The Development of An Integrated Decision Model for Public Investment Projects in Thailand

Pintip Vajarothai*

*Corresponding author for this work

    Research output: ThesisPhD Thesis - Research UT, graduation UT

    44 Downloads (Pure)

    Abstract

    Research and empirical evidence show that public investments, particularly in developing countries, often struggle or fail to satisfy their objectives and to response to the needs of local community. A main reason for that failure is the way how the decision-making process is carried out to select public investment projects. Despite the comprehensive discipline of decision-making, the current procedure in practice remains lacking strong foundation in its approach. In this research, the current state of public investment decision was investigated in Thailand as a representative case of public investment in developing countries. The analysis shows that the project evaluation and selection procedure in Thailand is unstructured and opaque. Moreover the decisions are mostly made based on a one-sided economic basis and hence neglect other important objectives that public projects supposed to meet.
    This research proposes an integrated decision model (IDM) for evaluating and selecting public investment projects which addresses those shortcomings and consequently improves the process. The IDM integrates various evaluation and decision-making approaches, suitable for addressing not only economic, but also social, environmental and project support attributes, into one decision model. The IDM and its methodology is designed to be applied to any type of projects and organisations. With this function, two existing investment projects in Thailand have been applied through the entire methodology to test the adaptability and flexibility. The final results of the model have been reviewed by using sensitivity analysis to test the robustness of the selected choice. Moreover opinions from relevant experts in various fields and organisations were collected for further implementation.
    Original languageEnglish
    QualificationDoctor of Philosophy
    Awarding Institution
    • University of Twente
    Supervisors/Advisors
    • Halman, Johannes Innocentius Maria, Supervisor
    • Al-Jibouri, Saad H.S., Co-Supervisor
    Award date3 Jul 2019
    Place of PublicationEnschede
    Publisher
    Print ISBNs978-90-365-4804-5
    DOIs
    Publication statusPublished - 3 Jul 2019

    Fingerprint

    decision model
    public investment
    Thailand
    Decision making
    Developing countries
    decision making
    developing world
    developing country
    Economics
    selection procedure
    methodology
    Sensitivity analysis
    project
    decision
    public
    Public investment
    Integrated
    Investment project
    Decision model
    evaluation

    Keywords

    • Decision models
    • Decision making
    • Project evaluation
    • Public projects
    • Developing countries
    • Project appraisal

    Cite this

    Vajarothai, Pintip . / The Development of An Integrated Decision Model for Public Investment Projects in Thailand. Enschede : Ipskamp Printing, 2019. 250 p.
    @phdthesis{b63ddabe46804c1d89d052ce4de8fc8b,
    title = "The Development of An Integrated Decision Model for Public Investment Projects in Thailand",
    abstract = "Research and empirical evidence show that public investments, particularly in developing countries, often struggle or fail to satisfy their objectives and to response to the needs of local community. A main reason for that failure is the way how the decision-making process is carried out to select public investment projects. Despite the comprehensive discipline of decision-making, the current procedure in practice remains lacking strong foundation in its approach. In this research, the current state of public investment decision was investigated in Thailand as a representative case of public investment in developing countries. The analysis shows that the project evaluation and selection procedure in Thailand is unstructured and opaque. Moreover the decisions are mostly made based on a one-sided economic basis and hence neglect other important objectives that public projects supposed to meet.This research proposes an integrated decision model (IDM) for evaluating and selecting public investment projects which addresses those shortcomings and consequently improves the process. The IDM integrates various evaluation and decision-making approaches, suitable for addressing not only economic, but also social, environmental and project support attributes, into one decision model. The IDM and its methodology is designed to be applied to any type of projects and organisations. With this function, two existing investment projects in Thailand have been applied through the entire methodology to test the adaptability and flexibility. The final results of the model have been reviewed by using sensitivity analysis to test the robustness of the selected choice. Moreover opinions from relevant experts in various fields and organisations were collected for further implementation.",
    keywords = "Decision models, Decision making, Project evaluation, Public projects, Developing countries, Project appraisal",
    author = "Pintip Vajarothai",
    year = "2019",
    month = "7",
    day = "3",
    doi = "10.3990/1.9789036548045",
    language = "English",
    isbn = "978-90-365-4804-5",
    publisher = "Ipskamp Printing",
    address = "Netherlands",
    school = "University of Twente",

    }

    The Development of An Integrated Decision Model for Public Investment Projects in Thailand. / Vajarothai, Pintip .

    Enschede : Ipskamp Printing, 2019. 250 p.

    Research output: ThesisPhD Thesis - Research UT, graduation UT

    TY - THES

    T1 - The Development of An Integrated Decision Model for Public Investment Projects in Thailand

    AU - Vajarothai, Pintip

    PY - 2019/7/3

    Y1 - 2019/7/3

    N2 - Research and empirical evidence show that public investments, particularly in developing countries, often struggle or fail to satisfy their objectives and to response to the needs of local community. A main reason for that failure is the way how the decision-making process is carried out to select public investment projects. Despite the comprehensive discipline of decision-making, the current procedure in practice remains lacking strong foundation in its approach. In this research, the current state of public investment decision was investigated in Thailand as a representative case of public investment in developing countries. The analysis shows that the project evaluation and selection procedure in Thailand is unstructured and opaque. Moreover the decisions are mostly made based on a one-sided economic basis and hence neglect other important objectives that public projects supposed to meet.This research proposes an integrated decision model (IDM) for evaluating and selecting public investment projects which addresses those shortcomings and consequently improves the process. The IDM integrates various evaluation and decision-making approaches, suitable for addressing not only economic, but also social, environmental and project support attributes, into one decision model. The IDM and its methodology is designed to be applied to any type of projects and organisations. With this function, two existing investment projects in Thailand have been applied through the entire methodology to test the adaptability and flexibility. The final results of the model have been reviewed by using sensitivity analysis to test the robustness of the selected choice. Moreover opinions from relevant experts in various fields and organisations were collected for further implementation.

    AB - Research and empirical evidence show that public investments, particularly in developing countries, often struggle or fail to satisfy their objectives and to response to the needs of local community. A main reason for that failure is the way how the decision-making process is carried out to select public investment projects. Despite the comprehensive discipline of decision-making, the current procedure in practice remains lacking strong foundation in its approach. In this research, the current state of public investment decision was investigated in Thailand as a representative case of public investment in developing countries. The analysis shows that the project evaluation and selection procedure in Thailand is unstructured and opaque. Moreover the decisions are mostly made based on a one-sided economic basis and hence neglect other important objectives that public projects supposed to meet.This research proposes an integrated decision model (IDM) for evaluating and selecting public investment projects which addresses those shortcomings and consequently improves the process. The IDM integrates various evaluation and decision-making approaches, suitable for addressing not only economic, but also social, environmental and project support attributes, into one decision model. The IDM and its methodology is designed to be applied to any type of projects and organisations. With this function, two existing investment projects in Thailand have been applied through the entire methodology to test the adaptability and flexibility. The final results of the model have been reviewed by using sensitivity analysis to test the robustness of the selected choice. Moreover opinions from relevant experts in various fields and organisations were collected for further implementation.

    KW - Decision models

    KW - Decision making

    KW - Project evaluation

    KW - Public projects

    KW - Developing countries

    KW - Project appraisal

    U2 - 10.3990/1.9789036548045

    DO - 10.3990/1.9789036548045

    M3 - PhD Thesis - Research UT, graduation UT

    SN - 978-90-365-4804-5

    PB - Ipskamp Printing

    CY - Enschede

    ER -