Fuzzy Improvement-Project Portfolio Selection Considering Financial Performance and Customer Satisfaction

Author:

Tansakul Nantasak1,Yenradee Pisal1

Affiliation:

1. Sirindhorn International Institute of Technology, Thammasat University, Bangkok, Thailand

Abstract

This article develops a suitable and practical method for improvement-project portfolio selection under uncertainty, based on the requirements of a bank in Thailand. A significant contribution of this article is that the proposed method can determine an optimal project portfolio, to satisfy the customer/employee satisfaction targets and an investment budget constraint. This allows users to estimate parameters as triangular fuzzy numbers under pessimistic, most likely, and optimistic situations. Four mathematical models are proposed to maximize the defuzzified values of fuzzy NPV and fuzzy BCR, and to maximize the possibility that the project portfolio is economically justified under fuzzy situations of NPV and BCR. Results reveal that maximizing the defuzzified value of fuzzy NPV offers the most favorable result since it maximizes the current wealth of the bank. Additionally, the possibility that the entire project portfolio is economically justified under all fuzzy situations is relatively high for all numerical cases.

Publisher

IGI Global

Subject

Artificial Intelligence,Management of Technology and Innovation,Information Systems and Management,Organizational Behavior and Human Resource Management,Strategy and Management,Information Systems

Reference43 articles.

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