An Integrated Group Decision Making Model to Determine Buy, Hire or Lease Construction Equipment

摘要

In the initial stages of every project, a contractor may need to know how to provide the equipment required for project implementation. This paper presents a multi-stage decision making model that helps construction companies to decide which part of the equipment bought, leased, or rented. The aim of the model is to develop a multi-stage decision making model that helps construction companies to determine the optimal number of bought, leased, or hired equipments. The model applies a group analytical hierarchy process (AHP) to derive the weights, and optimizes the number of required equipment by linear programming. It takes into account technical, financial, and managerial criteria while decision making. The results of the paper are applicable for both practitioners and academic professionals.