Multi-criteria performance management methodology for decision support in industrial project selection problems

Selecting the most adapted alternative for a new project is a challenging problem because it contains a lot of uncertainty due to lack of information. Moreover, better decision making processes still need to be proposed to help decision makers to select the most effective solution among several alternatives. Although different methods and tools have been developed for this purpose, there is still room for improvement. Therefore, the objective of this paper is to develop a methodology that provides the decision makers with comprehensive and accurate performance expressions for decision support in project selection problems. The proposed methodology consists of three main phases: performance criteria identification, performance quantification and aggregation based on the following performance dimensions: benefit, cost, value and risk.