Qualitative approach and decision- making procedures for selecting BOT and BOO projects based on the risk in the water and wastewater industry

فصلنامه آب و توسعه پایدار

Article 4, Volume 1, Issue 3, March 2015, Pages 17-26   

Document Type: review paper

DOI: 10.22067/jwsd.v1i3.46705

Authors

Reza Shahrjerdi1¹; maryam Raoufinia²; seyedhossein sajadifar^{* 3}; abdorreza Khalili⁴

¹Markazi Province Water and Wastewater Company

²Azad University, Tehran Shomal

³sharyar azad university

⁴Markazi Province Water and Wastewater Company,

Abstract

One of the most important strategies for governments to increase the efficiency of different economic sectors, including public services such as water, is to protect and strengthen the private sector. BOT and BOO contracts are among the most common and popular procedures of development of participation and investment from private sector. In this context, providing a good basis for the selection of investment projects using a powerful tool in order to improve the product quality and creating a qualitative customer-driven system (Quality Function Development) is very important. Therefore, the use of multi-criteria decision-making techniques, such as the similarity of the ideal options is necessary to choose the ideal investment. In this paper, a new method proposed to solve the problem of selection of investment projects by employing a powerful tool to improve product quality (Fuzzy Quality Function Deployment (F(QFD)) and Fuzzy multi-criteria decision making techniques (FTOPSIS) and then by considering the factors of risk and their impact on four important factors of the projects including: time, cost, scope and quality. Consequently, FQFD was used to calculate the weight of each risk factor, and then they were ranked by FTOPSIS algorithm based on the development of infrastructure projects and assets. Subsequently, we show through a case study of the proposed method.

Keywords

Build-Operate-Transfer; project risk management; similarity to the fuzzy ideal option model; fuzzy quality function development

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