Table of Contents Author Guidelines Submit a Manuscript
Mathematical Problems in Engineering
Volume 2016 (2016), Article ID 9721726, 16 pages
http://dx.doi.org/10.1155/2016/9721726
Research Article

A Novel Hybrid MCDM Procedure for Achieving Aspired Earned Value Project Performance

1Department of Industrial Management, National Taiwan University of Science and Technology, No. 43, Section 4, Keelung Road, Taipei 106, Taiwan
2Graduate Institute of Urban Planning, College of Public Affairs, National Taipei University, No. 151, University Road, San Shia, New Taipei City 23741, Taiwan
3Institute of Management of Technology, National Chiao Tung University, No. 1001, Ta-Hsueh Road, Hsinchu 300, Taiwan

Received 30 December 2015; Revised 14 April 2016; Accepted 19 April 2016

Academic Editor: Danielle Morais

Copyright © 2016 Shou-Yan Chou et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

A better-performing project gains more subsequent businesses. Many organizations worldwide apply an earned value management (EVM) system to monitor and control their projects’ performance. However, a successful EVM application requires handling multiple interinfluenced criteria with feedback effects for decision-making and continuous improvements throughout the application life cycle. The conventional decision approaches assume that preferences between criteria are independent and put their focuses on decision-making. This study employs a hybrid multiple criteria decision-making (HMCDM) method to devise a novel procedure to fulfil the deficiencies. The proposed procedure enables us to evaluate interinfluence effects and gap indices among criteria/dimensions/alternatives and then systemize the evaluation results in a context of influential network relation map (INRM). The INRM provides managers with visual information to find a route in making application decisions, while identifying critical gaps for continuous improvements. A numerical example is presented to illustrate the applicability of the proposed procedure. The results show that, by employing the HMCDM method, the proposed procedure can provide organizations with a foundation to ensure that the aspired EVM application outcomes are achieved at different levels within an organization.