Investment projects estimation with non-comparability criteria – ELECTRE IV method application
DOI:
https://doi.org/10.29015/cerem.203Keywords:
Investment project, coal excavation, multi-criteria analysis, ELECTRE IVAbstract
The aim of the paper is to show that the use of ELECTRE IV method for the investment projects evaluation in hard coal mine determines the ranking of investment projects. In this type of problems the criteria related to threats and financial criteria are dealt with. Usually the decision maker does not want or can not define the relationship between the criteria - non comparable criteria, understood as lack of information about preferences between the criteria. Based on the data obtained from coal mine enterprise, the paper analyzes the issue of building a ranking of nine projects assessed due to the estimated volume of the coal bed and the total costs and associated risks of methane and rock burst. The final ranking is an approximation of preferences system in which criteria incomparabilities and the significant importance of each criterion are taken into account.References
Vallée D., Zielniewicz P. (1994), ELECTRE III-IV, version 3.x - Aspects méthodologiques. Document du LAMSADE no 85, Paris, Université Paris-Dauphine.
Jonek-Kowalska I., Michalak A. (2012), Ryzyko, koszt kapitału i efektywność w procesie finansowania inwestycji rozwojowych w górnictwie węgla kamiennego, Warszawa, PWN.
Michalak A., Jonek-Kowalska I. (2012), Finansowanie inwestycji rozwojowych w górnictwie węgla kamiennego a wartość przedsiębiorstw górniczych, Warszawa, PWN.
Jajuga K., Jajuga T. (2006), Inwestycje – instrumenty finansowe, ryzyko finansowe, inżynieria finansowa, Warszawa, PWN.
Brandenburg H. (2002), Zarządzanie lokalnymi projektami rozwojowymi, Katowice, Wydawnictwo Akademii Ekonomicznej w Katowicach.
Samuelson P., Nordhaus W. (1995), Ekonomia 1, Warszawa, PWN.
Matłoka M.(2002), Matematyka w finansach i bankowości, Poznań, Wydawnictwo Akademii Ekonomicznej w Poznaniu.
Condurache G., Ciobanu R.M. (2003), Some Particular Aspects Concerning Electre Method Applications, 57th Meeting of the European Working Group, Multiple Criteria Decision Aiding, Viterbo, March 27-29.
Roy B. (1985), Methodologie Multicritere d’Aide a la Decision, Paris, Ed. Economica.
Roy B. (1990), Wielokryterialne wspomaganie decyzji, Warszawa, WNT.
Roy B., Bouyssou D. (1993), Aide Multicritere a la Decision: Methodes et Cas, Paris, Ed. Economica.
Hokkanen J., Salminen P. (1997):,ELECTRE III and IV Decision Aids in an Environmental Problem, „Journal Of Multi-Criteria Decision Analysis”, Vol.6/1997, s. 215–226.
Nowak M. (2006), Metody Electre, [w:] Metody wielokryterialne na polskim rynku finansowym, red. Trzaskalik T., Warszawa, PWE, s. 46–55.
Hwang C.L., Yoon K. (1981), Multiple Attribute Decision Making: Methods and Applications, New York, Springer-Verlag.
Turek M. (2013), System zarządzania kosztami w kopalni węgla kamiennego w cyklu istnienia wyrobiska wybierkowego, Warszawa, Difin.
Sojda A., Wolny M. (2015), Zastosowanie metody AHP w ocenie projektów inwestycyjnych kopalni węgla kamiennego, „Studia Ekonomiczne”, Zeszyty Naukowe Uniwersytetu Ekonomicznego w Katowicach, w druku.
Downloads
Issue
Section
License
The aim of CEREM is to make scientific work available in accordance with the principle of open access. The rules mentioned below are important, as they enable CEREM and its publisher, the WSB Merito University in Wroclaw, to distribute the scientific work to a wide public while complying with specific legal requirements, at the same time protecting the rights of the authors.
The author transfers to the WSB Merito University in Wroclaw, free of charge and without territorial limitations, with all proprietary copyrights to the said piece of work in the understanding of the act of 4th February 1994 on copyrights and derivative rights (Journal of Laws of 1994, no. 24, item 83, as amended) on an exclusivity basis, i.e. the rights to:
1. Make the piece of work in question available via the Digital Library established by the WSB Merito University in Wroclaw.
2. Produce, record and reproduce in multiple copies the piece of work using any techniques whatsoever, including printing, reprography, magnetic recording and digital processing, and particularly its reproduction by recording on CDs and similar data carriers,
3. Use fragments of the piece of work for promotional purposes in publications, promotional materials, the Internet and Intranet type networks managed by the WSB Merito University in Wroclaw.
4. Store the piece of work into computer databases managed by the WSB Merito University in Wroclaw.
5. Copy and reproduce the piece of work using photo-mechanic technologies other than those commonly known at the time of the signature hereof (photocopies, Xerox copies etc.),
6. Process the piece of work, transferring it into an electronic form, and distribute it on the Internet without limitations.
