Strategic Planning Based on Sustainability for Urban Transportation: An Application to Decision-Making

Hamurcu, Mustafa/0000-0002-6166-3946; Eren, Tamer/0000-0001-5282-3138WOS:000537476200088Public transportation is one of the main goals of a developing city. This topic includes not only administrators, but also city residents and the environment, with economic, environmental, and social factors. This paper presents a multicriteria decision-making process for prioritizing alternative public transportation projects in Krkkale, considering the urban type of a developing city. It outlines three planned projects for improvement: "electric municipality bus", "light rail system", and the "modernization of existing vehicles and network optimization". In this study, we use the analytic hierarchy process and fuzzy technique for order preference by similarity to ideal situation (TOPSIS) application to prioritize transportation projects using economic, social, transportation, and environmental sub-criteria. The aim of this study is to select the most suitable project, based on sustainability, for more urban livability in Krkkale city. In the strategic decision-making process, the weights of each sustainability criteria have been determined using analytic hierarchy process (AHP). The fuzzy TOPSIS method has been applied for ranking the proposed alternative projects for Krkkale. Finally, the analytic decision process results are compared, and the electric municipality bus is selected as the best project alternative. The results of this study can not only offer a solution for current needs related to urban planning, but also ensure as a more transparent decision-making process for developing sustainability in developing cities in the near future

Model for investment decision making by applying the multi-criteria analysis method

When making an investment decision the investor has got many alternative investment options available. The task of the investor is to choose one investment that will best accomplish the objectives of the investment project. In order for an investment to be possible, it is common practice to create a document that plans and especially outlines the form of the investment project. In order to choose an investment that best meets the goals of the project, it is necessary to evaluate the project. There are evaluation methods available for the investor to assess the effectiveness of an investment project. The results given by these methods are usually conflicting, thus causing difficulties for the investor’s decision-making abilities. This paper presents a model for improving the decision process in investment. The purpose of this model is to indicate the need for using methods such as the multi-criteria analysis method in order to evaluate the effectiveness of an investment. Due to the fact that the results of the evaluation methods are often different, it is necessary to take into account that there are a number of criteria that need to be acknowledged, in order to make the best investment decision. Multi-criteria analysis can be used to rank potential investment projects and enhances the decision-making process that is required to meet the goals of an investment

Assessment of Energy Systems Using Extended Fuzzy AHP, Fuzzy VIKOR, and TOPSIS Approaches to Manage Non-Cooperative Opinions

Energy systems planning commonly involves the study of supply and demand of power, forecasting the trends of parameters established on economics and technical criteria of models. Numerous measures are needed for the fulfillment of energy system assessment and the investment plans. The higher energy prices which call for diversification of energy systems and managing the resolution of conflicts are the results of high energy demand for growing economies. Due to some challenging problems of fossil fuels, energy production and distribution from alternative sources are getting more attention. This study aimed to reveal the most proper energy systems in Saudi Arabia for investment. Hence, integrated fuzzy AHP (Analytic Hierarchy Process), fuzzy VIKOR (Vlse Kriterijumska Optimizacija Kompromisno Resenje) and TOPSIS (Technique for Order Preferences by Similarity to Idle Solution) methodologies were employed to determine the most eligible energy systems for investment. Eight alternative energy systems were assessed against nine criteria—power generation capacity, efficiency, storability, safety, air pollution, being depletable, net present value, enhanced local economic development, and government support. Data were collected using the Delphi method, a team of three decision-makers (DMs) was established in a heterogeneous manner with the addition of nine domain experts to carry out the analysis. The fuzzy AHP approach was used for clarifying the weight of criteria and fuzzy VIKOR and TOPSIS were utilized for ordering the alternative energy systems according to their investment priority. On the other hand, sensitivity analysis was carried out to determine the priority of investment for energy systems and comparison of them using the weight of group utility and fuzzy DEA (Data Envelopment Analysis) approaches. The results and findings suggested that solar photovoltaic (PV) is the paramount renewable energy system for investment, according to both fuzzy VIKOR and fuzzy TOPSIS approaches. In this context our findings were compared with other works comprehensively.This research was funded by the Deanship of Scientific Research (DSR) at King Abdulaziz University, Jeddah, under grant no. (RG-7-135-38). The authors, therefore, acknowledge with thanks DSR technical and financial support

