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Journals / Business and Economics Research Journal / 2019 / Cilt: 10 - Sayı: 5

Project Selection Method Based on Balanced Scorecard Framework

Duygu Ece YILMAZ
ZAHİDE FİGEN ANTMEN
Pages
1179–1187
DOI
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

The model generates consistent results and can be used by organisations at the project and investment evaluation step.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:Project selection is one of the most important decisions for an organisation to achieve its goals and manage its resources effectively.
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Key Findings & Data:The performance of the developed model was tested with randomly generated sample data.
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Conclusion & Impact:The model generates consistent results and can be used by organisations at the project and investment evaluation step.
🔬Design:Modeling & Simulation
📍Scope:Comprehensive Sample
⚙️Variables:Domain Parameters

Özet

Project selection is one of the most important decisions for an organisation to achieve its goals and manage its resources effectively. This study aims to develop a project evaluation method using the balanced scorecard (BSC) dimensions. Although the BSC technique has been used in combination with other methods in various fields, such as supplier qualification and project evaluation, the dimensions of the BSC method have not been defined as parameters in the mathematical model of a knapsack problem. By doing so and considering time and budget constraints, the developed mathematical model selects the most suitable projects using the weighted sum of parameters. The performance of the developed model was tested with randomly generated sample data. Sixteen alternatives were assessed to determine the impact of varying dimension coefficients, budgets, project durations and labour requirement constraints to be established by organisations. The model generates consistent results and can be used by organisations at the project and investment evaluation step.

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Cite This Article

YILMAZ, D. E., ANTMEN, Z. F. (2019). Project Selection Method Based on Balanced Scorecard Framework. Business and Economics Research Journal, Cilt: 10 - Sayı: 5, 1179–1187. https://ajindex.com/articles/143238

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