Decision support system for investment project selection using multi criteria approach the case of ministry of planning and national development
Project evaluation and selection literature succinctly exhibits deficiencies on adequate treatment of multiple, often interrelated criteria, inability to recognize and treat nonmonetary aspects of project management evaluation and selection of projects. This study, describes and adopts a systems approach to the project selection problem and culminate by designing a Decision Support System (DSS) for project selection using a multiple-criteria approach. The DSS is two phased: a) Appraisal phase that uses the Ideal Profile Method and b) Project selection phase that uses heuristics that are governed by the decision- . maker's judgment and influences The DSS has a database that will contain the project details, factors considered in the selection process, objectives pursued during the selection process It also allows for expansion to include additional information like the prioritization criteria to that the ministry follows in ranking its proposed projects and ongoing projects. The study establishes that though factors and objectives are considered in the project selection process, no evidence was obtained to show a terse procedure of how this is done instead they are used to justify the project and give the investments priorities that form the basis of ranking the projects. The DSS suggested in this study assists in alleviating this by instituting clarity in the selection process and giving an audit trail that improves on transparency and ,accountability.