Paper Info
Title
Portfolio decision analysis methods in environmental decision making.
Abstract
Environmental modellers recurrently work with decisions where a portfolio of actions has to be formed to effectively address the overall situation at hand. When creating the portfolio, one needs to consider multiple objectives and constraints, identify promising action candidates and examine interactions among them. The area of portfolio decision analysis deals with such tasks. This paper reviews portfolio modelling approaches and software that are applicable in environmental management. A framework for environmental portfolio decision analysis is provided that consists of steps ranging from problem framing to modelling and optimization, as well as to the analysis of results. The use of this framework is demonstrated with an illustrative case describing planning of urban water services. The problem is analyzed with a recently introduced portfolio decision analysis method called Robust Portfolio Modelling, which enables the use of incomplete preference information and consequence data. This feature can be particularly useful in environmental applications.
Year
DOI
Venue
2017
10.1016/j.envsoft.2017.04.001
Environmental Modelling & Software
Keywords
Field
DocType
Portfolio,Multi-criteria decision analysis,Environmental decision making,Resource allocation,Problem structuring,Modern portfolio theory
Decision analysis,Multiple-criteria decision analysis,Application portfolio management,Computer science,Modern portfolio theory,Portfolio,Resource allocation,Water industry,Frame problem,Management science
Journal
Volume
ISSN
Citations 
94
1364-8152
4
PageRank 
References 
Authors
0.41
22
3
Name
Order
Citations
PageRank
Tuomas J. Lahtinen1161.36
Raimo P. Hämäläinen242146.57
Juuso Liesiö322513.80