Analytic hierarchy process helps evaluate project in Indian oil pipelines industry

Analytic hierarchy process helps evaluate project in Indian oil pipelines industry

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Article ID: iaor2005284
Country: United Kingdom
Volume: 124
Issue: 6
Start Page Number: 588
End Page Number: 604
Publication Date: Jan 2004
Journal: International Journal of Operations & Production Management
Authors:
Keywords: decision theory: multiple criteria, developing countries, analytic hierarchy process
Abstract:

Conventionally, oil pipeline projects are evaluated thoroughly by the owner before investment decision is made using market, technical and financial analysis sequentially. The market analysis determines pipelines throughput and supply and demand points. Subsequent, technical analysis identifies technological options and economic and financial analysis then derives the least cost option among all technically feasible options. The subsequent impact assessment tries to justify the selected option by addressing environmental and social issues. The impact assessment often suggests alternative sites, technologies, and/or implementation methodology, necessitating revision of technical and financial analysis. This study addresses these issues via an integrated project evaluation and selection model. The model uses analytic hierarchy process, a multiple-attribute decision-making technique. The effectiveness of the model has been demonstrated through a case application on cross-country petroleum pipeline project in India.

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