Document Type : Research Paper

Authors

1 Department of Economic, Faculty of Economic and Management, Urmia University, Urmia, Iran

2 MSc. Graduate of Industrial Engineering, Alghadir institute of higher education, Tabriz, Iran

Abstract

In the process of investment decision making, next to financial indicators many other aspects of investment projects are increasingly often considered. This leads to the multi-criteria evaluation of a project. The advantage of multi-criteria methods is the ability to take into account all (not only financial) aspects of the attractiveness of an investment project. The selection of criteria of project assessment must take into account the specificity of organization that makes a decision. Along with traditional method this paper introduces new approach for risk assessment based on each criterion characterizing the investment project on hydrocarbon resources exploitation.

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