RAILWAY PROJECTS EVALUATION WITH DYNAMIC PRIORITIES – SERBIA CASE STUDY
Strategic decisions, such as transport investments, depend on a number of factors of different relevance that are often changeable over time. Evaluation of transport projects is a complex and difficult task, but also crucial for a company’s success in the market. We assume that certain relations of the system elements are functions of time, and thus we apply a dynamic approach – dynamic priorities in multi-criteria decision making. The topic of this paper is time dependent multi-criteria decision making in a transport projects evaluation. The model is tested on real data from the Serbian railway network.