Establishing a Project Priority System by Strategic Value Planning

This paper builds a conceptual model that includes an effective priority setting system for urban projects. The proposed methodology uses value management concepts for resource allocation decision makings. The clients of urban projects confront qualitative factors, uncertain economic conditions, social pressures, and political considerations while developing new alternatives for implementation. These factors intensify the problems of ill-structured project ranking for clients. The current research benefits value management as a function-oriented, systematic, creative, team approach to provide the highest value for the system. The proposed system contains the key components of problem and introduces an effective practical framework of allocating resources to public assets. The system is named Strategic Value Planning (SVP). The system was applied in a real world example in Tehran to demonstrate the effectiveness of the model. Previous models focused on one aspect of the problem, but current model benefits a comprehensive group decision making model. For instance, pavement condition index, average daily traffic, the importance of every street, stakeholder's opinions, and required resources were simultaneously affecting the project priority, while normally the pavement condition is being concentrated in traditional pavement projects.