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Book part
Publication date: 5 October 2018

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Fuzzy Hybrid Computing in Construction Engineering and Management
Type: Book
ISBN: 978-1-78743-868-2

Book part
Publication date: 5 October 2018

Long Chen and Wei Pan

With numerous and ambiguous sets of information and often conflicting requirements, construction management is a complex process involving much uncertainty. Decision makers may be…

Abstract

With numerous and ambiguous sets of information and often conflicting requirements, construction management is a complex process involving much uncertainty. Decision makers may be challenged with satisfying multiple criteria using vague information. Fuzzy multi-criteria decision-making (FMCDM) provides an innovative approach for addressing complex problems featuring diverse decision makers’ interests, conflicting objectives and numerous but uncertain bits of information. FMCDM has therefore been widely applied in construction management. With the increase in information complexity, extensions of fuzzy set (FS) theory have been generated and adopted to improve its capacity to address this complexity. Examples include hesitant FSs (HFSs), intuitionistic FSs (IFSs) and type-2 FSs (T2FSs). This chapter introduces commonly used FMCDM methods, examines their applications in construction management and discusses trends in future research and application. The chapter first introduces the MCDM process as well as FS theory and its three main extensions, namely, HFSs, IFSs and T2FSs. The chapter then explores the linkage between FS theory and its extensions and MCDM approaches. In total, 17 FMCDM methods are reviewed and two FMCDM methods (i.e. T2FS-TOPSIS and T2FS-PROMETHEE) are further improved based on the literature. These 19 FMCDM methods with their corresponding applications in construction management are discussed in a systematic manner. This review and development of FS theory and its extensions should help both researchers and practitioners better understand and handle information uncertainty in complex decision problems.

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Fuzzy Hybrid Computing in Construction Engineering and Management
Type: Book
ISBN: 978-1-78743-868-2

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Book part
Publication date: 5 October 2018

Olubukola Tokede, Adam Ayinla and Sam Wamuziri

The robust appraisal of exploration drilling concepts is essential for establishing the economic viability of a prospective recovery field. This study evaluates the different…

Abstract

The robust appraisal of exploration drilling concepts is essential for establishing the economic viability of a prospective recovery field. This study evaluates the different concept selection methods that were considered for drilling operations at the Trym field in Norway. The construction of drilling rigs is a capital-intensive process, and it involves high levels of economic risk. These risks can be broadly categorised as aleatoric (i.e. those related to chance) and epistemic (i.e. those related to knowledge). Evaluating risks in the investment appraisal process tends to be a complicated process. Project risks are evaluated using Monte Carlo simulation (MCS) and are based on the fuzzy analytic hierarchy process (AHP). MCS provides a useful means of evaluating variabilities (i.e. aleatoric risks) in oil drilling operations. However, many of the economic risks in oil drilling processes are unanticipated, and, in some cases, are not readily expressible in quantitative values. The fuzzy AHP is therefore used to appraise the qualitatively defined indirect revenues comprising risks that affect future flexibilities, schedule certainty and health and safety performance. Both the Monte Carlo technique and the fuzzy AHP technique found that a cumulative revenue variation of up to 30% is possible in any of the considered drilling options. The fuzzy AHP technique estimates that the chances of profitability being less than NOK 1 billion over a five-year period is 0.5%, while the Monte Carlo technique estimates suggest a more conservative proportion of 10%. Overall, the fuzzy AHP technique is easy to use and flexible, and it demonstrates increased robustness and improved predictability.

