Students: Dissertation: Toryos Pandejpong

Toryos Pandejpong

ABSTRACT
Technology selection in the petrochemical industry is a high-risk activity due to the high investment outlays, and length of the projects. One would expect that numerous methodologies would be available and widely used for the evaluation and selection processes to increase the chance of choosing the best projects available. However, technology selection in most companies is incomplete and difficult to convert to action.

This dissertation proposes an interactive decision-support model that will improve the existing project evaluation and selection practice in the petrochemical industry. Through the assistance of an expert panel, the AHP (Analytical Hierarchy Process) approach is used to determine the relative impacts of various technology alternatives toward organization strategies and needs. The impact values can then be used to generate the best possible allocation of resources. The model deals explicitly with technology’s role in corporate strategy--the way that technology supports the corporate mission and goals. It provides a methodology to help plan technology strategy that expressly supports the critical technology decisions for success in a highly uncertain future. The prospective technologies are evaluated by the degree to which they contribute to the organization’s objectives. A specific case study has been developed for the purpose of demonstrating and validating the model.

The model should enable the organization to reach different management levels and to integrate their inputs into the technology selection process. This will bring many hidden and forgotten factors to the attention of decision-makers. In addition, decision-makers will be able to use the model to help communicate and explain the decision to either fund or deny proposed projects.

Friday, February 1, 2002
DISSERTATION COMMITTEE
Dundar Kocaoglu, Chairman
Timothy Anderson
Tugrul Daim
Dragan Milosevic
Wayne W. Wakeland
Alan R. Raedels, Graduate Studies Rep