When monetarisation and ranking are not appropriate. A novel stakeholder-based appraisal method

Geert te Boveldt, Imre Keseru and Cathy Macharis

Transportation Research Part A: Policy and Practice, 2022, vol. 156, issue C, 192-205

Abstract: Although there is general consensus on the necessity of evaluation for decision support in major transport projects, there is no method that is universally accepted. Multi-criteria analysis (MCA) is often suggested as the alternative for the dominant but much-criticised (social) cost benefit analysis (CBA), especially in complex multi-stakeholder projects. The paper argues that especially in this type of projects the applicability of conventional MCA techniques is limited because they require the project to be structured as a ranking-choice problem with multiple well-defined mutually exclusive decision alternatives. This often does not suit the planning question in the strategic early project phase, which is characterised by uncertainties relating to design, preferences and impacts.

Keywords: Appraisal; Evaluation; Multi-criteria analysis; Participation; Infrastructure planning; Decision making (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (3)

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DOI: 10.1016/j.tra.2021.12.004

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