Performance Measurement of Project Management by Using Fanp Balanced Scorecard (original) (raw)
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Expert Systems with Applications, 2010
Balanced Scorecard (BSC), which is used as a strategic evaluation tool, is a method of determining business performance using lagging and leading indicators on the basis of vision and strategies. The method suggests that business performance should be evaluated not only by using financial indicators but also simultaneously considering non-financial indicators. It has been revealed in the review of relevant literature that despite the satisfying levels achieved in conceptual and theoretical dimension of Balanced Scorecard, the method has some deficiencies in terms of implementation on a quantitative basis and that there remain some problems to be resolved. Subject of this study covered the measurement and evaluation dimension of BSC. In the scope of the study, BSC approach was integrated with fuzzy ANP technique so as to determine the performance level of a business on the basis of its vision and strategies. Proposed model has shown that performance indicators with different structures included in BSC approach can be consolidated with the help of fuzzy ANP technique.
Quantification of Corporate Performance Using Fuzzy Analytic Network Process
Theory and Practical Applications
Performance Measurement (PM) is a combination of a company’s characteristics that can be numerically expressed. The aim of the PM is to provide feedback about the success of current activities and give insight about future performance. Performance of a company depends on its vision and goals so the definition of performance can vary with time. While PM literature provides various models for PM, the most accepted model is Balanced ScoreCard (BSC). BSC supplies four inter-related perspectives that the companies can identify as indicators for performance. These perspectives are: financial, internal business processes, customer, and learning and growth perspectives. In this study, PM is formulated as a Multi Attribute Decision Making (MADM) problem and a Fuzzy Analytical Network Process (FANP) based performance measurement model is proposed. The performance measurement criteria are built based on four perspectives of BSC. The proposed model utilizes FANP in order to determine the relati...
Selecting Best Projects based on Fuzzy TOPSIS, Fuzzy ANP and Balanced Scorecard Approaches
Excellence model can help the organization move forward in the right direction by providing solutions in the form of improvement projects. Lack of resources prevents organizations from implementing all improvement's projects simultaneously. Consequently, it seems necessary to make the optimal selection of the improvement projects proposed. According to the studies, unfortunately, there is no appropriate framework for the excellence model to prioritize improvement projects and make the optimal selection according to the organization's policies and strategies. In this research, a hybrid fuzzy multiple criteria decision making is combined with the balanced scorecard for the optimal selection. Research method is of descriptive and applied type, and field method is used to collect data. The total study population is 30 people. The sample size is equal to the population size. The spatial scope of the research, with a period of 2011 to 2013, is limited to Calcimin Co. whose business is in the field of production of mineral products. The data collection instrument is a researcher-made questionnaire or interview. Data analysis is based on an integrated model of research, and Matlab, and SPSS software were used for the calculations. Based on calculations on the stages of the proposed model, the priority improvement projects and the improvement project of "Create a comprehensive marketing information system in the field of commerce" were selected as the optimal improvement project that had the highest priority for implementation. Results show that the proposed model has a systematic fit with the defined procedures and known inputs.
A Fuzzy Approach for Measuring Project Performance Based on Relative Preference Relation
Industrial Engineering & Management Systems, 2017
Earned Duration Management (EDM) is the most recent methodology for project management that unlike former techniques, measures project performance using time-based data, In contrast to former techniques. This difference generates more realistic consequences in performance estimation and measurement. The novel approach which has been proposed in this paper aims to measure project performance by applying EDM techniques under uncertain conditions based on fuzzy theory. In this regard, we applied linguistic terms to express activities' progress and developed EDM metrics to fuzzy performance and estimation indices which are capable of measuring performance under uncertain condition. In order to rank fuzzy numbers, a new method based on relative preference relation has been used, which has been clarified by a real sample case in road construction projects.
A fuzzy-QFD approach to balanced scorecard using an analytic network process
The balanced scorecard (BSC) is a strategic management method that links performance measurement to vision and strategies using a multidimensional set of financial and non-financial performance metrics. Although several studies have combined the BSC method with multi-criteria decision analysis methodologies, most of the research efforts do not consider the essentials of strategic and performance management in a systematic and holistic framework capable of handling imprecision and vagueness. The purpose of this study is to present a novel approach for structuring and prioritising the performance measures in the BSC method. The contribution of the proposed approach is fivefold: 1) we use the quality function deployment (QFD) technique to create a linkage between the BSC perspectives; 2) we use the analytic network process (ANP) technique to consider the interactions between the performance measures in each BSC perspective; 3) we integrate the QFD and the ANP techniques to help decision makers understand the relations between the performance measures in different perspectives and the correlations among the performance measures in the same perspective; 4) we handle the vagueness and ambiguity in decision makers’ judgements with the fuzzy set theory; 5) we present a case study to demonstrate the applicability of the proposed approach and exhibit the efficacy of the procedures.
