The assessment of airport investments has been primarily done through Cost-Benefit Analysis (CBA). However, important dimensions are not captured by traditional CBA. This research provides a decision-support framework that integrates CBA and Multi-Criteria Decision Analysis (MCDA). The proposed model is designed for the assessment of investment opportunities with an emphasis on infrastructure resilience. It quantifies resilience through a Total Resilience Score and Index (TRS/TRI), which combines financial and socio-economic feasibility, measured via normalized Net Present Value (NPV), with MCDA expert-driven evaluation through criteria such as environmental sustainability, resilience, and operational efficiency. By prioritizing CBA as the primary tool and calibrating MCDA integration through an alpha factor (α), the model ensures balanced and transparent evaluations. Applied to the Lisbon Humberto Delgado Airport expansion, it assessed eight strategic options and identified hybrid configurations. The model addresses the limitations of traditional methods by integrating quantitative and qualitative dimensions, offering a comprehensive approach to strategic planning. While demonstrated in airport infrastructure, it is broadly applicable to other sectors requiring sustainable and resilient investment strategies. By presenting a final score and ranking, the model simplifies decision-making and enhances transparency, supporting long-term sustainability and resilience goals. • Proposes a new CBA–MCDA model for resilient infrastructure evaluation. • Introduces the Total Resilience Score (TRS) & Total Resilience Index (TRI). • Applies the model to the Lisbon Airport expansion with 8 strategic alternatives. • Combines expert judgment with NPV to balance monetary and non-monetary values. • Sensitivity analysis confirms robustness under criteria and weighting variations.
Shoaei et al. (Fri,) studied this question.