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1.
Analytical hierarchy process as a tool for selecting and evaluating projects
Iztok Palčič, Bojan Lalić, 2009, original scientific article

Abstract: This paper explains the reasons for selecting the right project to conduct business in various organisations. It presents several methods for evaluating and selecting projects. A special focus is on Analytical Hierarchy Process (AHP) method that is becoming increasingly important tool in different decision-making situations. We have used this method in project management anddeveloped a project evaluation and selecting process. We have also developed a simple application in MS Excel that helps with calculating projectsć total priority grade. This tool helps us with simulating project importance based on changes in perception of the criteria.
Keywords: project selection, project evaluation, analytical hierarchy process, criteria simulation
Published: 31.05.2012; Views: 1100; Downloads: 62
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2.
A model of data flow in lower CIM levels
Igor Drstvenšek, Ivo Pahole, Jože Balič, 2004, original scientific article

Abstract: After years of work in fields of computer-integrated manufacturing (CIM), flexible manufacturing systems (FMS), and evolutionary optimisation techniques, several models of production automation were developed in our laboratories. The last model pools the discoveries that proved their effectiveness in the past models. It is based on the idea of five levels CIM hierarchy where the technological database (TDB) represents a backbone of the system. Further on the idea of work operation determination by an analyse of the production system is taken out of a model for FMS control system, and finally the approach to the optimisation of production is supported by the results of evolutionary based techniques such as genetic algorithms and genetic programming.
Keywords: computer integrated manufacturing, flexible manufacturing systems, evolutionary optimisation techniques, production automation, CIM hierarchy, technological databases, production optimisation, genetic algorithms, genetic programming
Published: 01.06.2012; Views: 1202; Downloads: 56
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3.
Why European subordinates trust their managers
Jon Aarum Andersen, Jure Kovač, 2012, original scientific article

Abstract: This article addresses the problem of why subordinates trust their managers based on the responses from 108 subordinates of seven Slovenian managers and from 138 subordinates of eight Swedish managers. The subordinates of these managers responded to a 20-item instrument tested for reliability and validity. In both samples the managers enjoyed different degrees of trust. The level of trust vested in Slovenian managers was higher than in Swedish ones. The kinds of managers’ actions that enhanced trust were similar amongst Swedish and Slovenian subordinates. Different socio-cultural contexts may theoretically explain why some other kinds of actions had contrasting effects between the samples. On the whole, the actions of managers explain trust in both countries. Subordinates’ trust in managers declines with the increasing hierarchical distance in both national samples. Managers need to show in action that they trust their subordinates, promote their interests, demonstrate appreciation of their subordinates, and solve problems.
Keywords: trust, managers, subordinates, societal factors, hierarchy
Published: 10.07.2015; Views: 378; Downloads: 155
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4.
An application of analytic hierarchy process (AHP) and sensitivity analysis for maintenance policy selection
Damjan Maletič, Matjaž Maletič, Viktor Lovrenčič, Basim Al-Najjar, Boštjan Gomišček, 2014, original scientific article

Abstract: Purpose: The purpose of this paper is to apply an analytic hierarchy process (AHP) for the evaluation/selection of maintenance policy. Methodology/Approach: The paper adopts a case study approach of selecting most appropriate maintenance policy in the case of Slovenian paper mill company. Several steps of the AHP method are used in order to structure the decision-making process. Five possible alternatives are considered: failure based maintenance, preventive maintenance, total productive maintenance, reliability centered maintenance and total quality maintenance. Findings: This paper proposes a framework for maintenance policy selection based on the AHP methodology. The framework was applied to select the most appropriate maintenance policy in a paper mill company. The results suggest that total quality maintenance is the most suitable concept for a paper machine. By performing a sensitivity analysis, it was revealed that the final outcome remained stable in all cases when the weights of the main criteria were increased for 25 percent. Originality/value: The paper contributes to the literature by providing a framework for decision-making process regarding the maintenance policy selection. In addition, this paper utilizes an exponentially weighted moving average (EWMA) chart for performing a consistency test. Moreover, a sensitivity analysis also presents an important implication of this study.
Keywords: analytical hierarchy process, decision making, maintenance policy
Published: 03.04.2017; Views: 551; Downloads: 172
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5.
Application of analytical hierarchy process in agriculture
Karmen Pažek, Črtomir Rozman, 2005, original scientific article

Abstract: Hierarchical decision models are a general decision support methodology aimed at the classification or evaluation of options that accur in desion-making processes. Decision models are typically developed through the decomposition of complex decision problems into smaller and less comple subproblems. This paper presents an approach to the development and implementation of multicriteria decision model based on Analytical Hierarchy Process - AHP (Expert Choice, EC). Likewise, the AHP is used as a potential multicriteria decision making method for application in agriculture. In order to show the implementation of explained MCDA methods in real situation in agriculture, theapplication of AHP on a sample model farm is presented in the second part of the article.
Keywords: multicriteria decision analysis, MCDA, analytical hierarchy process, AHP, decision support system, DSS, agriculture
Published: 20.07.2017; Views: 402; Downloads: 125
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6.
Performance indicators of management buyouts using the analytic hierarchy process method
Petra Grah, Vesna Čančer, Borut Bratina, 2018, original scientific article

Abstract: Background and Purpose: In Slovenia, few management buyout (MBO) studies have been carried out. The focus was mostly on the motives for acquisition of companies and the success rate of the acquisitions. This paper aims to analyse the indicators which suggest an impending bankruptcy or financial restructuring of companies and explore how these indicators are different for successful and unsuccessful MBOs. Methodology: In the survey, we included 23 selected MBOs in Slovenia between 2005 and 2008, using the following financial and non-financial indicators: profitability, performance, solvency and liquidity, using the analytic hierarchy process method. The key aim of the survey was to use financial and non-financial indicators to study if target companies where bankruptcy or financial restructuring has not yet been initiated prevalently have higher aggregate values compared to those in which bankruptcy or financial restructuring procedures have already begun. Thus, we used the selected indicators to demonstrate one of the possible methods to predict the success of a particular MBO. Results: We found that in most examples of unsuccessful MBOs, target companies have poorer results in terms of performance, solvency and liquidity, when compared to successful MBOs. Based on the selected areas, we divided the results into four quarters. We found that most target companies where MBOs had been unsuccessful are ranked in a lower quarter than most of the target companies where the MBOs had been successful. Conclusion: The papers main contribution is the finding that the selected financial and non-financial indicators differ in cases of successful and unsuccessful MBOs. This knowledge helps us to find ways of avoiding these situations in the future.
Keywords: management buy-outs, management, bankruptcy models, financial and non-financial indicators, the analytic hierarchy process
Published: 10.10.2018; Views: 286; Downloads: 144
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