Uncertain Multi-Criteria Optimization Problems

Most real-world search and optimization problems naturally involve multiple criteria as objectives. Generally, symmetry, asymmetry, and anti-symmetry are basic characteristics of binary relationships used when modeling optimization problems. Moreover, the notion of symmetry has appeared in many articles about uncertainty theories that are employed in multi-criteria problems. Different solutions may produce trade-offs (conflicting scenarios) among different objectives. A better solution with respect to one objective may compromise other objectives. There are various factors that need to be considered to address the problems in multidisciplinary research, which is critical for the overall sustainability of human development and activity. In this regard, in recent decades, decision-making theory has been the subject of intense research activities due to its wide applications in different areas. The decision-making theory approach has become an important means to provide real-time solutions to uncertainty problems. Theories such as probability theory, fuzzy set theory, type-2 fuzzy set theory, rough set, and uncertainty theory, available in the existing literature, deal with such uncertainties. Nevertheless, the uncertain multi-criteria characteristics in such problems have not yet been explored in depth, and there is much left to be achieved in this direction. Hence, different mathematical models of real-life multi-criteria optimization problems can be developed in various uncertain frameworks with special emphasis on optimization problems

Fuzzy multicriteria decision-making in railway infrastructure planning and design

U radu je prikazan pristup neizrazitog višekriterijskog odlučivanja u procesu planiranja i projektiranja željezničke infrastrukture koji omogućava cjelovito i sustavno rješavanje problema postojanja faktora neizvjesnosti i neodređenosti prilikom procjene vrijednosti kriterijskih funkcija. Predloženi pristup višekriterijskog odlučivanja je predstavljen u okviru metodologije za izbor najpovoljnije trase dvokolosiječne željezničke pruge. Za vrednovanje varijantnih rješenja trase u radu su upotrebljeni trouglasti neizraziti brojevi, a za rangiranje je primijenjena neizrazita VIKOR metoda.A fuzzy multicriteria approach in the railway infrastructure planning and design, enabling an integrated and systematic solving of uncertainty and indeterminacy problems in the evaluation of criteria functions, is presented in paper. The proposed multicriteria decision making approach is presented in the scope of the methodology for selecting the most favourable route of a double track railway. Triangular fuzzy numbers are used to evaluate variant solutions, while the VIKOR fuzzy method is used for route ranking

Multi-Objective and Multi-Attribute Optimisation for Sustainable Development Decision Aiding

Optimization is considered as a decision-making process for getting the most out of available resources for the best attainable results. Many real-world problems are multi-objective or multi-attribute problems that naturally involve several competing objectives that need to be optimized simultaneously, while respecting some constraints or involving selection among feasible discrete alternatives. In this Reprint of the Special Issue, 19 research papers co-authored by 88 researchers from 14 different countries explore aspects of multi-objective or multi-attribute modeling and optimization in crisp or uncertain environments by suggesting multiple-attribute decision-making (MADM) and multi-objective decision-making (MODM) approaches. The papers elaborate upon the approaches of state-of-the-art case studies in selected areas of applications related to sustainable development decision aiding in engineering and management, including construction, transportation, infrastructure development, production, and organization management

