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. (C) 2010 Elsevier B.V. All rights reserved.