Using the innovative approach in optimal decision-making for project financing

Abstract

The decision-making process is a complex administrative process, taking into account the decision-making environment as well as the prediction of constraints and problems that may limit the effectiveness of administrative decisions. Decision makers should consider analyzing and avoiding the problems they may encounter. In this study, an innovative approach has been used to identify and analyze the problem (not knowing the best way of financing infrastructure projects). The innovative approach includes eight analytical steps to reach the  optimum solution.  Alternatives have been developed to solve the problem and to choose the optimal alternative, taking into account the opinions of a number of specialists. The alternatives suggested by the researcher are contributing to specialized international companies, and choose more than one bank to fund each phase of the project separately. It is claimed that collaborating with international companies plays a key role in the effective financing of the project because it helps to promote and improve the progress of the project and does not hinder it.