Abstract:
Decision-makers in public and private asset-intensive organizations strive to consistently deliver and maximize benefits in the face of competing invest-ment alternatives. The intended aim of these decisions is to satisfy organizational objectives and stakeholders’ needs and expectations. This paper proposes a decision-making support tool based on a novel multi-criteria decision analysis (MCDA) approach using Analytic Hierarchy Process (AHP). This support tool enables Auto-mated Rational and Consistent Decision Making (ARCDM) by simulating scenarios and behaviors of a virtual Panel of Experts (PoE) with different perspectives. These scenarios are organized into a pairwise multi-layer decision-making matrix that su-persedes the need for a PoE. The proposed decision-making support tool is tested in an Urban Resilience Evaluation System (URES) with a breakdown structure of 16 indicators and 75 parameters grouped into five interrelated dimensions: environmental, economic, organizational, social, and technical to be weighted. A building portfolio with seven different types of use (hospitals, schools, industrial facilities, shopping centers, hotels, research facilities, and residential) is used as a testbed for applying the support tool. The successful application of the proposed ARCDM sup-port tool on the URES breakdown structure shows that similar applications can be made in other asset management decision making contexts, such as feasibility studies, design, construction, operation and maintenance, rehabilitation, and disposal of constructed assets that comprise the built environment for cities and societies.
