Investment Evaluation and Partnership Selection Model in the Offshore Wind Power Underwater Foundations Industry
Open Access
- 2 December 2021
- journal article
- research article
- Published by MDPI AG in Journal of Marine Science and Engineering
- Vol. 9 (12), 1371
- https://doi.org/10.3390/jmse9121371
Abstract
With a plan to achieve a target of 5.7 GW offshore wind power capacity in 2025, Taiwan anticipates building a 36-billion USD industry, which makes Taiwan a center of attention in the global marketplace of civil engineering construction. Aimed at Taiwan’s underwater foundations industries, this study is the first to develop an investment evaluation model (IEM) by applying FPR to obtain risk factor weights and calculate the overall investment risk value with a numerical scoring method. In a context where no precedent exists for reference, this study provides auxiliary and supportive tools to help builders to make the decision, based on objective indicators, whether to undertake an investment. To date, no research has been conducted to introduce a reasonable mathematical model that discusses the issue of partner selection in the field of offshore wind power. This study is the first paper to construct a SWARA-FTOPSIS partner selection model, which enables underwater foundations builders to take specific Taiwanese characteristics into account in their selection of the best partners to meet transportation, construction, and installation requirements. Finally, the study uses the case of the Taipower Offshore Wind Power Project (2nd phase) to verify the feasibility of this model.This publication has 41 references indexed in Scilit:
- Decision making in machine tool selection: An integrated approach with SWARA and COPRAS-G methodsEngineering Economics, 2013
- The partner selection process: steps, effectiveness, governanceInternational Journal of Strategic Business Alliances, 2011
- SELECTION OF RATIONAL DISPUTE RESOLUTION METHOD BY APPLYING NEW STEP‐WISE WEIGHT ASSESSMENT RATIO ANALYSIS (SWARA)Journal of Business Economics and Management, 2010
- Technological, economic and sustainability evaluation of power plants using the Analytic Hierarchy ProcessEnergy Policy, 2009
- Modelling procurement effects on cooperationConstruction Management and Economics, 2007
- Measuring alliance value and riskManagement Decision, 2004
- Extensions of the TOPSIS for group decision-making under fuzzy environmentFuzzy Sets and Systems, 2000
- Globally effective questioning in the Analytic Hierarchy ProcessEuropean Journal of Operational Research, 1990
- Alternative modes of questioning in the analytic hierarchy processMathematical Modelling, 1987
- The legitimacy of rank reversal—A commentOmega, 1985