Presenting the case for the application of multi-criteria analysis to mega transport infrastructure project appraisal

Harry T. Dimitriou, E. John Ward and Marco Dean

Research in Transportation Economics, 2016, vol. 58, issue C, 7-20

Abstract: The paper commences with an overview of mega transport infrastructure decision-making as it relates to the megaproject development cycle and challenges of sustainable development, which are increasingly redefining the criterion for the evaluation of project success. The body of the paper presents a brief critique of various appraisal applications to mega transport infrastructure projects, including: Social Cost Benefit Analysis; Cost Effectiveness Analysis; Goal Achievement Matrix Methods and the Planning Balance Sheet, highlighting the merits and demerits of the outlined approaches. Here particular reference is made to the power of context on decision-making and other lessons from OMEGA Centre research. These include, most importantly, the treatment of risk, uncertainty and complexity of developments outside of the project and the challenges of meeting multiple stakeholder aspirations/needs thereby building up the case for the introduction and use of multi-criteria analysis and policy-led multi-criteria analysis to the appraisal of Mega Transport Projects.

Keywords: Project appraisal; Challenges of sustainable development; Social cost benefit analysis; Multiple criteria analysis (search for similar items in EconPapers)
JEL-codes: D61 D63 R4 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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DOI: 10.1016/j.retrec.2016.08.002

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