This page has only limited features, please log in for full access.
Nomeda Dobrovolskienė; Anastasija Pozniak. Simple Additive Weighting versus Technique for Order Preference by Similarity to an Ideal Solution: which method is better suited for assessing the sustainability of a real estate project. Entrepreneurship and Sustainability Issues 2021, 8, 180 -196.
AMA StyleNomeda Dobrovolskienė, Anastasija Pozniak. Simple Additive Weighting versus Technique for Order Preference by Similarity to an Ideal Solution: which method is better suited for assessing the sustainability of a real estate project. Entrepreneurship and Sustainability Issues. 2021; 8 (4):180-196.
Chicago/Turabian StyleNomeda Dobrovolskienė; Anastasija Pozniak. 2021. "Simple Additive Weighting versus Technique for Order Preference by Similarity to an Ideal Solution: which method is better suited for assessing the sustainability of a real estate project." Entrepreneurship and Sustainability Issues 8, no. 4: 180-196.
Today, sustainability, sustainable development and clean environment come to the fore worldwide. Consequently, the concept of sustainability has been introduced in project management. Sustainability issues have gained particular attention in the real estate sector. However, despite the fact that this sector has a huge impact on the environment and society, real estate projects are most commonly chosen taking into account only their risk and return, and a very limited number of indices and methods are available to assess their sustainability. Moreover, all of the existing indices and models for assessing the sustainability of an investment project take into account only three dimensions of sustainability—environmental, social and economic. Therefore, the novelty of this work lies in constructing a real estate sustainability index (RESI) relying on an additional sustainability aspect—i.e., a technological dimension. The developed sustainability index could be useful in evaluating and comparing real estate projects. It would also promote technological progress and investments in new technologies within projects as sustainability is also considered in a new, technological dimension. A research study was carried out between September 2020 and December 2020. Following an analysis of the literature and different sustainability-related standards relevant for the real estate industry, sustainability criteria were chosen and then grouped into four (environmental, social, economic and technological) categories. The selection and ranking of the most relevant sustainability criteria were performed through a survey. The index was compiled by applying multi-criteria decision making methods.
Nomeda Dobrovolskienė; Anastasija Pozniak; Manuela Tvaronavičienė. Assessment of the Sustainability of a Real Estate Project Using Multi-Criteria Decision Making. Sustainability 2021, 13, 4352 .
AMA StyleNomeda Dobrovolskienė, Anastasija Pozniak, Manuela Tvaronavičienė. Assessment of the Sustainability of a Real Estate Project Using Multi-Criteria Decision Making. Sustainability. 2021; 13 (8):4352.
Chicago/Turabian StyleNomeda Dobrovolskienė; Anastasija Pozniak; Manuela Tvaronavičienė. 2021. "Assessment of the Sustainability of a Real Estate Project Using Multi-Criteria Decision Making." Sustainability 13, no. 8: 4352.
Increasing interest in the incorporation of sustainability concerns at different levels of the decision-making process has taken place over the years. This means that firm activity should not be exclusively driven by economic objectives, but also take into account both environmental demands and social needs. It is widely known that business projects are one of the most effective ways to promote change in organizations. For this reason, business projects in the real estate industry are of great importance for countries’ economies, namely due to the significant impact that the real estate sector has on the environment and the society. This paper sought to develop a composite sustainability index for real estate projects by using multiple criteria decision making (MCDM) methods. After validation, the practical application of our index ranked environmental criteria in first place. These were followed by social criteria and then economic criteria. The results also reveal that the involvement of additional stakeholders can affect the structure of the composite index. Advantages, shortcomings and managerial implications of our proposal are also discussed.
Nomeda Dobrovolskienė; Rima Tamošiūnienė; Audrius Banaitis; Fernando Ferreira; Nerija Banaitiene; Kamilė Taujanskaitė; Ieva Meidutė-Kavaliauskienė. Developing a composite sustainability index for real estate projects using multiple criteria decision making. Operational Research 2017, 19, 617 -635.
AMA StyleNomeda Dobrovolskienė, Rima Tamošiūnienė, Audrius Banaitis, Fernando Ferreira, Nerija Banaitiene, Kamilė Taujanskaitė, Ieva Meidutė-Kavaliauskienė. Developing a composite sustainability index for real estate projects using multiple criteria decision making. Operational Research. 2017; 19 (3):617-635.
