A MULTICRITERIA DECISION MAKING MODEL FOR THE EVALUATION OF A PUBLIC INVESTMENT PROJECT IN MEDELLÍN: A STAKEHOLDER PERSPECTIVE

Lorenzo Portocarrero Sierra, Tecnológico de Antioquia, Institución Universitaria, Colombia
Jordi Morató Farreras, Universidad Politécnica de Cataluña, Espana
Juan Gabriel Vanegas, Tecnológico de Antioquia, Institución Universitaria, Colombia

Published in

INTERNATIONAL JOURNAL OF BUSINESS RESEARCH
Volume 18, Issue 3, p57-66, October 2018

ABSTRACT

This paper presents a multicriteria model for a case study of public investment evaluation. This tool can be used for decision-making process to allocate the financial resources in environmental projects. Developed for Moravia's Hills in Medellín, Colombia, it permits to evaluate the different dimensions of sustainability. Results show that there is a 'very strong or demonstrated importance' of environmental dimension on financial dimension; financial dimension emphasizes durability; economic dimension prioritizes the generation of alternative business opportunities; for environmental dimension the priority are environmental risks; and in social contexts, culture and education prevail.

Keywords

public investment, evaluation, analytic hierarchy process, stakeholders, Medellín.


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