A Real Option based Six Sigma project evaluation and selection model

被引：41
|
作者：
Padhy, R. K. [1 ]
Sahu, S. [1 ]
机构：
[1] Indian Inst Technol, Dept Ind Engn & Management, Kharagpur 721302, W Bengal, India
来源：
INTERNATIONAL JOURNAL OF PROJECT MANAGEMENT | 2011年 / 29卷 / 08期
关键词：
Six Sigma; Project evaluation and selection; Real option; Project portfolio; PORTFOLIO SELECTION; UNCERTAINTY;
D O I：
10.1016/j.ijproman.2011.01.011
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
Identification and selection of Six Sigma projects are one of the most frequently discussed issues in the Six Sigma literatures today. In this paper a two-stage methodology has been proposed based on (i) Real Option Analysis for evaluating the value of the project to improve the managerial flexibility (ii) a zero-one integer linear programming model for selecting and scheduling an optimal project portfolio, based on the organization's objectives and constraints. The methodology is illustrated through a case study from petrochemical industry carried out during 2007. The study contributes to managerial practices by identifying a new way of valuing the Six Sigma projects through Real Option Analysis by considering various kinds of risks. Resource-constrained environment has been chosen to test the proposed approach of selection of project portfolio and the model is validated with a detailed discussion. (C) 2011 Elsevier Ltd. and IPMA. All rights reserved.
引用
收藏
页码：1091 / 1102
页数：12
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