Criteria Used in Research & Development Project Selection

Devido à corrida em busca de inovação, organizações do Brasil e do mundo todo enfrentam desafios constantes para se manterem relevantes no mercado, buscando as melhores formas de gerenciar seus projetos e utilizando dos recursos existentes para maximizar os benefícios e, em alguns casos, minimizar o risco ou custos de seus projetos. De acordo com uma revisão sistemática de 61 artigos, escritos entre 1970 a 2018, que utilizam métodos multi-critérios para tomada de decisões (MCDM) para selecionar projetos de Pesquisa & Desenvolvimento (P&D), apenas 19 deles dão uma explicação adequada dos critérios utilizados. Assim, a fim de contribuir com o processo de seleção de projetos, o objetivo principal deste trabalho é mostrar quais os tipos de critérios que apresentam maior relevância sobre os demais. Todo o processo é feito através de uma revisão sistemática da literatura: desde a seleção dos artigos, o agrupamento dos critérios e sua avaliação por dois especialistas utilizando o método Analytic Hierarchy Process (AHP). Ao final, percebe-se o quão importante é o benefício financeiro para os especialistas, e que a inovação não é considerada tão relevante para eles e para a maioria dos autores dos artigos analisados

MULTI–CRITERIA HOME ENERGY MANAGEMENT SYSTEM SELECTION FOR THE SMART GRID SUPPORT

Home energy management systems (HEMS) are increasingly used as a tool that creates optimal consumption and production schedules for Smart Grids, by considering objectives such as energy costs, environmental concerns, load profiles, and consumer comfort. Multiple criteria selection of optimal HEMS seems to be superior to the traditional cost benefit assessment in measuring intangibles and soft impacts, introducing qualitative aspects in the analysis. This paper proposes an algorithm for the selection of optimal HEMS, using the fuzzy AHP method. This methodological framework provides a multi-criteria approach for estimating the benefits and costs of different HEMS within the Smart Grid uncertain environment. This method allows the decision makers to incorporate unquantifiable, asymmetrical, incomplete, non-obtainable information and partially ignorant facts into a decision model. Four criteria and eleven performances for the optimal solution selection are defined. The method is successful in the evaluation of alternatives in the presence of heterogeneous criteria and uncertain environment. The methodology is illustrated on the choice of HEMS from the power distribution company perspective. It is concluded that the evaluation of weighting factors has a decisive character in the choice of the final one of several alternative variants. Fuzzification of input values can also contribute to a more flexible view of the given problem and analysis of sensitivity to various input parameters

Project Finance and MCDM financial models: An application in renewable energy projects

