IEEE Access (Jan 2020)
Selecting Projects on the Brazilian R&D Energy Sector: A Fuzzy-Based Approach for Criteria Selection
Abstract
Many companies around the world rely on R&D to better their chances for profit and permanence in a dynamic market. To keep up with ongoing changes, many ideas arise and some transform into projects. Since resources are limited, organizations seek to select only the most suitable projects to meet their objectives. This is an old practice. However, project portfolio characteristics have changed. The portfolio objectives of today go beyond profit: strategy, environment and society have also become important, along with many other decision criteria. Computational power has also been enhanced, making multi-data decision approaches more feasible, even for small-profit organizations. In the last half century, many authors have proposed multicriteria decision making (MCDM) methods for project portfolio selection (PPS) for Research and Development (R&D). Nevertheless, only a few paid due importance to the criteria used, which would be a central issue on any multicriteria decision. Thus, in order to contribute to the R&D PPS field of study, this work investigates the hypothesis that the criteria used in R&D PPS can be selected in an uncertain environment, according to their influence and importance. To do so, we propose a novel MCDM approach for criteria selection, that integrates Fuzzy-based DEMATEL (Decision Making Trial and Evaluation Laboratory) and Fuzzy-AHP (Analytic Hierarchy Process) Extend Analysis methods. We are also presenting a case study for a representative electrical-public Brazilian R&D organization, that from 2008 to 2018 managed R&D project portfolios valued at around US$1.2 billion. The results reflect current Brazilian concerns on the prioritized criteria, such as environmental, social and technical criteria, especially on the face of the disaster occurrences that took place on the media on the last years. In an overall manner, the results provide guidance on the topic and facilitate knowledge accumulation and creation concerning the criteria selection process in MCDM-based R&D PPS.
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