Comparative analysis of multi-criteria decision making methods in choosing contract type for highway construction in Greece

Fani Antoniou and Georgios N. Aretoulis

International Journal of Management and Decision Making, 2018, vol. 17, issue 1, 1-28

Abstract: How to compensate highway construction contractors is a complex decision that should be taken based on scientific evidence. Four different multi-criteria decision making methods, i.e., the multi-attribute utility theory, the technique for order preference by similarity to ideal situation, the preference ranking organisation method for enriched evaluation (PROMETHEE) and the PROMETHEE group decision support system method were applied to two case study projects with different characteristics and awarding authorities' (AAs') needs in order to choose between seven different contract type based on nine selection criteria. The results highlight the need to establish the availability of new CTs in the public works law in Greece and showed that all methods have the potential to become decision support systems that can be employed for improving objectivity in this decision making process as if the project characteristics and AA's needs are properly defined at the onset.

Keywords: multi-criteria decision making; MCDM; TOPSIS; utility theory; PROMETHEE; group decisions; highways; contracts; public service; Greece. (search for similar items in EconPapers)
Date: 2018
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