Tesis por compendio[EN] Academics, managerial and policy making community reinforce that renewable energy investments are one of the most effective instruments to attain CO2 emission reduction targets set by the Kyoto Protocol and by the recent Paris Agreement signed at the Paris climate conference (COP21) in December 2015 in which 195 countries adopted the first-ever universal, legally binding global climate deal. The problem of financing Renewable Energy (RE) projects has become a crucial issue for private and public decision makers worldwide. Budget constraints from governments and limited bank lending capacities have led to a reconsideration of the traditional financial instruments in the RE sector. The lack of credit makes impossible for commercial banks to fund RE projects with traditional loans. Research on new financing techniques for RE projects, such as Project Finance (PF) has gained interest in recent years. PF is a recent technique applied in large investments projects. During the last decades of the 20th century new public private partnership schemes enabled large infrastructure, energy and environmental projects. In these sectors PF has been used to reduce cost agency conflicts and better risk management. There is a wide number of contributions underlying the relevance of RE, however there is a lack of research on the financial aspects of RE projects. This research aims to make several contributions. First, to provide a better understanding of the PF technique and its use in the RE sector. Second, to fill the gap of research on financial aspects of RE in the literature by reviewing contributions of MCDM to RE project evaluation from the investor's perspective. Third, we propose a MPDM Moderate Pessimism Decision Making model, which adds to the rational financial evaluation of investment opportunities a set of non-financial factors that affects the investor's decisions. Finally, within the illustrative example, we apply this multi-criteria decision making process to help banks to decide if they must join a project or not.[ES] Investigadores, comunidad empresarial y clase política destacan que la inversión en energías renovables es uno de los instrumentos más efectivos para alcanzar los objetivos de reducción de CO2 establecidos por el reciente acuerdo firmado en la conferencia de Paris (COP21) en diciembre de 2015, en el cual, 195 países adoptaron el primer acuerdo universal y jurídicamente vinculante de la historia. El problema de la financiación de los proyectos de energía renovable (RE) es un tema crucial para cualquier decisor público o privado. Las limitaciones presupuestarias de los gobiernos y la falta de crédito han provocado que se reconsideren los instrumentos de financiación en el sector de las RE, por lo tanto, la investigación en nuevas técnicas de financiamiento para los proyectos de RE, como Project Finance (PF) ha ganado interés en los últimos años. PF es una técnica que se aplica en grandes proyectos de inversión. A finales del Siglo XX, los nuevos esquemas de colaboración público-privadas han permitido llevar a cabo grandes proyectos de infraestructuras y de RE. En estos sectores, el PF se ha utilizado para reducir costes, conflictos y mitigar riesgos. Numerosas contribuciones científicas subrayan la importancia de la RE, sin embargo hay un vacío en la investigación sobre los aspectos financieros de los proyectos de RE. Esta tesis tiene como objetivo aportar varias contribuciones. En primer lugar, proporcionar una mejor comprensión de la técnica del PF y su uso en el sector de las RE. En segundo lugar, cubrir el vacío existente en la literatura sobre la investigación de los aspectos financieros de las RE mediante la revisión de las contribuciones sobre MCDM para la evaluación de los proyectos de RE desde el punto de vista del inversor. En tercer lugar, se propone un modelo MPDM (Moderate Pessimism Decision Making), el cual añade a la evaluación financiera racional de oportunidades de inversión, un conjunto de factores no financieros que afectan a las decisiones de los inversores. Finalmente, se aplica este modelo multicriterio de toma de decisiones para ayudar a decidir a los bancos si deben unirse al proyecto.[CA] Investigadors, comunitat empresarial i classe política, destaquen que la inversió en energies renovables és un dels instruments més efectius per assolir els objectius de reducció de les emissions de CO2 establerts pel recent acord signat a la conferència de Paris (COP21) al desembre de 2015, mitjançant el qual, 195 països van adoptar el primer acord universal i jurídicament vinculant de la història. El problema del finançament dels projectes d'energia renovable (RE) s'ha convertit en un tema crucial per a qualsevol decisor públics i privats. Les limitacions pressupostàries dels governs i La falta de crèdit han provocat que es reconsiderin els instruments de finançament en el sector de les RE, per tant, la investigació en noves tècniques de finançament per als projectes de RE, com el Project Finance (PF) ha guanyat interès en els últims anys. PF és una tècnica que s'aplica en grans projectes d'inversió. Durant les últimes dècades del Segle XX, els nous esquemes de col-laboració publico-privades han permès portar a terme grans projectes d'infraestructures i de RE. En aquests sectors, el PF s'ha utilitzat per reduir costos, conflictes i gestionar millor els riscos. Existeixen nombroses contribucions científiques que subratllen la importància de la RE, però hi ha un buit en la investigació pel que fa als aspectes financers dels projectes de RE. Aquesta tesis té com a objectiu aportar diverses contribucions. En primer lloc, proporcionar una millor comprensió de la tècnica del PF i el seu ús en el sector de les RE. En segon lloc, cobrir el buit existent en la literatura sobre la investigació dels aspectes financers de les RE mitjançant la revisió de les contribucions sobre MCDM per a l'avaluació dels projectes de RE des del punt de vista de l'inversor. En tercer lloc, es proposa un model MPDM Moderate Pessimism Decision Making, que afegeix a l'avaluació financera racional d'oportunitats d'inversió, un conjunt de factors no financers que afecten les decisions dels inversors. Finalment, mitjançant un exemple il-lustratiu, s'aplica aquest model multicriteri de presa de decisions per ajudar a decidir als bancs si han de unir-se al projecte.Mayor Vitoria, F. (2016). Project Finance and MCDM financial models: An application in renewable energy projects [Tesis doctoral no publicada]. Universitat Politècnica de València. https://doi.org/10.4995/Thesis/10251/73067TESISCompendi