Integrating fuzzy-MCDM methods to select project portfolios under uncertainty: the case of a pharmaceutical company

Detalhes bibliográficos
Autor(a) principal: Souza, Guilherme Martins de
Data de Publicação: 2022
Outros Autores: Santos, Erivelton Antonio, Silva, Carlos Eduardo Sanches, Souza, Dalton Garcia Borges de
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Brazilian Journal of Operations & Production Management (Online)
Texto Completo: https://bjopm.org.br/bjopm/article/view/1252
Resumo: Goal: The present work aims to improve the project portfolio selection processes under uncertainty of pharmaceutical companies by integrating two Multicriteria Decision Making (MCDM) methods in a fuzzy environment: the AHP and the VIKOR methods. Design / Methodology / Approach: We employed normative axiomatic modeling as the methodology for our work. The MCDM are subjective methods representing decision-makers preferences and assisting the project portfolio selection process. Thus, the model is founded on integrating the fuzzy-AHP and fuzzy-VIKOR methods; the first one determines the importance of the company's strategy and the second for elaborating the project ranking. We validated this methodology in a Brazilian subsidiary of one of the biggest pharmaceutical enterprises worldwide. Results: The developed model considers the evaluators' scores' indecision, enhancing the project portfolio selection process and optimizing its decision-making. Limitations of the investigation: The proposed method does not verify the correlation, interdependence, or cannibalization between the criteria and the projects, which are common limitations to MCDM subjective approaches. In addition, resource constraints are not considered and scheduling routines. Practical implications: The pharmaceutical market is heated by the increase in life expectancy, greater access to medications, and the most recurrent disease outbreaks, resulting in greater competitiveness, increasing the need for companies to seek greater strategic projects selection efficiency. Originality / Value: A well-structured and assertive project portfolio selection becomes extremely important for the pharmaceutical market to keep the company competitive in the market, which explains the importance of this work.
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spelling Integrating fuzzy-MCDM methods to select project portfolios under uncertainty: the case of a pharmaceutical companyAHPVIKORFuzzyMCDMPharmaceutical IndustryPPSGoal: The present work aims to improve the project portfolio selection processes under uncertainty of pharmaceutical companies by integrating two Multicriteria Decision Making (MCDM) methods in a fuzzy environment: the AHP and the VIKOR methods. Design / Methodology / Approach: We employed normative axiomatic modeling as the methodology for our work. The MCDM are subjective methods representing decision-makers preferences and assisting the project portfolio selection process. Thus, the model is founded on integrating the fuzzy-AHP and fuzzy-VIKOR methods; the first one determines the importance of the company's strategy and the second for elaborating the project ranking. We validated this methodology in a Brazilian subsidiary of one of the biggest pharmaceutical enterprises worldwide. Results: The developed model considers the evaluators' scores' indecision, enhancing the project portfolio selection process and optimizing its decision-making. Limitations of the investigation: The proposed method does not verify the correlation, interdependence, or cannibalization between the criteria and the projects, which are common limitations to MCDM subjective approaches. In addition, resource constraints are not considered and scheduling routines. Practical implications: The pharmaceutical market is heated by the increase in life expectancy, greater access to medications, and the most recurrent disease outbreaks, resulting in greater competitiveness, increasing the need for companies to seek greater strategic projects selection efficiency. Originality / Value: A well-structured and assertive project portfolio selection becomes extremely important for the pharmaceutical market to keep the company competitive in the market, which explains the importance of this work.Brazilian Association for Industrial Engineering and Operations Management (ABEPRO)2022-05-11info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionResearch paperapplication/pdfhttps://bjopm.org.br/bjopm/article/view/125210.14488/BJOPM.2022.008Brazilian Journal of Operations & Production Management; Vol. 19 No. 3 (2022); 1-192237-8960reponame:Brazilian Journal of Operations & Production Management (Online)instname:Associação Brasileira de Engenharia de Produção (ABEPRO)instacron:ABEPROenghttps://bjopm.org.br/bjopm/article/view/1252/1018Copyright (c) 2021 Guilherme Martins de Souza, Erivelton Antonio Santos, Carlos Eduardo Sanches Silva, Dalton Garcia Borges de Souzahttp://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessSouza, Guilherme Martins deSantos, Erivelton AntonioSilva, Carlos Eduardo Sanches Souza, Dalton Garcia Borges de2022-06-13T20:41:20Zoai:ojs.bjopm.org.br:article/1252Revistahttps://bjopm.org.br/bjopmONGhttps://bjopm.org.br/bjopm/oaibjopm.journal@gmail.com2237-89601679-8171opendoar:2023-03-13T09:45:28.588140Brazilian Journal of Operations & Production Management (Online) - Associação Brasileira de Engenharia de Produção (ABEPRO)false