Using fuzzy decision making for the evaluation of the project management internal efficiency
Decision Support Systems, 2006
Specific applications of fuzzy logic in project management are relatively few in comparison to other application areas. The criteria of project cost, project time, and project quality may be considered as project management internal measures of efficiency. The objective of this research is to present an approach that employs fuzzy decision making (FDM) to combine these three measures into one measure namely the project management internal efficiency (PMIE) which should represent an overall estimate of how well the project was managed and executed. The proposed approach for the evaluation of PMIE is illustrated on a case study. A fuzzy decision making system is designed and implemented using the MATLAB software for the evaluation of the PMIE. The methodology and procedure proposed in this research may be easily implemented by project management organizations. The evaluation of PMIE can serve for project managers and for project organizations as an indicator for the level of achievement of the project management internal objectives. PMIE may help in the evaluation of the performance of project teams.
Jordan Journal of Civil Engineering, 2016
Every project confronts risk both in financial and technical dimensions. This induces a greater response on the performance of the project. A successful construction project depends on how the project participants compute the actual project performance. A commendable assessment of project performance practice determines the project productivity both quantitatively and qualitatively. Methods of project performance measurement vary among industries. As a contribution to the above, this study equips the project manager with a proficient mode of project performance measurement and the essential promising decisions that head to profit maximization. This intricate study thus facilitates the project manager to compute the project performance on the basis of the effects of Earned Value Management (EVM) indices which are broadly classified as: variance indices, performance indices and miscellaneous or forecast indices. Adopting the Analytical Network Process (ANP) structure model in Super Decision software is a reliable decision making tool. This study indicates that the cost variance (CV) index is prominent among the EVM indices that highly affect the project characteristics, the measurement of which facilitates the required control measures on respective project activities. It also indicates that cost is the major project characteristic, the variation of which immensely affects the project performance. It procures an objective reference for engineering projects by following the selection process of best EVM indices that holds an accurate measure of project performance.
This article intends to answer the question as how through combination of BSC and Fuzzy Analytic Network Process (ANP) organization's relative performance can be assessed based on its outlook and strategies, so as both the interaction between criteria and indicators and the balance between them are taken account of. This is an applied and descriptive research conducted through a case study and the under study in one of the medical universities in north of Iran. Through consensus and profiting from a questionnaire the data were gathered. Questionnaire validity and stability was confirmed following approval of the organization's experts. In this article, through presentation of new Fuzzy model, it has been tried to assess current strategies of the organization and the key factors associated to these strategies. Statistical population in this research includes knowledgeable and experienced managers and experts in the understudy organization. In this article, through combination of two performance measurement models, (BSC and ANP), while profiting from a Fuzzy Approach the indicators for measurement of organization performance are identified and by combination of the two models, a comprehensive model is proposed for measurement of the organization's overall performance. In the research findings, the key constituents and the indicators associated to each constituent were pointed out based on which priority and weight of each in regard to organization's current state of performance can be determined. These weights and indicators can give a useful insight to the university managers regarding the organization performance and importance of its different aspects at organizational level. The score of 61% (out of 100) was found for the organization current performance which can serve as a good base for improvement of the organization future performance.
Fuzzy Analytical Hierarchy Process Method to Determine the Project Performance in the portfolio.
IRJET, 2022
When reaching a decision most preferable way is to go through the analytical way instead of taking decisions without considering all the factors. Analyzing the project performance in the portfolio requires a special ability, full knowledge and as well as years of experience working in the industry. However, many times measuring a verbal expression can be taken into account for better decision making and it can offer precise interpretation in Infront of an observer. therefore, while making the decisions, need of a proper analyze of every factor’s impact is essential.
2015 International Conference on Industrial Engineering and Operations Management (IEOM), 2015
Forecasting the progress or regression of a project can definitely change the project's direction and lead to implement a strategy with lower risks. In this paper a new technique is developed first in order to model the problem using Analytical Hierarchy Process as a Multi Criteria Decision Making and then to apply fuzzy theory in project management's main factors such as: time, quality and cost by defining the triangular fuzzy membership function for each one in the MATLAB fuzzy toolbox based on if-then rules extracted from the experts' experiences. This methodology can be used by project managers to reduce the risks of uncertainty when deciding for investments, resource allocation and other levels from planning to executing as well as easily determining the percent of performance. The contribution of this study lies in presenting a fuzzy mathematical programming methodology to fuzzy multi-objective PM decisions, and provides a systematic decision-making framework that facilitates the decision maker to interactively adjust the search direction until the preferred efficient solution is obtained.