Decision support system for project selection

Research output: Chapter in Book/Report/Conference proceedingChapter (peer-reviewed)

Abstract

The evaluation and selection of industrial projects before investment decision is customarily done using marketing, technical, and financial information. Subsequently, environmental impact assessment and social impact assessment are carried out mainly to satisfy the statutory agencies. Because of stricter environment regulations in developed and developing countries, quite often impact assessment suggests alternate sites, technologies, designs, and implementation methods as mitigating measures. This causes considerable delay to complete project feasibility analysis and selection as complete analysis requires to be taken up again and again until the statutory regulatory authority approves the project. Moreover, project analysis through the above process often results in suboptimal projects as financial analysis may eliminate better options as more environment friendly alternative will always be cost intensive. In this circumstance, this study proposes a decision support system which analyses projects with respect to market, technicalities, and social and environmental impact in an integrated framework using analytic hierarchy process, a multiple attribute decision-making technique. This not only reduces duration of project evaluation and selection, but also helps select an optimal project for the organization for sustainable development. The entire methodology has been applied to a cross-country oil pipeline project in India and its effectiveness has been demonstrated. © 2008, IGI Global.

Original languageEnglish
Title of host publicationHandbook of computational intelligence in manufacturing and production management
EditorsDipak Laha, Purnendu Mandal
Place of PublicationHershey, PA (US)
PublisherIGI Global
Pages209-226
Number of pages18
ISBN (Electronic) 978-1-5990-4584-9
ISBN (Print)978-1-5990-4582-5
DOIs
Publication statusPublished - Nov 2007

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    Dey, P. K. (2007). Decision support system for project selection. In D. Laha, & P. Mandal (Eds.), Handbook of computational intelligence in manufacturing and production management (pp. 209-226). IGI Global. https://doi.org/10.4018/978-1-59904-582-5.ch011