Project risk management using multiple criteria decision-making technique and decision tree analysis:a case study of Indian oil refinery

This study proposes an integrated analytical framework for effective management of project risks using combined multiple criteria decision-making technique and decision tree analysis. First, a conceptual risk management model was developed through thorough literature review. The model was then applied through action research on a petroleum oil refinery construction project in the Central part of India in order to demonstrate its effectiveness. Oil refinery construction projects are risky because of technical complexity, resource unavailability, involvement of many stakeholders and strict environmental requirements. Although project risk management has been researched extensively, practical and easily adoptable framework is missing. In the proposed framework, risks are identified using cause and effect diagram, analysed using the analytic hierarchy process and responses are developed using the risk map. Additionally, decision tree analysis allows modelling various options for risk response development and optimises selection of risk mitigating strategy. The proposed risk management framework could be easily adopted and applied in any project and integrated with other project management knowledge areas.

Understanding manufacturing companies' environmental decision making structures

This paper provides an understanding of the current environmental decision structures within companies in the manufacturing sector. Through case study research, we explored the complexity, robustness and decision making processes companies were using in order to cope with ever increasing environmental pressures and choice of environmental technologies. Our research included organisations in UK, Thailand, and Germany. Our research strategy was case study composed of different research methods, namely: focus group, interviews and environmental report analysis. The research methods and their data collection instruments also varied according to the access we had. Our unity of analysis was decision making teams and the scope of our investigation included product development, environment & safety, manufacturing, and supply chain management. This study finds that environmental decision making have been gaining importance over the time as well as complexity when it is starting to move from manufacturing to non,manufacturing activities. Most companies do not have a formal structure to take environmental decisions; hence, they follow a similar path of other corporate decisions, being affected by organizational structures besides the technical competence of the teams. We believe our results will help improving structures in both beginners and leaders teams for environmental decision making across the different departments.

Fuzzy assessment of performance of a decision making units using DEA:a non-radical approach

Data Envelopment Analysis (DEA) is recognized as a modern approach to the assessment of performance of a set of homogeneous Decision Making Units (DMUs) that use similar sources to produce similar outputs. While DEA commonly is used with precise data, recently several approaches are introduced for evaluating DMUs with uncertain data. In the existing approaches many information on uncertainties are lost. For example in the defuzzification, the a-level and fuzzy ranking approaches are not considered. In the tolerance approach the inequality or equality signs are fuzzified but the fuzzy coefficients (inputs and outputs) are not treated directly. The purpose of this paper is to develop a new model to evaluate DMUs under uncertainty using Fuzzy DEA and to include a-level to the model under fuzzy environment. An example is given to illustrate this method in details.

A critique of a model for an academic staff activity database developed to aid a department in strategic and operational decision making

This paper discusses the use of a Model developed by Aston Business School to record the work load of its academic staff. By developing a database to register annual activity in all areas of teaching, administration and research the School has created a flexible tool which can be used for facilitating both day-to-day managerial and longer term strategic decisions. This paper gives a brief outline of the Model and discusses the factors which were taken into account when setting it up. Particular attention is paid to the uses made of the Model and the problems encountered in developing it. The paper concludes with an appraisal of the Model’s impact and of additional developments which are currently being considered. Aston Business School has had a Load Model in some form for many years. The Model has, however, been refined over the past five years, so that it has developed into a form which can be used for a far greater number of purposes within the School. The Model is coordinated by a small group of academic and administrative staff, chaired by the Head of the School. This group is responsible for the annual cycle of collecting and inputting data, validating returns, carrying out analyses of the raw data, and presenting the mater ial to different sections of the School. The authors of this paper are members of this steer ing group.

The influence of context on the strategic decision-making process:a review of the literature

This paper critically reviews the strategic decision-making process literature, with a specific focus on the effects of context. Context refers to the top management team, strategic decision-specific characteristics, the external environment and firm characteristics. This literature review also develops an illustrative framework that incorporates these four different categories of contextual variables that influence the strategic decision-making process. As a result of the variety and pervasiveness of contextual variables featured within the literature, a comprehensive and up-to-date review is essential for organizing and synthesizing the extant literature to explicate an agenda for future research. The purpose of this literature review is threefold: first, to critically review the strategic decision-making process literature to highlight the underlying themes, issues, tensions and debates in the field; second, to identify the opportunities for future theory development; and third, to state the methodological implications arising from this review. © 2013 British Academy of Management and John Wiley & Sons Ltd.