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Fuzzy Goal Programming Model to Rolling Performance Based Budgeting by Productivity Approach (Case Study: Gas Refineries in Iran)

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Kalantari, N, Pour, RM, Seidi, M, Shiri, A and Azizkhani, M ORCID: 0000-0003-1752-3345 2018 , 'Fuzzy Goal Programming Model to Rolling Performance Based Budgeting by Productivity Approach (Case Study: Gas Refineries in Iran)' , Advances in Mathematical Finance and Applications, vol. 3, no. 3 , pp. 95-107 , doi: 10.22034/amfa.2018.544952.

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Abstract

This research presents a mathematical model for performance-based budgetingand combines it with rolling budget for increased flexibility. The model has beendesigned by Chebyshev's goal programming technique with fuzzy approach. Theparameters or coefficients of the model are derived by measuring the productivityof the organizations considering eight criteria. Data for calculating productivityindicators were collected from gas refineries of Iran in 2011–2015 and analysedby Excel and GAMS software. Then, the model was tested for determining the2016 budget of those refineries. The model was solved by LINGO software bylinking it to Excel. The solution of the model reduced 0.68% of the total refinery'sbudget compared with the actual budgets for 2016, which is higher than the annual budget of some of the companies in this group.

Item Type: Article
Authors/Creators:Kalantari, N and Pour, RM and Seidi, M and Shiri, A and Azizkhani, M
Keywords: Performance-based budgeting, rolling budget, Fuzzy gal programming
Journal or Publication Title: Advances in Mathematical Finance and Applications
Publisher: IA University of Arak, Iran
ISSN: 2538-5569
DOI / ID Number: 10.22034/amfa.2018.544952
Copyright Information:

© 2018. All rights reserved

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