Vinod Lall and Ruth Lumb, both School of Business, and Abel Moreno, Metropolitan State College of Denver, had a paper published in Indian Journal of Economics & Business, (August 2012), Vol . 11, No.2, pages 359-372.
The paper, titled “Selection and Prioritization of Projects- A Data Envelopment Analysis (DEA) Approach” addresses the challenge that an organization with limited resources faces when it has multiple projects to be initiated. Organizations often lack a methodology that would select and prioritize projects that compete for these limited resources. This research shows how the Data Envelopment Analysis (DEA) approach can be used for the selection and prioritization of projects. Published research was used to identify factors used in the selection of projects, factors were classified into inputs and outputs and a DEA model was developed and solved for each project. Results from the solved DEA models were analyzed to identify highly efficient projects and recommendations were made on how to improve inefficient projects.