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Fuzzy Hybrid Computing in Construction Engineering and Management
Type: Book
ISBN: 978-1-78743-868-2

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Book part
Publication date: 5 October 2018

Long D. Nguyen, Long Le-Hoai, Dai Q. Tran, Chau N. Dang and Chau V. Nguyen

Managing complex construction projects is a challenging task because it involves multiple factors and decision-making processes. A systematic evaluation of these complex factors…

Abstract

Managing complex construction projects is a challenging task because it involves multiple factors and decision-making processes. A systematic evaluation of these complex factors is imperative for achieving project success. As most of these factors are qualitative or intangible in nature, decision makers often rely on subjective judgements when comparing and evaluating them. The hybrid techniques that integrate fuzzy set theory and the analytic hierarchy process (AHP) are able to deal with such problems. This chapter discusses various hybrid techniques of the fuzzy AHP and presents an application of these techniques to the evaluation of transportation project complexity, which is essential for prioritising resource allocation and assessing project performance. Project complexity can be quantified and visualised effectively with the application of the fuzzy AHP. This chapter enhances the understanding of construction project complexity and fuzzy hybrid computing in construction engineering and management. Future research should address the calibration of fuzzy membership functions in pairwise comparisons for each individual decision maker and develop computational tools for solving optimisation problems in the constrained fuzzy AHP. In the area of construction project complexity, future research should investigate how scarce resources are allocated to better manage complex projects and how appropriate resource allocation improves their performance.

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Fuzzy Hybrid Computing in Construction Engineering and Management
Type: Book
ISBN: 978-1-78743-868-2

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Book part
Publication date: 5 October 2018

Nima Gerami Seresht, Rodolfo Lourenzutti, Ahmad Salah and Aminah Robinson Fayek

Due to the increasing size and complexity of construction projects, construction engineering and management involves the coordination of many complex and dynamic processes and…

Abstract

Due to the increasing size and complexity of construction projects, construction engineering and management involves the coordination of many complex and dynamic processes and relies on the analysis of uncertain, imprecise and incomplete information, including subjective and linguistically expressed information. Various modelling and computing techniques have been used by construction researchers and applied to practical construction problems in order to overcome these challenges, including fuzzy hybrid techniques. Fuzzy hybrid techniques combine the human-like reasoning capabilities of fuzzy logic with the capabilities of other techniques, such as optimization, machine learning, multi-criteria decision-making (MCDM) and simulation, to capitalise on their strengths and overcome their limitations. Based on a review of construction literature, this chapter identifies the most common types of fuzzy hybrid techniques applied to construction problems and reviews selected papers in each category of fuzzy hybrid technique to illustrate their capabilities for addressing construction challenges. Finally, this chapter discusses areas for future development of fuzzy hybrid techniques that will increase their capabilities for solving construction-related problems. The contributions of this chapter are threefold: (1) the limitations of some standard techniques for solving construction problems are discussed, as are the ways that fuzzy methods have been hybridized with these techniques in order to address their limitations; (2) a review of existing applications of fuzzy hybrid techniques in construction is provided in order to illustrate the capabilities of these techniques for solving a variety of construction problems and (3) potential improvements in each category of fuzzy hybrid technique in construction are provided, as areas for future research.

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Fuzzy Hybrid Computing in Construction Engineering and Management
Type: Book
ISBN: 978-1-78743-868-2

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Sustainability Assessment
Type: Book
ISBN: 978-1-78743-481-3

Book part
Publication date: 13 October 2009

Karen M. Hogan, Amy F. Lipton and Gerard T. Olson

Bond investing requires decision-making on multiple levels. Some criteria are qualitative, some are quantitative, and there may be conflicting objectives such as avoidance of…

Abstract

Bond investing requires decision-making on multiple levels. Some criteria are qualitative, some are quantitative, and there may be conflicting objectives such as avoidance of credit risk versus need for income. Since managers of endowment funds must allocate their assets based on numerous dimensions, a multi-criteria decision model can help to evaluate competing criteria. We describe the Analytical Hierarchy Process (AHP), which allows investors to integrate multiple decision criteria, and apply the model to the sector allocation problem faced by managers of endowment portfolios. The AHP gives rise to a flexible model for bond investors for a range of economic scenarios, risk profiles, and time horizons.

