Date of Graduation
12-2014
Document Type
Thesis
Degree Name
Master of Science in Industrial Engineering (MSIE)
Degree Level
Graduate
Department
Industrial Engineering
Advisor/Mentor
Gregory S. Parnell
Committee Member
Edward A. Pohl
Second Committee Member
Manuel D. Rossetti
Keywords
Construction Decision, Industrial Engineering, MODA, Operations Research, Portfolio Decision Analysis, Value Hierarchy
Abstract
A portfolio decision analysis strategic planning tool was developed for the Facilities Management Office at the University of Arkansas. The tool provides information to support budget allocation decisions based on their Strategic Planning Project List, project attributes (e.g, seat utilization, scheduling preferences, and sustainability rank), and budget constraints. The projects are evaluated using multiobjective decision analysis. We introduce dynamic value functions, which vary the range of the value measures based on the planning horizon, to evaluate the projects). We determine facilities portfolios based on the project values and constraints using Linear Programming. In addition, insightful reports are generated, which provide the stakeholders and decision makers visibility in the data trends that might affect the budget allocation in the future (e.g., student enrollment, fees increase).
Citation
Vargas Rojas, L. B. (2014). Strategic Planning Tool Development using Portfolio Decision Analysis. Graduate Theses and Dissertations Retrieved from https://scholarworks.uark.edu/etd/2034
Included in
Business Administration, Management, and Operations Commons, Higher Education Administration Commons, Industrial Engineering Commons, Operational Research Commons