dc.title.none.fl_str_mv Integrating fuzzy-MCDM methods to select project portfolios under uncertainty: the case of a pharmaceutical company
title Integrating fuzzy-MCDM methods to select project portfolios under uncertainty: the case of a pharmaceutical company
spellingShingle Integrating fuzzy-MCDM methods to select project portfolios under uncertainty: the case of a pharmaceutical company
Souza, Guilherme Martins de
AHP
VIKOR
Fuzzy
MCDM
Pharmaceutical Industry
PPS
title_short Integrating fuzzy-MCDM methods to select project portfolios under uncertainty: the case of a pharmaceutical company
title_full Integrating fuzzy-MCDM methods to select project portfolios under uncertainty: the case of a pharmaceutical company
title_fullStr Integrating fuzzy-MCDM methods to select project portfolios under uncertainty: the case of a pharmaceutical company
title_full_unstemmed Integrating fuzzy-MCDM methods to select project portfolios under uncertainty: the case of a pharmaceutical company
title_sort Integrating fuzzy-MCDM methods to select project portfolios under uncertainty: the case of a pharmaceutical company
author Souza, Guilherme Martins de
author_facet Souza, Guilherme Martins de
Santos, Erivelton Antonio
Silva, Carlos Eduardo Sanches
Souza, Dalton Garcia Borges de
author_role author
author2 Santos, Erivelton Antonio
Silva, Carlos Eduardo Sanches
Souza, Dalton Garcia Borges de
author2_role author
author
author
dc.contributor.author.fl_str_mv Souza, Guilherme Martins de
Santos, Erivelton Antonio
Silva, Carlos Eduardo Sanches
Souza, Dalton Garcia Borges de
dc.subject.por.fl_str_mv AHP
VIKOR
Fuzzy
MCDM
Pharmaceutical Industry
PPS
topic AHP
VIKOR
Fuzzy
MCDM
Pharmaceutical Industry
PPS
description Goal: The present work aims to improve the project portfolio selection processes under uncertainty of pharmaceutical companies by integrating two Multicriteria Decision Making (MCDM) methods in a fuzzy environment: the AHP and the VIKOR methods. Design / Methodology / Approach: We employed normative axiomatic modeling as the methodology for our work. The MCDM are subjective methods representing decision-makers preferences and assisting the project portfolio selection process. Thus, the model is founded on integrating the fuzzy-AHP and fuzzy-VIKOR methods; the first one determines the importance of the company's strategy and the second for elaborating the project ranking. We validated this methodology in a Brazilian subsidiary of one of the biggest pharmaceutical enterprises worldwide. Results: The developed model considers the evaluators' scores' indecision, enhancing the project portfolio selection process and optimizing its decision-making. Limitations of the investigation: The proposed method does not verify the correlation, interdependence, or cannibalization between the criteria and the projects, which are common limitations to MCDM subjective approaches. In addition, resource constraints are not considered and scheduling routines. Practical implications: The pharmaceutical market is heated by the increase in life expectancy, greater access to medications, and the most recurrent disease outbreaks, resulting in greater competitiveness, increasing the need for companies to seek greater strategic projects selection efficiency. Originality / Value: A well-structured and assertive project portfolio selection becomes extremely important for the pharmaceutical market to keep the company competitive in the market, which explains the importance of this work.
publishDate 2022
dc.date.none.fl_str_mv 2022-05-11
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Research paper
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://bjopm.org.br/bjopm/article/view/1252
10.14488/BJOPM.2022.008
url https://bjopm.org.br/bjopm/article/view/1252
identifier_str_mv 10.14488/BJOPM.2022.008
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv https://bjopm.org.br/bjopm/article/view/1252/1018
dc.rights.driver.fl_str_mv http://creativecommons.org/licenses/by/4.0
info:eu-repo/semantics/openAccess
rights_invalid_str_mv http://creativecommons.org/licenses/by/4.0
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Brazilian Association for Industrial Engineering and Operations Management (ABEPRO)
publisher.none.fl_str_mv Brazilian Association for Industrial Engineering and Operations Management (ABEPRO)
dc.source.none.fl_str_mv Brazilian Journal of Operations & Production Management; Vol. 19 No. 3 (2022); 1-19
2237-8960
reponame:Brazilian Journal of Operations & Production Management (Online)
instname:Associação Brasileira de Engenharia de Produção (ABEPRO)
instacron:ABEPRO
instname_str Associação Brasileira de Engenharia de Produção (ABEPRO)
instacron_str ABEPRO
institution ABEPRO
reponame_str Brazilian Journal of Operations & Production Management (Online)
collection Brazilian Journal of Operations & Production Management (Online)
repository.name.fl_str_mv Brazilian Journal of Operations & Production Management (Online) - Associação Brasileira de Engenharia de Produção (ABEPRO)
repository.mail.fl_str_mv bjopm.journal@gmail.com
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