Multi-criteria decision support methods for the selection of the optimum contractor: A case study of a passenger transfer centre

Abstract

Purpose: The main purpose of the paper is to apply the TOPSIS method for selecting the optimal contractor for a passenger transfer center.
 Methodology: The methodology is based on the use of TOPSIS, which determines the distance of decision alternatives from the ideal and anti-ideal solutions using evaluation criteria.
 Results: Two different contractor rankings were obtained depending on the weights of the criteria. With equal weights, the best contractor is number 5, while with weights determined by formula (8), the best is number 4.
 Theoretical Contribution: The paper contributes to the field of investment project management by demonstrating how the TOPSIS method can aid in decision-making for optimal contractor selection, thereby reducing the risk of erroneous decisions.
 Practical Implications: The practical implications of this research are significant for investment projects, as the demonstrated methodology can be directly applied to the contractor selection process, potentially leading to more successful project outcomes.