scholarly journals Project Portfolio Selection Considering Total Cost of Ownership in the Automobile Industry

2019 ◽  
Vol 11 (17) ◽  
pp. 4586 ◽  
Author(s):  
Seunghoon Lee ◽  
Young Hoon Lee ◽  
Yongho Choi
Keyword(s):  
Portfolio Selection ◽  
Automobile Industry ◽  
Project Selection ◽  
Project Portfolio ◽  
Total Cost Of Ownership ◽  
Business Sustainability ◽  
Total Cost ◽  
Project Portfolio Selection ◽  
Cost Of Ownership ◽  
Sales Model

Project portfolio selection for developing a new product is critical to a company because the attributes of the project reflect on the price, quality, and functionality of the developed product. The market evaluates the developed product and the assessment of the product value determines its sale on the market. The project portfolio selection and sales are interconnected from a corporate perspective. The automobile industry is an industry which responds to the issue of business sustainability sensitively because their business directly relates to the environment. In this study, business sustainability was approached through the perspective of total cost of ownership (TCO) embedded into the project selection model after the attributes of the project, investment and efficiency, and the TCO of the product were combined to generate a sales function. The sales and revenue models were proposed, and the validity of the models was confirmed using a case from the automobile industry. As a result of the experiments, the sales model tended to show that the market share increased by selecting the proper number of projects to maximize sales. In contrast, the revenue model showed a tendency to select projects more than the sales model in order to maximize the profits of the company. By suggesting project selection models in a new perspective different from the ones in existing studies, this study is valuable with regard to the fact that the suggested models preserve project interrelationships, TCO, and product sales in a practical manner to enhance business sustainability.

An Integer Linear Programming Model for Project Portfolio Selection in a Community

2011 ◽  
Vol 4 ◽  
pp. 67-74
Author(s):  
C.O. Anyaeche ◽  
R.A. Okwara
Keyword(s):  
Linear Programming ◽  
Portfolio Selection ◽  
Integer Linear Programming ◽  
Programming Model ◽  
Project Selection ◽  
Linear Programming Model ◽  
Project Portfolio ◽  
Integer Linear Programming Model ◽  
Total Cost ◽  
The Right

Project portfolio selection involves decision making and it plays a crucial role in any organization. Therefore selecting not just the right projects but also the right mix of projects for the portfolio is considered as one of the most important tasks for organisations to ensure the achievement of the corporate strategy within limited resources and capabilities of the organization. Prioritizing and selecting optimal project portfolio can be very challenging especially with a large number of projects with multiple constraints and interdependences. In an ideal world with unlimited budget the project selection process would be very straightforward. However, this is not the case in life situations. In this work, an attempt is made to address this challenge. An integer linear programming model for project selection was developed and applied in a selected organization in Nigeria. The model seeks to optimize the mix of the projects to be undertaken while keeping the total cost and project interdependency as constraints. The analysis of the results showed that a total of 11 projects out of 16 were eligible for selection in the period under review. The total cost of the selected project was 92,840,000 Naira, which was about 90% of the total budget. Ordinarily, apart from not prioritizing and obtaining an optimal project mix, the community would have spread its entire resources on the 16 projects with some of them being abandoned later. The model can also be used to plan an optimal mix of project portfolio for a future date within the limitations of a given set of constraints and interdependence.

scholarly journals Scaling up a Project Portfolio Selection Technique by using Multiobjective Genetic Optimization

2014 ◽  
Vol 7 (4) ◽  
pp. 60-74
Author(s):  
Márcio De Oliveira Barros ◽  
Hélio Costa ◽  
Fábio Vitorino Figueiredo ◽  
Ana Regina Cavalcanti Rocha
Keyword(s):  
Genetic Algorithm ◽  
Experimental Study ◽  
Portfolio Selection ◽  
Heuristic Search ◽  
Large Scale ◽  
Random Search ◽  
Project Selection ◽  
Project Portfolio ◽  
Selection Technique ◽  
Project Portfolio Selection

This paper proposes a multiobjective heuristic search approach to support a project portfolio selection technique on scenarios with a large number of candidate projects. The original formulation for the technique requires analyzing all combinations of the candidate projects, which turns to be unfeasible when more than a few alternatives are available. We have used a multiobjective genetic algorithm to partially explore the search space of project combinations and select the most effective ones. We present an experimental study based on four real-world project selection problems that compares the results found by the genetic algorithm to those yielded by a non-systematic search procedure (random search). A second experimental study evaluates the best parameter settings to perform the heuristic search. Experimental results show evidence that the project selection technique can be used in large-scale scenarios and that the genetic algorithm presents better results than simpler search strategies.

