Multi-criteria decision making and project portfolio management for transport infrastructure investment in Thailand
by Panasin Chungsawanant; Parames Chutima; Chaipong Pongpanich
International Journal of Process Management and Benchmarking (IJPMB), Vol. 13, No. 1, 2023

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.

Online publication date: Wed, 21-Dec-2022

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