Private-Sector Partner Selection for Public-Private Partnership Projects Based on Improved CRITIC-EMW Weight and GRA -VIKOR Method

Abstract

When the government decides to use the public-private partnership (PPP) in projects, such as infrastructure construction, selecting a private-sector partner that meets the project's needs is one of the key factors for successful implementation, but this is ignored in existing research. On this basis, this paper proposes a GRA-VIKOR method based on the combined weight of the improved CRITIC-entropy weight method (EWM). The traditional CRITIC method is improved by combining it with EWM. The combined weights are measured, which reduces the limitations of the single weight. Considering the inherent correlation of evaluation indicators, the VIKOR method is combined with the grey relational analysis (GRA), which makes the results of the selection assessment more reasonable. This paper carries out a case study of the first inland navigation PPP project in China. Through preliminary tracking studies, it tests the effectiveness of the proposed method, the superiority of which is demonstrated by comparing the evaluation results with those of the traditional GRA methods, VIKOR, and TOPSIS.