Romualdas Ginevičius

Evaluating the alternative solutions of wall insulation by multicriteria methods

Abstract The economic effect of buildings’ renovation largely depends on implementation of energy saving methods and devices. A very high economic effect is achieved by wall insulation. In this respect, it is even higher than the replacement of windows. The alternative solutions of wall insulation of buildings differ in the materials used, labour expenditure and other aspects. The cost of renovation depends on the solutions made. The criteria describing the available wall insulation alternatives may have different values. Moreover, they may change in different directions, i.e. a higher value of some criteria denotes a better state, while for others they mean a worse situation. In this environment, a compromise variant is required, which can be found by multicriteria evaluation methods. To reduce the effect of various methods on calculation results, it can be recommended to assess the object (or phenomenon) considered by several different methods, with a subsequent determination of the average estimate val...

Evaluating the changes in economic and social development of Lithuanian counties by multiple criteria methods

Abstract Under the conditions of the countrys economy restructurization, the differences between economic and social development of various regions are becoming more prominent. To smooth these differences, a number of scientific and practical problems associated with the concepts of a region, regional policy and its aims, determination of the boundaries of a region and evaluation of its development, etc., should be thoroughly investigated. To solve such complicated problems, multicriteria evaluation methods have been recently used, which could take into consideration the major aspects of economic and social development of the regions, including the environmental problems, as well as multidimensional character of the criteria, different directions of their changing and significances. Quantitative evaluation of social and economic regions development allows us to determine the changes, taking place in this development. This, in turn, shows the effectiveness of the EU structural funds, national programmes ...

Evaluating the effect of state aid to business by multicriteria methods

One of the forms of state intervention in market development is state aid (subsidies) to private sector enterprises. Over the period of 2004--2006, a great part of the EU aid was granted to business in Lithuania through the EU structural funds. State aid is a complicated phenomenon. It may have several aims, with none of them being dominant. The effects of this aid may also be varied and hardly described by a single criterion or indicator. Therefore, multiple criteria evaluation methods can be used to compare the aid to various businesses and to determine its effect on their development objectively. The analysis of state subsidies to enterprises based on these methods allowed us to state that the aid had the greatest effect on the development of projects in the areas of production, research, experiments and education. The most influencing factor is aid intensity (the more intensive the aid, the greater the effect), while the best ratios of investments to the effect obtained was found in the area of educational projects, followed by research, experimental and production projects. The aid to enterprises providing services was the least effective. The results obtained in multicriteria evaluation of state aid to business show that these methods are well suited to the analysis of this phenomenon, providing an objective view of the picture.

Normalization of quantities of various dimensions

Currently used methods of multiple criteria evaluation (MEM) based on the values obtained allow us to establish the priority order of the considered objects alternatives. However, they do not allow us to determine the values of multicriteria evaluation of a particular alternative taken out of their context. This restricts the range of MEM applications. To expand the application area of the methods, we should know how the criteria of a particular alternative describing the object considered which are expressed in different dimensions, can be normalized. This can be achieved by dividing any different value by the respective quantity of the same dimension. The task is complicated by the fact that these quantities should be comparable for all the criteria.

MULTICRITERIA EVALUATION OF LITHUANIAN BANKS FROM THE PERSPECTIVE OF THEIR RELIABILITY FOR CLIENTS

In recent years, efforts have been made to rank banks according to their reliability. However, the methods used for this purpose are not accurate. The analysis shows that reliability of banks is a complex phenomenon which can only be described by a set of criteria. The task is complicated by the fact that the criteria used have various dimensions as well as being oppositely directed. To solve the above problems, multicriteria evaluation methods, allowing the values of all the criteria of different dimensions and changeability to be integrated into a single generalized quantity, may be used.

