SSION NALS COLUMN DACE YOUNG PROFESSIONALS COLUMN DACE YOUNG PROFESSIONALS COLUMN DACE Y During this research, following an extensive literature review and exploratory research, the following framework was developed. Prioritizing can be seen as a decision-making process at a broader level, wherein asset managers, project managers, and reliability engineers come together and collectively agree on the organization’s priorities. I carried out a research, wherein I developed a framework for organizations to prioritize their projects. This tool helps them in decision making leading to a prioritized list or a ranked list of projects to execute. However, the scope of this research was limited to infrastructure industry and aviation domain within it. During this research, following an extensive literature review and exploratory research the following framework was developed. In the first level, projects are identified, and it makes sure all the considered projects come with complete information. The second level is of evaluation and scoring, here using rational decisionmaking methods like Multi criteria decision analysis, managers score the projects on a common scale. This level will already generate a list of projects in order of priority from 1 to n (n= number of projects put into the framework). Now comes the last but not the least, the Third level. Following a data-driven prioritized ranking list, as an outcome of some quantitative analysis is easier said than done. Organizations and people are dynamic; hence it often becomes hard to form a coalition or majority in opinions just based on rational decision-making styles. The third filter offers flexibility to adjust the outcomes by some degree as long as the stakeholders form a coalition. A simulation experiment was carried out to validate this framework, within an organization by considering 6 of its maintenance and replacement projects in the project portfolio. In first part participants (managers and engineers) were invited to ‘score and rank projects’ and in the second part an expert-panel review was carried out. Some of the key points that came up as suggestions were, ‘Clear description of criteria for scoring’, ‘an option to show if a project has been already postponed previously’, and ‘process rules for the third level’. Some of these suggestions were incorporated in the framework. Now going back to the question, I asked in the beginning, there can be many outcomes based on our priority and situation at that particular time. We will choose the seat, if our priority is reaching somewhere on time and we are alone on the road, we will choose the breaks if we have ‘safety’ as our KPI. There can be other answers too, it depends on who is answering and what resources they have at a particular point. 00:15
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