Feasibility study of industrial projects using Simos’ procedure
Feasibility study is conducted in a stage prior to design, procurement and construction stages in order to determine the viability of project undertaken by an investor. This helps investors to decide whether to proceed with the project or not. Multi-Criteria Decision Making (MCDM) process can be uti...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Vilnius Gediminas Technical University
2013-01-01
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| Series: | Journal of Civil Engineering and Management |
| Subjects: | |
| Online Access: | http://journals.vgtu.lt/index.php/JCEM/article/view/3801 |
| _version_ | 1818568353663418368 |
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| author | Mohamed Marzouk Omar Amer Moheeb El-Said |
| author_facet | Mohamed Marzouk Omar Amer Moheeb El-Said |
| author_sort | Mohamed Marzouk |
| collection | DOAJ |
| description | Feasibility study is conducted in a stage prior to design, procurement and construction stages in order to determine the viability of project undertaken by an investor. This helps investors to decide whether to proceed with the project or not. Multi-Criteria Decision Making (MCDM) process can be utilized in the feasibility study stage to avoid wrong decisions might cause undesired losses. In industrial projects, wrong decisions might lead to bankruptcy of crucial economic entities. Private investors might have good initiative and the capital to establish economically successful projects but they might either select the inappropriate type of industry that might turn the investment to a failure or might not include some important/crucial considerations into account. This paper presents a key-list of gathered factors that are considered the important factors and affect the selection of industrial projects. Importance, relative importance and weights of these factors are determined using Simos’ procedure. The key-list has been applied on five case-studies of industrial projects and a Weighted-Sum Model (WSM) has been selected as a MCDM technique in order to acquire their final preferences, rank them and consequently come-up with the most preferred/suitable alternative to be constructed. Then, a sensitivity analysis has been performed to determine the most critical criterion of the key-list. Additionally, several scenarios have been processed to verify that the most important criterion of the key-list does not necessarily be the most critical criterion. Moreover, the sensitivity analysis also determines the most critical measure of performance assembled from the five casestudies. |
| first_indexed | 2024-12-14T06:34:43Z |
| format | Article |
| id | doaj.art-2cb81ac805744dfab07ef80db724fe2e |
| institution | Directory Open Access Journal |
| issn | 1392-3730 1822-3605 |
| language | English |
| last_indexed | 2024-12-14T06:34:43Z |
| publishDate | 2013-01-01 |
| publisher | Vilnius Gediminas Technical University |
| record_format | Article |
| series | Journal of Civil Engineering and Management |
| spelling | doaj.art-2cb81ac805744dfab07ef80db724fe2e2022-12-21T23:13:24ZengVilnius Gediminas Technical UniversityJournal of Civil Engineering and Management1392-37301822-36052013-01-0119110.3846/13923730.2012.734855Feasibility study of industrial projects using Simos’ procedureMohamed Marzouk0Omar Amer1Moheeb El-Said2Department of Structural Engineering, Faculty of Engineering, Cairo University, El Gamaa St., Giza, EgyptDepartment of Structural Engineering, Faculty of Engineering, Cairo University, El Gamaa St., Giza, EgyptDepartment of Structural Engineering, Faculty of Engineering, Cairo University, El Gamaa St., Giza, EgyptFeasibility study is conducted in a stage prior to design, procurement and construction stages in order to determine the viability of project undertaken by an investor. This helps investors to decide whether to proceed with the project or not. Multi-Criteria Decision Making (MCDM) process can be utilized in the feasibility study stage to avoid wrong decisions might cause undesired losses. In industrial projects, wrong decisions might lead to bankruptcy of crucial economic entities. Private investors might have good initiative and the capital to establish economically successful projects but they might either select the inappropriate type of industry that might turn the investment to a failure or might not include some important/crucial considerations into account. This paper presents a key-list of gathered factors that are considered the important factors and affect the selection of industrial projects. Importance, relative importance and weights of these factors are determined using Simos’ procedure. The key-list has been applied on five case-studies of industrial projects and a Weighted-Sum Model (WSM) has been selected as a MCDM technique in order to acquire their final preferences, rank them and consequently come-up with the most preferred/suitable alternative to be constructed. Then, a sensitivity analysis has been performed to determine the most critical criterion of the key-list. Additionally, several scenarios have been processed to verify that the most important criterion of the key-list does not necessarily be the most critical criterion. Moreover, the sensitivity analysis also determines the most critical measure of performance assembled from the five casestudies.http://journals.vgtu.lt/index.php/JCEM/article/view/3801multi-criteria decision makingfeasibility studySimos’ procedureWeighted-Sum Modelsensitivity analysisranking techniques |
| spellingShingle | Mohamed Marzouk Omar Amer Moheeb El-Said Feasibility study of industrial projects using Simos’ procedure Journal of Civil Engineering and Management multi-criteria decision making feasibility study Simos’ procedure Weighted-Sum Model sensitivity analysis ranking techniques |
| title | Feasibility study of industrial projects using Simos’ procedure |
| title_full | Feasibility study of industrial projects using Simos’ procedure |
| title_fullStr | Feasibility study of industrial projects using Simos’ procedure |
| title_full_unstemmed | Feasibility study of industrial projects using Simos’ procedure |
| title_short | Feasibility study of industrial projects using Simos’ procedure |
| title_sort | feasibility study of industrial projects using simos procedure |
| topic | multi-criteria decision making feasibility study Simos’ procedure Weighted-Sum Model sensitivity analysis ranking techniques |
| url | http://journals.vgtu.lt/index.php/JCEM/article/view/3801 |
| work_keys_str_mv | AT mohamedmarzouk feasibilitystudyofindustrialprojectsusingsimosprocedure AT omaramer feasibilitystudyofindustrialprojectsusingsimosprocedure AT moheebelsaid feasibilitystudyofindustrialprojectsusingsimosprocedure |