Multicriteria graphical‐analytical evaluation of the financial state of construction enterprises

Abstract Complex evaluation of the effectiveness of financial activities of construction enterprises may be made by multicriteria methods. As a result of calculations, the priority order of the considered objects can be established. A more thorough analysis reveals that the above methods do not take into consideration the effect of the components of a particular evaluation method on the result obtained. This can be achieved only if multicriteria evaluation is based on graphical‐analytical approach. In this case, the reasons why some of the compared alternatives get lower ranks than others can be clearly demonstrated and some effective measures can be provided for improving the situation.

Robustness in regional development studies: the case of Lithuania

The definition of robustness in econometrics, the error term in a linear equation, was not only broadened, but, in addition, moved to the meaning of common language: from a cardinal to a qualitative one: the most robust one, more robust than…, as robust as……, robust, weak robust, less robust than…, not robust, etc. Both interpretations are tested by an application on the Robustness in Regional Development, namely of the Lithuanian Regions. The computation of Regional Income, being an exponent of the welfare economy, is not sufficient for the measurement of the well‐being of the regional population. The well‐being economy goes farther. In the well‐being economy, each individual would have to feel good concerning material wealth, health, education, all kind of security and concerning the environment. In other words, multiple objectives have to be fulfilled. Moreover, these different multiple objectives are expressed in different units. Weights are most of the time used to equalize these different units. However, introduction of weights means also introduction of subjectivity. In order to avoid this dilemma, the internal mechanical solution of a ratio system, producing dimensionless numbers, is preferred. In addition, this outcome creates the opportunity to use also a non‐subjective reference point theory. The choice of the objectives is also non‐subjective if all stakeholders are involved, or if all possible objectives are represented. This theory, which is called MOORA (Multi‐Objective Optimization by Ratio Analysis), is applied to the different regions of Lithuania. A redistribution of income has to take place from the well‐being Lithuanian regions to the poorer regions, but under limiting conditions and for well defined and eventually controlled projects.

A NEW DETERMINING METHOD FOR THE CRITERIA WEIGHTS IN MULTICRITERIA EVALUATION

The accuracy of the results obtained by using multicriteria evaluation methods largely depends on the determination of the criteria weights. The accuracy of expert evaluation decreases with the increase of the number of criteria. The application of the analytic hierarchy process, based on pairwise comparison of the criteria, or similar methods, may help to solve this problem. However, if the number of the pairs of criteria is large, the same problems, associated with the accuracy of evaluation, arise. In the present paper, a new method of determining the criteria weights, FARE (Factor Relationship), based on the relationships between all the criteria describing the phenomenon considered, is offered. It means that, at the first stage, a minimal amount of the initial data about the relationships between a part of the set of criteria, as well as their strength and direction, is elicited from experts. Then, based on the conditions of functioning and the specific features of the complete set of criteria, the relations between other criteria of the set and their direction are determined analytically in compliance with those established at the first stage. When the total impact of each particular criterion on other criteria of the set or its total dependence on other criteria of a particular set is known, the criteria weights can be determined.

Selection of the optimal real estate investment project basing on multiple criteria evaluation using stochastic dimensions

As investment in real estate has great influence on regional economics development it is important to evaluate real estate investment processes as a whole. For this purpose the model of real estate projects’ efficiency evaluation was developed and presented in this article. The proposed model is designed for alternative projects, variants selection, investment resources allocation as well as real estate value maintenance and enhancement problems solution. The model of real estate projects’ efficiency evaluation covers all the investment decision‐making cycle, the hierarchically‐structured projects’ evaluation criteria system, risk evaluation basing on stochastic dimensions as well as the mathematical methods adaptation for multiple criteria evaluation problems solution, risk assessment and adjusted mathematical methods is presented in this issue.

Analysis of organizational culture dimensions impacting performance

The paper reveals multidimensional nature of organizational culture. When investigating its influence on success only performance influencing dimensions must be under consideration. The authors suggest the ways for reducing their number: content analysis and hierarchical structuring method. The system (list) of dimensions was formed by using the mentioned methods. Questionnaire was made. Relationship between dimensions and their influence on performance was tested.