forests. The stumpage price is assumed to follow a stochastic Markov process. A stoch...

A fuzzy group decision making approach to construction project risk management

Implementation of the risk management concepts into construction practice may enhance the performance of project by taking appropriate response actions against identified risks. This research proposes a multi-criteria group decision making approach for the evaluation of different alternative response scenarios. To take into account the uncertainties inherent in evaluation process, fuzzy logic i...