A Multi-attribute Decision Model to Measure Preliminary Feasibility of the Privatized Building Projects

• Published in: Architectural Research, 5(1) 2003, 5(1), , pp.37-47
• Main Author: 옥정호
• Format: Article
• Language: Korean
• Subjects: 건축공학
• ISSN: 1229-6163; 2383-5575

The Build-Operate-Transfer (BOT) mechanism is extensively used worldwide to promote diverse building projects. Success in the BOT projects mainly depends on choosing a right project to propose. However, it is very difficult to identify a preliminary feasible one at the up-front project development process due to the uncertainties involved. When choosing a probable project to propose, the developers in most cases rely on their experience, intuition, or gut feelings. It is expected that they will improve the chances of deciding a viable project to propose if the methodical formalism is provided that guides to systematically recognize the risk factors inherent in the project environment, their impact on project feasibility, and strategic alternatives to enhance them. The main objective of this research is to develop a go/no-go decision model as the formalism. Based on the review of diverse decision-making theories, the Multi-Attribute Decision Analysis Method (MADAM) is identified as a suitable theoretical methodology to developing the formalism. Fourteen BOT experts are invited to put their experience in the model development. A numerical example is presented to demonstrate the computational procedures of the model developed. KCI Citation Count: 1