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Dynamic Portfolio Selection in Gas Transmission Projects Considering Sustainable Strategic Alignment and Project Interdependencies through Value Analysis

Author

Listed:
  • Fahime Lotfian Delouyi

    (Department of Industrial Engineering and Management Systems, Amirkabir University of Technology, 350 Hafez Ave, Tehran 15916-34311, Iran)

  • Seyed Hassan Ghodsypour

    (Department of Industrial Engineering and Management Systems, Amirkabir University of Technology, 350 Hafez Ave, Tehran 15916-34311, Iran)

  • Maryam Ashrafi

    (Department of Industrial Engineering and Management Systems, Amirkabir University of Technology, 350 Hafez Ave, Tehran 15916-34311, Iran)

Abstract

Selecting a sustainable cross-country natural gas pipeline project portfolio plays a vital role in enhancing energy security and national self-reliance. The interdependencies between projects augment the complexity of project portfolio selection. Hence, the selection must be done with sustainable strategic alignment and adjustment of ongoing projects to determine the most suitable project portfolio. This is while they have barely been addressed simultaneously in the literature. The aim of the present study is to fill in the mentioned gap by establishing an integrated framework incorporating the organization strategies, project interdependencies, and ongoing projects in the project portfolio selection problem. This presented framework uses network mapping to visualize project interdependencies and improve the quality of the resulting decision. The decision-aid approach of Measuring Attractiveness by a Categorical Based Evaluation Technique (MACBETH) was employed to tackle multi-criteria value measurement in project portfolio selection. Applicability and validity of the proposed framework were tested using the case study of the Iranian Gas Engineering and Development Company (IGEDC). The pipeline project portfolios were analyzed on the basis of experts’ opinions with regard to technical and sustainability strategic criteria (economic, environmental, and social pillars).

Suggested Citation

  • Fahime Lotfian Delouyi & Seyed Hassan Ghodsypour & Maryam Ashrafi, 2021. "Dynamic Portfolio Selection in Gas Transmission Projects Considering Sustainable Strategic Alignment and Project Interdependencies through Value Analysis," Sustainability, MDPI, vol. 13(10), pages 1-25, May.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:10:p:5584-:d:556119
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    References listed on IDEAS

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    Cited by:

    1. Fahime Lotfian Delouyi & Meisam Ranjbari & Zahra Shams Esfandabadi, 2023. "A Hybrid Multi-Criteria Decision Analysis to Explore Barriers to the Circular Economy Implementation in the Food Supply Chain," Sustainability, MDPI, vol. 15(12), pages 1-23, June.
    2. Bálint Blaskovics & Zalán Márk Maró & Gábor Klimkó & Viktória Papp-Horváth & Ágnes Csiszárik-Kocsir, 2023. "Differences between Public-Sector and Private-Sector Project Management Practices in Hungary from a Competency Point of View," Sustainability, MDPI, vol. 15(14), pages 1-24, July.
    3. Casado, Ramon Swell Gomes Rodrigues & Alencar, Marcelo Hazin & de Almeida, Adiel Teixeira, 2022. "Combining a multidimensional risk evaluation with an implicit enumeration algorithm to tackle the portfolio selection problem of a natural gas pipeline," Reliability Engineering and System Safety, Elsevier, vol. 221(C).
    4. Hongbo Li & Rui Chen & Xianchao Zhang, 2022. "Uncertain Public R&D Project Portfolio Selection Considering Sectoral Balancing and Project Failure," Sustainability, MDPI, vol. 14(23), pages 1-13, November.

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