| Title |
Development of MCDM for the Selection of Preferable Alternative and Determination of Investment Priority in Water Resource Projects |
| Keywords |
preferable alternative;investment priority;multi-criteria decision making(MCDM);weights;utility function;최적대안;투자우선순위;다기준의사결정;가중치;효용함수 |
| 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. |