کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
276002 | 1429700 | 2011 | 12 صفحه PDF | دانلود رایگان |
![عکس صفحه اول مقاله: A Real Option based Six Sigma project evaluation and selection model A Real Option based Six Sigma project evaluation and selection model](/preview/png/276002.png)
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.
Research Highlights
► We model the evaluation and selection of Six Sigma projects in a petrochemical industries which is implementing Six Sigma.
► We examine the effect of values and scheduling of the Six Sigma projects in light of risks and resources associated with implementation.
► Evaluation of Six Sigma projects based on real options provides flexibility in decision making.
► Portfolio approach of selection improves the value and minimises the risk of overall six sigma program.
Journal: International Journal of Project Management - Volume 29, Issue 8, December 2011, Pages 1091–1102