Provide A Model for Project Selection Using Principal Component Analysis (PCA) and Benefit-Cost Ratio (B/C)
One of the most problematic issues in organizations and large and small companies that face a large number of projects is the selection of projects among the most feasible and economically viable projects. Therefore, evaluation and selection of the project are very important issues that play a significant role in the success and failure of the project. In this paper, a model is presented in which a systematic methodology for evaluating and selecting a project is described, taking into account a series of criteria, as well as specific attention to the economic criterion. The proposed model in this research consists of three parts: 1. Identification of alternatives and criteria. 2. Economic appraisal of projects using the benefit -to-cost ratio (B/C) 3. Selecting the best project using the Principal Component Analysis (PCA).