A hybrid lexicographic and VIKOR approach for prioritizing construction projects by considering sustainable development criteria

Abstract

Nowadays, one of the challenges in the organizations according to budget limitations in the com-panies, is how to prioritize their project portfolios in the events of their strategies. In other words, organizations are seeking to allocate resources in order to gain the maximum profit ac-cording to budget limitations. In this article, a hybrid decision making method is used to priori-tize construction project portfolio by considering sustainability criteria. First, Lexicographic method is applied to weight the sustainability criteria. Then, by considering the weights derived from the Lexicographic and sustainability criteria, projects are prioritized based on VIKOR method. The proposed method of this study is applied for a case study of projects in the refinery scope.

Keywords

• Prioritizing
• Lexicographic
• VIKOR
• Sustainability criteria