Project Appraisal and Decision-making in Practice: Evidence from the Deurganckdock Case in the Port of Antwerp

2013 ◽  
Author(s):  
Chris Coeck ◽  
Toon Tessier
Keyword(s):  
Decision Making ◽  
Project Appraisal

scholarly journals Losing time for the tiger Panthera tigris: delayed action puts a globally threatened species at risk of local extinction

Oryx ◽  
2017 ◽  
Vol 52 (1) ◽  
pp. 78-88 ◽  
Author(s):  
Abishek Harihar ◽  
Mousumi Ghosh-Harihar ◽  
Douglas C. MacMillan
Keyword(s):  
Decision Making ◽  
Local Extinction ◽  
Decision Making Process ◽  
Western India ◽  
Ecological Knowledge ◽  
Panthera Tigris ◽  
Adaptive Planning ◽  
Conservation Action ◽  
Project Appraisal ◽  
Policy Agendas

AbstractMeeting global and regional environmental targets is challenging, given the multiplicity of stakeholders and their diverse and often competing policy agendas and objectives. Relatively few studies have sought to systematically analyse the progress, or lack thereof, of institutionally complex and diffuse projects. Here we analyse one such project, which aims to protect and restore a critical landscape corridor for tigers Panthera tigris in north-western India, using a temporal–analytic framework that integrates ecological information on species population status and spatial connectivity modelling with a systematic examination of the decision-making process. We find that even with adequate ecological knowledge the tiger population is on the verge of local extinction because of weak institutional support, poor adaptive planning and ineffective leadership in a complex political arena, which has led to delays in conservation action. From the outset the conservation agencies and NGOs that were the primary drivers of the project lacked awareness of the political idiosyncrasies of coordinating the actions of disparate agencies within the decision-making process. To secure better future environmental outcomes we recommend the adoption of an improved project appraisal methodology that explicitly encompasses an evaluation of organizational incentives, to determine political buy-in, including alignment with organizational objectives and funding availability.

scholarly journals Guidelines for the investment choice of capital projects by public corporations

2010 ◽  
Vol 7 (3) ◽  
pp. 407-415
Author(s):  
Wessel Pienaar
Keyword(s):  
Decision Making ◽  
Investment Decision ◽  
Decision Rules ◽  
Capital Projects ◽  
Public Corporations ◽  
Project Appraisal ◽  
Investment Choice ◽  
Long Run ◽  
Selection Of

This article provides guidelines on how public corporations can choose capital projects on the basis of economic and financial criteria. Project appraisal, selection and prioritisation criteria are listed, followed by a description of the way in which the result of each appraisal technique should be interpreted. Criteria that should be adhered to in the selection of mutually exclusive projects and the prioritisation of functionally independent projects in order to maximise the net output of public corporations in the long run are supplied. Applications of the proposed investment decision rules are illustrated by examples. Two techniques are proposed that may be used as additional decision-making instruments when evaluated projects show similar degrees of long-term financial viability.

Project appraisal and selection using the analytic network process

2007 ◽  
Vol 34 (7) ◽  
pp. 786-792 ◽  
Author(s):  
Irem Dikmen ◽  
M Talat Birgonul ◽  
Beliz Ozorhon
Keyword(s):  
Decision Making ◽  
Large Scale ◽  
Selection Process ◽  
Multicriteria Decision Making ◽  
Analytic Network Process ◽  
Project Selection ◽  
Project Appraisal ◽  
Turkish Government ◽  
Network Process ◽  
Benefit Cost

Where prioritization and selection process of large-scale construction projects is concerned, governments should consider various quantitative and qualitative criteria when choosing the best project alternative. The traditional benefit–cost (BC) analysis has some drawbacks in terms of analyzing qualitative attributes that cannot be easily expressed in monetary terms. To eliminate this limitation, multicriteria decision-making techniques are proposed for the solution of project prioritization problems. In this paper, an analytic network process (ANP) model is developed to demonstrate how the project selection process can be carried out by considering both quantitative and qualitative factors, as well as their interrelations. The decision network is grouped under four subnetworks, namely benefits, costs, opportunities, and risks. The selected alternatives are real highway projects that are in the investment agenda of the Turkish government. Using the proposed network model, four investment alternatives are assessed by a team of experts and achieved results demonstrate that the ranking of project alternatives may significantly change when the ANP model is used instead of the classical B/C approach. Key words: analytic network process (ANP), multi-criteria decision making, project selection, benefit–cost analysis.