Chicago/Turabian StyleNomeda Dobrovolskienė; Rima Tamošiūnienė; Audrius Banaitis; Fernando Ferreira; Nerija Banaitiene; Kamilė Taujanskaitė; Ieva Meidutė-Kavaliauskienė. 2017. "Developing a composite sustainability index for real estate projects using multiple criteria decision making." Operational Research 19, no. 3: 617-635.
Nomeda Dobrovolskienė; Manuela Tvaronavičienė; Rima Tamošiūnienė. Tackling projects on sustainability: a Lithuanian case study. Entrepreneurship and Sustainability Issues 2017, 4, 477 -488.
AMA StyleNomeda Dobrovolskienė, Manuela Tvaronavičienė, Rima Tamošiūnienė. Tackling projects on sustainability: a Lithuanian case study. Entrepreneurship and Sustainability Issues. 2017; 4 (4):477-488.
Chicago/Turabian StyleNomeda Dobrovolskienė; Manuela Tvaronavičienė; Rima Tamošiūnienė. 2017. "Tackling projects on sustainability: a Lithuanian case study." Entrepreneurship and Sustainability Issues 4, no. 4: 477-488.
Various non-economic factors, like social, cultural, psychologic and others strongly affect the decision-making related to the management of personal consumption expenditure (PCE) in households and often compromise its efficiency. PCE management tools and methods currently used by households are not helpful either as rational distribution of funds among the purchases is usually out of their scope. Therefore, rational use of resources still remains a challenging task for many households. The goal of this study is to analyse the PCE management process in households and the obstacles preventing its efficiency. Methods used in the article comprise: comparative and critical analysis methods; vector analysis tools. The paper identifies shortcomings of currently used PCE management methods and tools and introduces a system of quantitative criteria enabling objective evaluation of consumption alternatives. The use of quantitative criteria limits the influence of subjective, non-economic factors on consumption-related resource management in households and can positively affect its efficiency. The criteria are justified theoretically and the benefits from their use demonstrated with some practical evidence.
Kamilė TAUJANSKAITĖ; Eugenijus Milčius; Nomeda Dobrovolskienė. USE OF QUANTITATIVE CRITERIA IN THE MANAGEMENT OF PERSONAL CONSUMPTION EXPENDITURE: CHALLENGES AND OPPORTUNITIES. Journal of Business Economics and Management 2017, 18, 468 -486.
AMA StyleKamilė TAUJANSKAITĖ, Eugenijus Milčius, Nomeda Dobrovolskienė. USE OF QUANTITATIVE CRITERIA IN THE MANAGEMENT OF PERSONAL CONSUMPTION EXPENDITURE: CHALLENGES AND OPPORTUNITIES. Journal of Business Economics and Management. 2017; 18 (3):468-486.
Chicago/Turabian StyleKamilė TAUJANSKAITĖ; Eugenijus Milčius; Nomeda Dobrovolskienė. 2017. "USE OF QUANTITATIVE CRITERIA IN THE MANAGEMENT OF PERSONAL CONSUMPTION EXPENDITURE: CHALLENGES AND OPPORTUNITIES." Journal of Business Economics and Management 18, no. 3: 468-486.
Modern portfolio theory attempts to maximize the expected return of a portfolio for a given level of portfolio risk, or equivalently minimize risk for a given level of expected return. The reality, however, shows that, when selecting projects to a portfolio and allocating resources in the portfolio, an increasing number of organizations take into account other aspects as well. As a result of the sole purpose (risk-return), it offers only a partial solution for a sustainable organization. Existing project portfolio selection and resource allocation methods and models do not consider sustainability. Therefore, the aim of this article is to develop a sustainability-oriented model of financial resource allocation in a project portfolio by integrating a composite sustainability index of a project into Markowitz’s classical risk-return scheme (mean-variance model). The model was developed by applying multi-criteria decision-making methods. The practicability of the model was tested by an empirical study in a selected construction company. The proposed sustainability-oriented financial resource allocation model could be used in allocating financial resources in any type of business. The use of the model would not only help organisations to manage risk and achieve higher return but would also allow carrying out sustainable projects, thereby promoting greater environmental responsibility and giving more consideration to the wellbeing of future generations. Moreover, the model allows quantifying the impact of the integration of sustainability into financial resource allocation on the return of a portfolio.
