Application of the multi attribute utility theory for the selection of project procurement system for Greek highway projects Online publication date: Thu, 14-Jul-2016
by Fani Antoniou; Dimitrios Konstantinidis; Georgios N. Aretoulis
International Journal of Management and Decision Making (IJMDM), Vol. 15, No. 2, 2016
Abstract: The selection of the appropriate procurement system (PS) for major highway projects in Greece is central to their success, as the relevant interdependent interfaces and required contracts between stakeholders are numerous and complex. The PSs investigated are traditional, traditional fast track, design and build, private-public partnership, construction management, management contracts and partnering. The relevant selection criteria that were considered refer to the project characteristics, the needs of the awarding authority and the market conditions. A questionnaire survey was carried out in order to record the performance of each PS against each selection criterion. The survey succeeded in collecting responses from 91 international highway procurement experts. The paper then evaluated the mean ratings of each PS against each alternative selection criterion. These ratings were considered as marginal utility values for use in the multi attribute utility theory method. The weights of each selection criterion are calculated using the revised Simos method, the analytical hierarchy process and goal programming. Two pilot projects in Greece were defined as case studies, for the proposed methodology to be tested. The results showed that the public-private partnership system is frequently chosen as the most appropriate PS.
Online publication date: Thu, 14-Jul-2016
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