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http://dx.doi.org/10.12652/Ksce.2011.31.6B.551

Development of MCDM for the Selection of Preferable Alternative and Determination of Investment Priority in Water Resource Projects  

Yeo, Kyudong (인하대학교 수자원시스템연구소)
Kim, Gilho (인하대학교 대학원 토목공학과)
Lee, Sangwon (인하대학교 경제학부)
Choi, Seungan (한국개발연구원 공공투자관리센터)
Publication Information
KSCE Journal of Civil and Environmental Engineering Research / v.31, no.6B, 2011 , pp. 551-563 More about this Journal
Abstract
Water resource projects need an enormous national budget. Therefore, a reasonable and reliable decision making is required for the planning of water resource projects, but decision making has been mostly performed by economic analysis. The objective of this study is to develop a Multi-criteria Decision Making(MCDM) model which can assess the project in various aspects for the selection of preferable alternative and determination of investment priority in water resource projects. In this study, the criteria involves economic feasibility, policies, vulnerability, and sub-items which have weights obtained from the expert survey for the consistent evaluation. We also derived the utility function considering risk trend of each item based on the expert survey. Then, the total score was estimated by weights of each item and utility score of each attribute. The results show that vulnerability is a major contributor for the criteria. This study will contribute to the selection of proper water resource projects considering efficiency of project and fairness for vulnerable area.
Keywords
preferable alternative; investment priority; multi-criteria decision making(MCDM); weights; utility function;
Citations & Related Records
Times Cited By KSCI : 5  (Citation Analysis)
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