Composite decision support by combining cost‐benefit and multi‐criteria decision analysis

This paper concerns composite decision support based on combining cost‐benefit analysis (CBA) with multi‐criteria decision analysis (MCDA) for the assessment of economic as well as strategic impacts within transport projects. Specifically a composite model for assessment (COSIMA) is presented as a decision support system (DSS). This COSIMA DSS ensures that the assessment is conducted in a systematic, transparent and explicit way. The modelling principles presented are illuminated with a case study concerning a complex decision problem. The outcome demonstrates the approach as a valuable DSS, and it is concluded that appraisals of large transport projects can be effectively supported using a combination of CBA and MCDA. Finally, perspectives of the future modelling work are given.