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Financial Modeling Applications and Data Envelopment Applications
Type: Book
ISBN: 978-1-84855-878-6

Book part
Publication date: 13 June 2023

Mona Ali Ali

The main problem addressed by this research is the current debate between the negative and positive effects of industrial clusters. This debate is a result of gaps between…

Abstract

The main problem addressed by this research is the current debate between the negative and positive effects of industrial clusters. This debate is a result of gaps between theoretical implications and empirical evidence in both the classical agglomeration theory and the agglomeration lifecycle theory. The purpose of this study is to propose a framework for developing an index measuring both organizational cluster involvement and organizational supply chain including the three pillars (economic, social, and environmental). Furthermore, the index acts as a quantitative predictor of the stages of the life cycle of industrial clusters. Adopting a case study methodology, the applicability of the index development framework is demonstrated. First, cross-sectional exploratory interviews are performed to locate items measuring the three pillars of organizational sustainability within Egyptian communication industry. Second, an explanatory, cross-sectional approach is applied gathering data from eight professionals related to involvement and supply chain sustainability of their organizations. Analytical hierarchical process is used for weighting and aggregating individual item metrics into two indicators (Saaty, 1980). Measuring, managing, and controlling capabilities of organization's supply chains outweighs the need to manage risks. The proposed framework aids firms within a cluster in making timely decisions about what needs addressing to improve supply chain sustainability performance. Hence, all environmental, social, and economic capabilities can be effectively monitored and controlled.

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Industry Clusters and Innovation in the Arab World
Type: Book
ISBN: 978-1-80262-872-2

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Book part
Publication date: 24 November 2023

Sudhir Rana, Jagroop Singh and Sakshi Kathuria

The study responds to the common concerns of authors, reviewers, and editors on writing and publishing high-quality literature review (LR) studies. First, we evolved the…

Abstract

The study responds to the common concerns of authors, reviewers, and editors on writing and publishing high-quality literature review (LR) studies. First, we evolved the background and decision elements on the five parameters of a quality LR paper: Planning, Operationalizing, Writing, Embedding, and Reflecting (POWER), from the editorials and guiding literature. Statistical procedure and refinement of 256 responses from writers, reviewers, and editors revealed 37 decision elements. Finally, a multicriteria-decision-making approach was applied to the detailed responses from the lead editors of ABDC, Scopus, ABS, and WoS journals, and 31 decision elements were found strong enough to represent these five parameters on the quality of LR studies. All five parameters are found important to be considered. However, a high priority is suggested for embedding (the results coming out of the review) and operationalizing (the process of conducting the review), whereas reflection, writing, and planning of LR papers still remain important. The purpose of the POWER framework is to overcome the challenges and decision dilemmas faced by writers and decision-makers. The POWER framework acts as a guiding tool to conduct LR studies in general and business management scholars in specific ways. In addition, this study provides a checklist (Table 6) and template (Appendix A1) of a quality LR study to its stakeholders.

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Advancing Methodologies of Conducting Literature Review in Management Domain
Type: Book
ISBN: 978-1-80262-372-7

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Book part
Publication date: 20 November 2020

Alicia Pérez, José Villena, Diego Matuk, Ana Luna and Mario Chong

The functional strategy map (FSM) is a tool used to capture the organizations' supply chain strategy. Its product, the strategy map, allows the organizations to apply the…

Abstract

The functional strategy map (FSM) is a tool used to capture the organizations' supply chain strategy. Its product, the strategy map, allows the organizations to apply the Conceptual System Assessment and Reformulation methodology (CSAR) with a multi-objective perspective to rethink the business strategy. The aim of this study is to optimize a company business strategy of corrugate cardboard boxes, with its strategic and tactical relations and problems obtained with the CSAR methodology and the FSM tool, as well as its operational priorities identified by the analytical hierarchy process, which is a tool to support multicriteria decision-making. This proposal, with a mixed methodology approach, generates multiple improvements, such as the reduction of the overall cost, the optimal fill rate operations, and the articulation of the strategic and functional decisions in this organization, which are based on a cost competitive strategy. The results were validated by the financial assessments that ensure an attractive return of the investment and the articulation between the business strategies with its functional plans.

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Supply Chain Management and Logistics in Emerging Markets
Type: Book
ISBN: 978-1-83909-333-3

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