Nomeda Dobrovolskienė; Rima Tamošiūnienė. Sustainability-Oriented Financial Resource Allocation in a Project Portfolio through Multi-Criteria Decision-Making. Sustainability 2016, 8, 485 .
AMA StyleNomeda Dobrovolskienė, Rima Tamošiūnienė. Sustainability-Oriented Financial Resource Allocation in a Project Portfolio through Multi-Criteria Decision-Making. Sustainability. 2016; 8 (5):485.
Chicago/Turabian StyleNomeda Dobrovolskienė; Rima Tamošiūnienė. 2016. "Sustainability-Oriented Financial Resource Allocation in a Project Portfolio through Multi-Criteria Decision-Making." Sustainability 8, no. 5: 485.
The continuous growth of the world population, resource scarcity and the threat of climate change pose numerous environmental and social problems to the world. Therefore, much hope is put in the concept of sustainability. Companies are increasingly coming under strong global pressure to incorporate sustainability considerations into their project decision-making process. Business projects in the construction industry are among the most important, as this sector is one of the largest sectors and of major importance for the national economy and therefore has a huge impact on the environment and society. Thus, we have to explore ways to integrate sustainability into the management of those projects. This paper presents a composite sustainability index of a project (CSIP) which has been created following a review of existing literature and a pilot research study. A pilot research study was conducted in the Lithuanian construction industry between January 2015 and June 2015. Sustainability criteria were chosen and grouped on the basis of the analysis of the literature and different standards relating to sustainability applicable in the construction industry. A survey was used to select and rank the most important sustainability criteria. The index was constructed using multi-criteria decision-making methods. The results of the pilot study revealed that practitioners in the Lithuanian construction sector attach most importance to 15 sustainability criteria. A composite sustainability index of a project combining all these criteria may be useful in assessing the sustainability of a business project and making decisions regarding project portfolio selection and financial resource allocation. When addressing the issue of financial resource allocation in a project portfolio, the decision-maker could take into account not only the project’s return and risk, but also its sustainability. The understanding of this study should enable companies to execute sustainable projects, which could make a contribution to the sustainable development of organizations and thereby increase their competitive advantage.
Nomeda Dobrovolskienė; Rima Tamošiūnienė. An Index to Measure Sustainability of a Business Project in the Construction Industry: Lithuanian Case. Sustainability 2015, 8, 14 .
AMA StyleNomeda Dobrovolskienė, Rima Tamošiūnienė. An Index to Measure Sustainability of a Business Project in the Construction Industry: Lithuanian Case. Sustainability. 2015; 8 (1):14.
Chicago/Turabian StyleNomeda Dobrovolskienė; Rima Tamošiūnienė. 2015. "An Index to Measure Sustainability of a Business Project in the Construction Industry: Lithuanian Case." Sustainability 8, no. 1: 14.
Resource allocation in a project portfolio is a complex decision-making process that is influenced by multiple and very often conflicting objectives. Furthermore, companies are coming under strong social pressure to integrate elements of sustainability into their decision-making process, which makes this process even more complex. Nowadays, the concept of sustainability is widely applied by many companies through their mission statement and strategy. It is also one of the most popular research fields for scholars. Despite the fact that sustainability is considered one of the most important challenges of our time, the integration of sustainability into project or project portfolio management (especially in resource allocation) is not fully recognised. This paper presents a literature-based analysis of the use of the sustainability concept in project management and therefore makes suggestions on how to integrate sustainability into resource allocation in a project portfolio.
Nomeda Dobrovolskienė; Rima Tamošiūnienė. Financial Resource Allocation in a Project Portfolio: Analysing the Necessity to Integrate Sustainability into Resource Allocation. Annals of the Alexandru Ioan Cuza University - Economics 2015, 62, 369 -382.
AMA StyleNomeda Dobrovolskienė, Rima Tamošiūnienė. Financial Resource Allocation in a Project Portfolio: Analysing the Necessity to Integrate Sustainability into Resource Allocation. Annals of the Alexandru Ioan Cuza University - Economics. 2015; 62 (3):369-382.
Chicago/Turabian StyleNomeda Dobrovolskienė; Rima Tamošiūnienė. 2015. "Financial Resource Allocation in a Project Portfolio: Analysing the Necessity to Integrate Sustainability into Resource Allocation." Annals of the Alexandru Ioan Cuza University - Economics 62, no. 3: 369-382.