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Project Ranking in the Armenian Energy Sector Using a Multicriteria Method for Groups

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  • Yorgos Goletsis
  • John Psarras
  • Jesus-Emmanuel Samouilidis

Abstract

Project ranking is a complex problem that is often faced by the decision makers involved in the planning process. The necessity to take into account several decision parameters apart from purely economic ones, such as socio-political, technical, institutional and environmental, lead to the use of multicriteria methods instead of single uni-criterion ones. Moreover, most of the times such decisions are taken in a group environment. A hybrid of ELECTRE III and PROMETHEE methods, MURAME, has been specially developed and constitutes the main part of an integrated project ranking methodology for groups. The experience of the application of the methodology in the Armenian energy sector is presented. Copyright Kluwer Academic Publishers 2003

Suggested Citation

  • Yorgos Goletsis & John Psarras & Jesus-Emmanuel Samouilidis, 2003. "Project Ranking in the Armenian Energy Sector Using a Multicriteria Method for Groups," Annals of Operations Research, Springer, vol. 120(1), pages 135-157, April.
    • Handle: RePEc:spr:annopr:v:120:y:2003:i:1:p:135-157:10.1023/a:1023330530111
    DOI: 10.1023/A:1023330530111
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    1. Tavana, Madjid & Behzadian, Majid & Pirdashti, Mohsen & Pirdashti, Hasan, 2013. "A PROMETHEE-GDSS for oil and gas pipeline planning in the Caspian Sea basin," Energy Economics, Elsevier, vol. 36(C), pages 716-728.
    2. Höfer, Tim & von Nitzsch, Rüdiger & Madlener, Reinhard, 2019. "Using Value-Focused Thinking and Multi-Criteria Group Decision-Making to Evaluate Energy Transition Alternatives," FCN Working Papers 4/2019, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    3. Tim H¨ofer & Rüdiger von Nitzsch & Reinhard Madlener, 2020. "Using Value-Focused Thinking and Multicriteria Decision Making to Evaluate Energy Transition Alternatives," Decision Analysis, INFORMS, vol. 17(4), pages 330-355, December.
    4. Abbas Roozbahani & Banafsheh Zahraie & Massoud Tabesh, 2012. "PROMETHEE with Precedence Order in the Criteria (PPOC) as a New Group Decision Making Aid: An Application in Urban Water Supply Management," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 26(12), pages 3581-3599, September.
    5. Arayeh Afsordegan & Luis Del Vasto-Terrientes & Aida Valls & Núria Agell & Mónica Sánchez, 2022. "Finding the most sustainable wind farm sites with a hierarchical outranking decision aiding method," Annals of Operations Research, Springer, vol. 312(2), pages 1307-1335, May.
    6. Kahraman, Cengiz & Kaya, İhsan & Cebi, Selcuk, 2009. "A comparative analysis for multiattribute selection among renewable energy alternatives using fuzzy axiomatic design and fuzzy analytic hierarchy process," Energy, Elsevier, vol. 34(10), pages 1603-1616.
    7. Büyüközkan, Gülçin & Güleryüz, Sezin, 2017. "Evaluation of Renewable Energy Resources in Turkey using an integrated MCDM approach with linguistic interval fuzzy preference relations," Energy, Elsevier, vol. 123(C), pages 149-163.
    8. Marco Corazza & Stefania Funari & Federico Siviero, 2008. "An MCDA-based Approach for Creditworthiness Assessment," Working Papers 177, Department of Applied Mathematics, Università Ca' Foscari Venezia.
    9. Wenhui Zhao & Nicholas G. Hall & Zhixin Liu, 2020. "Project Evaluation and Selection with Task Failures," Production and Operations Management, Production and Operations Management Society, vol. 29(2), pages 428-446, February.
    10. Büyüközkan, Gülçin & Güleryüz, Sezin, 2016. "An integrated DEMATEL-ANP approach for renewable energy resources selection in Turkey," International Journal of Production Economics, Elsevier, vol. 182(C), pages 435-448.
    11. Cavallaro, Fausto, 2010. "A comparative assessment of thin-film photovoltaic production processes using the ELECTRE III method," Energy Policy, Elsevier, vol. 38(1), pages 463-474, January.
    12. Behzadian, Majid & Kazemzadeh, R.B. & Albadvi, A. & Aghdasi, M., 2010. "PROMETHEE: A comprehensive literature review on methodologies and applications," European Journal of Operational Research, Elsevier, vol. 200(1), pages 198-215, January.
    13. Corazza, Marco & Funari, Stefania & Gusso, Riccardo, 2016. "Creditworthiness evaluation of Italian SMEs at the beginning of the 2007–2008 crisis: An MCDA approach," The North American Journal of Economics and Finance, Elsevier, vol. 38(C), pages 1-26.
    14. Marco Corazza & Giovanni Fasano & Stefania Funari & Riccardo Gusso, 2021. "MURAME parameter setting for creditworthiness evaluation: data-driven optimization," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 44(1), pages 295-339, June.
    15. Emilios Galariotis & Christophe Germain & Constantin Zopounidis, 2018. "A combined methodology for the concurrent evaluation of the business, financial and sports performance of football clubs: the case of France," Annals of Operations Research, Springer, vol. 266(1), pages 589-612, July.
    16. Upadhyay, Subho & Sharma, M.P., 2014. "A review on configurations, control and sizing methodologies of hybrid energy systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 38(C), pages 47-63.
    17. Puneet Agarwal & Kyle Hunt & Jun Zhuang & Bijan Sarkar & Amitrajit Sarkar & Ramesh Sharma, 2021. "An exploratory analysis for performance assessment of state police forces in india: an eclectic approach," Operational Research, Springer, vol. 21(2), pages 1125-1151, June.
    18. Valentin Bertsch & Wolf Fichtner, 2016. "A participatory multi-criteria approach for power generation and transmission planning," Annals of Operations Research, Springer, vol. 245(1), pages 177-207, October.
    19. Marco Corazza & Giovanni Fasano & Stefania Funari & Riccardo Gusso, 2017. "PSO-based tuning of MURAME parameters for creditworthiness evaluation of Italian SMEs," Working Papers 04, Department of Management, Università Ca' Foscari Venezia.

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