Selecting and Ranking Cost Research Projects
TECOLOTE RESEARCH INC HUNTSVILLE AL
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This paper describes a systematic methodology to select and rank projects in support of the CAO cost research mission. The paper is in two parts. Part I identifies a large list of candidate cost research projects, and their descriptions, which are divided into four categories 1 Databases 2 Cost Estimating Relationships CERs and Methods 3 Models and 4 Special Studies. Part 2 of the paper describes in detail a process for selecting the best set of projects within limited funding constraints using the Analytic Hierarchy Process AHP in conjunction with an Integer Linear Program ILP. The process entails three major steps 1 developing and evaluating a multi- criteria hierarchy 2 determining the relative value of each potential project using the AHP method, where the relative values of priorities are based on factors such as urgency, affordability, payoff, and feasibility and 3 selecting the best projects using ILP. The decision process presented in this paper is a unique application of operations research decision theory which could be tailored to many decision-making tradeoffs that the DoD faces. A spin-off of this effort could be a useful tool for program management problems that transcend cost research planning.
- Administration and Management
- Economics and Cost Analysis
- Statistics and Probability