Multicriteria Programming Approach to Development Project Design with an Output Goal and a Sustainability Goal

Enrique Ballestero ()
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Enrique Ballestero: Escuela Politécnica Superior de Alcoy

A chapter in New Developments in Multiple Objective and Goal Programming, 2010, pp 71-79 from Springer

Abstract: Abstract Especially intended for managers faced with development project design, this paper proposes a multicriteria decision making (MCDM) model with two objectives, output maximization and sustainability to be attained as much as possible. This proposal is motivated because: (a) aggressive managers seek to optimize the project output by using deterministic methods such as capital budgeting techniques and mathematical programming models; (b) conservative managers seek sustainability by using replicas of running development projects, which have proven reliable in practice; (c) few managers use stochastic models to ensure sustainability as these models require unavailable information on random variables and complex feedback. Then, this proposal is to articulate the aggressive output standpoint and the conservative replica standpoint into a two-objective programming model looking for a compromise solution between both goals. A numerical example on farm project design is developed in detail and discussed.

Keywords: Project Manager; Development Project; Compromise Solution; Multiobjective Programming; Mathematical Programming Model (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:spr:lnechp:978-3-642-10354-4_5

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DOI: 10.1007/978-3-642-10354-4_5

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