| dc.description.abstract | Business organizations encountering decision making problems find difficulties in balancing between their goals: both maximizing profits and minimizing costs despite the limitation of available resources, which demonstrates that making decisions on selection problems is art of science. Owing to the complexity of the selection problems, the innovation of solving approaches and methods are indispensable. This paper aims to investigate towards a project selection model generated by the Analytic Network Process (ANP) with the analysis of four merits: Benefits, Opportunities, Costs and Risks (BOCR) in the specific field of construction. While ANP framework enables the interdependent relations (feedbacks) among elements within a cluster (inner dependence) and among different clusters (outer dependence) of a non-linear project selection models, the analysis of BOCR fosters the selection to be completely assessed based on four merits including benefits, opportunities, costs and risks. Furthermore, this paper mentions Thai Hung Thinh Corporation as a case study implementing the recommended framework as a solid evidence of the validity of the proposed project selection model.
Keywords: decision making, project selection, construction project, Analytic Network Process (ANP), BOCR. | en_US |