Total Cost of Ownership – Neue Antworten auf alte Fragen

2006 ◽  
Vol 101 (7-8) ◽  
pp. 435-439
Author(s):  
Walther Maier ◽  
Johannes Rothmund ◽  
Uwe Heisel
Keyword(s):  
Total Cost Of Ownership ◽  
Total Cost ◽  
Cost Of Ownership

Total Cost of Ownership-Betrachtungen von Werkzeugmaschinen

2016 ◽  
Vol 111 (12) ◽  
pp. 798-801
Author(s):  
Gisela Lanza ◽  
Volker Schulze ◽  
Farboud Bejnoud ◽  
Tom Stähr ◽  
Anne Wruck ◽  
...  
Keyword(s):  
Total Cost Of Ownership ◽  
Total Cost ◽  
Cost Of Ownership

scholarly journals A Hybrid Multi-Population Approach to the Project Portfolio Selection and Scheduling Problem for Future Force Design

IEEE Access ◽  
2021 ◽  
pp. 1-1
Author(s):  
Kyle Robert Harrison ◽  
Saber Elsayed ◽  
Ivan L. Garanovich ◽  
Terence Weir ◽  
Michael Galister ◽  
...  
Keyword(s):  
Portfolio Selection ◽  
Project Portfolio ◽  
Scheduling Problem ◽  
Population Approach ◽  
Project Portfolio Selection

Heavy Lifters, India: Towards a Circular Economy Era

2021 ◽  
pp. 097226292110435
Author(s):  
Anupama Prashar
Keyword(s):  
Operations Management ◽  
Circular Economy ◽  
Business Models ◽  
Total Cost Of Ownership ◽  
Total Cost ◽  
Planning And Control ◽  
Cost Of Ownership ◽  
Challenges And Opportunities ◽  
And Control ◽  
The Impact

The case helps students to understand the emerging concept of linear and circular economies. It facilitates to examine the implications of circular business models such as remanufacturing on operations management decisions. It also introduces them to the concept of total cost of ownership and impact of remanufacturing on reducing total cost of ownership. The cases help students to evaluate the challenges and opportunities of remanufacturing business in emerging economy like India. This case is among the first few cases on the application of circular economy principles in context of heavy-duty and off-road sector and the impact of these principles on product design and production planning and control decisions.

Der richtige Kompromiss zwischen Energieeffizienz und Variantenreduzierung

Konstruktion ◽  
2019 ◽  
Vol 71 (07-08) ◽  
pp. 44-47
Keyword(s):  
Total Cost Of Ownership ◽  
Total Cost ◽  
Cost Of Ownership

Große Intralogistikprojekte für Flughäfen oder Paketzentren müssen verschiedene konkurrierende Ansprüche unter einen Hut bringen. Nord Drivesystems setzt dabei für die Antriebstechnik auf einen umfassenden TCO (Total Cost of Ownership) -Ansatz, der sowohl den Systemintegratoren als auch den Betreibern gerecht wird. Der Schlüssel zum besten Kompromiss ist ein individuell zugeschnittenes Antriebskonzept, das nachfolgend vorgestellt wird.

Ausfallanalyse von Werkzeugmaschinen*/A reliability analysis of machine tools - Total Cost of Ownership 2.0 in relation to the application

2017 ◽  
Vol 107 (07-08) ◽  
pp. 507-510
Author(s):  
T. Stähr ◽  
G. Prof. Lanza
Keyword(s):  
Machine Tool ◽  
Reliability Analysis ◽  
Machine Tools ◽  
Economic Cost ◽  
Lifetime Prediction ◽  
Failure Behavior ◽  
Cost Consideration ◽  
Total Cost Of Ownership ◽  
Total Cost ◽  
Cost Of Ownership

Realitätsnahe Lebensdauerprognosen sind für eine ganzheitliche, betriebswirtschaftliche Kostenbetrachtung sehr wichtig. Wirtschaft und Forschung bemühen sich seit Langem, die Total Cost of Ownership (TCO) von Werkzeugmaschinen zu berücksichtigen. Eine Umfrage unter Herstellern und Betreibern von Werkzeugmaschinen analysiert Verbreitung, erwartete Potentiale sowie Hemmnisse von TCO-Betrachtungen. Anhand der Anforderungen der Branche wurde ein Modell mit Fokus auf der belastungsabhängigen Beschreibung des Ausfallverhaltens von Maschinen und Anlagen entwickelt, das in bestehende Standards eingebettet werden kann.   A realistic lifetime prediction is highly valued in a holistic economic cost consideration. For years, industry and research have endeavored to consider the Total Cost of Ownership (TCO) of a machine tool. A survey of manufacturers and operators of machine tools analyzes distribution, expected potential and obstacles of TCO. Based on the identified requirements, a model that can be integrated into existing standards has been developed. It focuses on failure behavior of machines and plants, taking stresses into account.

scholarly journals Effects of providing total cost of ownership information on consumers’ intent to purchase a hybrid or plug-in electric vehicle

2015 ◽  
Vol 72 ◽  
pp. 71-86 ◽  
Author(s):  
Jerome Dumortier ◽  
Saba Siddiki ◽  
Sanya Carley ◽  
Joshua Cisney ◽  
Rachel M. Krause ◽  
...  
Keyword(s):  
Electric Vehicle ◽  
Total Cost Of Ownership ◽  
Total Cost ◽  
Intent To Purchase ◽  
Cost Of Ownership
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