Multi-criteria decision making and project portfolio management for transport infrastructure investment in Thailand

Panasin Chungsawanant, Parames Chutima and Chaipong Pongpanich

International Journal of Process Management and Benchmarking, 2023, vol. 13, issue 1, 47-72

Abstract: Transport project selection is always critical in government planning due to limited resources and diverse demands. Project portfolio management (PPM) was proposed in this study to suggest an optimal set of projects under predetermined constraints. With multiple conflicting criteria, comprehensive steps of multi-criteria decision making (MCDM) procedures were proposed in this study. The process begins with a step of pre-screening the projects and selecting the criteria for project evaluation. Sequential steps of: 1) weight determination process using the proportion method; 2) MCDM process using preference ranking organisation method for enrichment evaluations (PROMETHEE) II; 3) constraint consideration process using PROMETHEE V, was proposed to evaluate and select an optimal project portfolio. The study showed that decision making could be successfully done for the transport infrastructure investment with minimal complex calculation steps and questionnaire input from experts.

Keywords: decision making; multi-criteria decision making; MCDM; portfolio management; proportion method; Thailand; transport infrastructure; transport project evaluation; PROMETHEE. (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=127882 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijpmbe:v:13:y:2023:i:1:p:47-72

Access Statistics for this article

More articles in International Journal of Process Management and Benchmarking from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().