What is it about?
We show how adopting a two-stage multi-criteria analysis (MCA) can improve the implementation potential of a strategic investment project. In a first stage, the project alternatives are weighted and prioritised in terms of each separate stakeholder’s objectives, based on ‘partial' MCAs. In the second stage, the preferences of all stakeholders are bundled. A distinctive feature of our approach is that implicit feedback loops are generated and that projects may be ‘redesigned’ to reduce the gap between diverging stakeholder preferences (in particular between the societal preferences and stakeholder-specific ones).
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Why is it important?
The feedback loops and the process of project redesign will improve alignment of stakeholder-specific project rankings. In turn, such improved alignment will increase the probability of ‘consensus projects' effectively contributing to societal objectives, while being supported by most or all stakeholder groups involved. With our two-stage MCA procedure, positive ‘momentum’ towards consensus is generated. The probability of effective project implementation increases significantly, thereby serving public policy or societal objectives.
Perspectives
It was a true privilege to craft this article with my co-authors, both of whom are world-class scholars. We built this piece upon the outcomes of a large-scale European research project. We benefited from the insight of many long-term research partners operating in industry and academia, and representing all areas of the European Union.
Professor Klaas De Brucker
Katholieke Universiteit Leuven
Read the Original
This page is a summary of: Two-stage multi-criteria analysis and the future of intelligent transport systems-based safety innovation projects, IET Intelligent Transport Systems, November 2015, the Institution of Engineering and Technology (the IET),
DOI: 10.1049/iet-its.2014.0247.
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