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In the context of project management, the attention given to project portfolio management has increased in recent years. The use of mathematical programming for portfolio management is also on the rise, because it integrates the project interactions with the multiple objectives of portfolio management into a single model. Among the possible objectives, recent studies have paid special attention to the emerging objective of future preparedness, which has not yet been incorporated into the existing mathematical models. This paper presents a mixed-integer nonlinear optimization model for portfolio selection that considers four main performance measures for project management, namely, value maximization, strategic alignment, balance, and future preparedness. Given the importance of the last measure, the purpose of this paper is to provide a more complete model that provides the marginal contribution and the best combination of projects according to the needs of the company. The model is tested using real data from two companies, one in Brazil and one in Canada, and the results obtained are coherent with their respective practices. [ABSTRACT FROM AUTHOR]

A multi-depot Chinese postman problem (MDCP) arises from a network (e.g. cityplan) in which several depots are located wherefrom edges (e.g. streets) have to be served. Since costs are involved with each visit to an edge, the objective is to find a minimum cost tour in the network that visits all edges of the network. Such a minimum cost tour consists of a collection of subtours such that the subtours originate from different depots, and each subtour starts and ends at the same depot. This typical OR problem turns into a multi decision maker problem if agents are assigned to the streets. In this new setting the cost of a minimum cost tour that visits all edges have to be paid by the agents. However, now each group of agents (coalition) has the opportunity to find its own minimum cost tour, i.e. a minimum cost tour that only visits the edges owned by the group of agents. Therefore, the main objective is to find allocations of the cost of a minimum tour that visits all agents in such a way that no coalition has higher costs than the costs incurred by its own minimum tour. We will use cooperative game theory to investigate whether these so-called core allocations exist. Therefore, we consider a cooperative Chinese postman (CP) game that is induced by an MDCP by associating every edge of the network with a different agent. In this paper, we characterize classes of networks that ensure the existence of core allocations, the so-called CP balanced graphs, and the existence of specific core allocations, the so-called CP submodular graphs. [ABSTRACT FROM AUTHOR]

In today's business world, oil companies cannot be productive and competitive, and thus, will not survive without taking the supply chain management concepts into account. Consequently, the management of a crude oil supply chain (COSC) is increasingly receiving substantial importance. The growing number of papers and books on this topic is a further witness of this fact. To foster insight into issues intertwined with COSC problems, this paper is devoted to an extensive review of mathematical programming models in this context. The classification approach for this review is based on a taxonomy framework. In this framework, ongoing and emerging challenges surrounding the strategic and tactical decisions of COSC problems are investigated. As a main goal, the gaps of literature are analyzed to recommend possible research directions. [ABSTRACT FROM AUTHOR]

Consistency analysis is very important to ensure the reasonable ranking order. However, all previous consistency concepts for interval multiplicative preference relations (IMPRs) are insufficient to address this type of preference relations. This paper introduces a new consistency concept for IMPRs that is a natural extension of the Saaty’s consistency concept for multiplicative preference relations. Several desirable properties are discussed, and the relationship between the new concept and two previous ones is studied. Then, a method to judge the consistency of IMPRs is proposed. Considering the inconsistent case, a 0–1 mixed programming model to derive consistent IMPRs from inconsistent ones is established. To determine missing values in incomplete HFPRs, 0–1 mixed programming models are constructed that can address the situation where ignore objects exist. Meanwhile, illustrative examples are offered to show the feasibility and efficiency of the developed theoretical results, and comparison analysis is provided. Finally, a consistency analysis based algorithm to decision making with IMPRs is developed that can address inconsistent and incomplete cases. [ABSTRACT FROM AUTHOR]

This paper focuses on a multidemand multisource order quantity allocation problem with multiple transportation alternatives. To solve this problem, a bilevel multiobjective programming model under a mixed uncertain environment is proposed. Two levels of decision makers are considered in the model. On the upper level, the purchaser aims to allocate order quantity to multiple suppliers for each demand node with the consideration of three objectives: total purchase cost minimization, total delay risk minimization, and total defect risk minimization. On the lower level, each supplier attempts to optimize the transportation alternatives with total transportation and penalty costs minimization as the objective. In contrast to prior studies, considering the information asymmetry in the bilevel decision, random and fuzzy random variables are used to model uncertain parameters of the construction company and the suppliers. To solve the bilevel model, a solution method based on Kuhn-Tucker conditions, sectional genetic algorithm, and fuzzy random simulation is proposed. Finally, the applicability of the proposed model and algorithm is evaluated through a practical case from a large scale construction project. The results show that the proposed model and algorithm are efficient in dealing with practical order quantity allocation problems. [ABSTRACT FROM AUTHOR]