Date of Graduation


Document Type


Degree Name

Master of Science in Industrial Engineering (MSIE)

Degree Level



Industrial Engineering


Gregory S. Parnell

Committee Member

Edward A. Pohl

Second Committee Member

Manuel D. Rossetti


Construction Decision, Industrial Engineering, MODA, Operations Research, Portfolio Decision Analysis, Value Hierarchy


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).

FAMA_Tool.xlsm (1892 kB)