scholarly journals Engaging Multiple Actors in Large-Scale Transport Infrastructure Project Appraisal: An Application of MAMCA to the Case of HS2 High-Speed Rail

2018 ◽  
Vol 2018 ◽  
pp. 1-22 ◽  
Author(s):  
Yannick Cornet ◽  
Merrill Jones Barradale ◽  
Henrik Gudmundsson ◽  
Michael Bruhn Barfod
Keyword(s):  
Decision Making ◽  
High Speed ◽  
Large Scale ◽  
Multicriteria Analysis ◽  
Transport Infrastructure ◽  
High Speed Rail ◽  
Appraisal Process ◽  
Project Appraisal ◽  
Wide Range ◽  
Multiple Actors

The most widespread approach to transport appraisal is to combine cost-benefit analysis (CBA) with environmental assessments and public consultations. However, large-scale transport projects such as the HS2 high-speed rail system in the UK seem to have pushed this approach beyond its limits, leading to broad discontent with the appraisal process. There is a need both to develop new methods capable of integrating a wide range of perspectives in a systematic manner and to test these for large-scale projects. Multicriteria analysis (MCA) has proven useful in supporting transport decision-making by including a broader set of criteria in the appraisal process. Multiactor multicriteria analysis (MAMCA) has extended this approach to include multiple actors and stakeholders in the judgment and decision-making process. This paper builds on the MAMCA method and demonstrates its practicability and usability by applying it to the case of HS2. The purpose of this paper is not to reach a definitive conclusion on the desirability of various project options, but to complement existing transport appraisal methods by making different perspectives explicit. For example, the results for this case show contrasting views for different groups of transport professionals: a favorable assessment of HS2 among transport planners employed in government, but an unfavorable assessment among transport researchers with a background in sustainability. In terms of contribution to the development of data collection methods, this research demonstrates the usefulness of conducting semistructured interviews in conjunction with an online questionnaire for the assessment and weighting process within MCA. Because MCA results are expressed in terms of relative desirability of projects, the approach also effectively systematizes the inclusion and assessment of multiple options. Overall, the proposed method enhances the capacity to analyze conflicting views in large-scale transport project appraisal processes.

Discarding optimality: Throwing out the baby with the bathwater?

2018 ◽  
Vol 41 ◽  
Author(s):  
Patrick Simen ◽  
Fuat Balcı
Keyword(s):  
Decision Making ◽  
Perceptual Decision Making ◽  
Reward Rate ◽  
Perceptual Decision ◽  
Standard Observer ◽  
Rate Maximization ◽  
Reward Rate Maximization ◽  
Descriptive Standard ◽  
Observer Model

AbstractRahnev & Denison (R&D) argue against normative theories and in favor of a more descriptive “standard observer model” of perceptual decision making. We agree with the authors in many respects, but we argue that optimality (specifically, reward-rate maximization) has proved demonstrably useful as a hypothesis, contrary to the authors’ claims.

LPCD framework: Analytical tool or psychological model?

2018 ◽  
Vol 41 ◽  
Author(s):  
David Danks
Keyword(s):  
Decision Making ◽  
Analytical Tool ◽  
Mathematical Framework ◽  
Bayesian Decision ◽  
Perceptual Decision Making ◽  
Psychological Model ◽  
Psychological Reality ◽  
Psychological Theories ◽  
Target Article ◽  
Bayesian Decision Making

AbstractThe target article uses a mathematical framework derived from Bayesian decision making to demonstrate suboptimal decision making but then attributes psychological reality to the framework components. Rahnev & Denison's (R&D) positive proposal thus risks ignoring plausible psychological theories that could implement complex perceptual decision making. We must be careful not to slide from success with an analytical tool to the reality of the tool components.

Elaborating the role of reflection and individual differences in the study of folk-economic beliefs

2018 ◽  
Vol 41 ◽  
Author(s):  
Kevin Arceneaux
Keyword(s):  
Decision Making ◽  
Individual Differences ◽  
Cognitive Processes ◽  
Evolutionary History ◽  
Behavioral Responses ◽  
History Of ◽  
Economic Beliefs

AbstractIntuitions guide decision-making, and looking to the evolutionary history of humans illuminates why some behavioral responses are more intuitive than others. Yet a place remains for cognitive processes to second-guess intuitive responses – that is, to be reflective – and individual differences abound in automatic, intuitive processing as well.

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