Use of the analytic hierarchy process to measure the initial viability of industrial projects

In many parts of the world industrial investment companies have been established to promote regional industrial development. In this research effort a methodology based on the analytic hierarchy process, a decision making approach incorporating qualitative and quantitative aspects of a problem, is proposed to assist in measuring the initial viability of industrial projects. The ranking of these projects will help management in the efficient allocation of the company’s resources. The application of the proposed methodology has been illustrated through a numerical example using hypothetical but representative data to rank industrial projects at an Inter-Arab Gulf industrial investment company.