Thesis (MBA)--Stellenbosch University, 2004. / ENGLISH ABSTRACT: Everyone, generally. would like to make good decisions, or receive the greatest benefit from a decision made. Companies are no different in this respect and the process of selecting an investment project portfolio has become an important activity. This is, further, complicated by the fact that companies have multiple, and often, conflicting objectives in a situation of capital rationing. This study project proposes a conceptual framework for project portfolio establishment, for application in an industrial manufacturing type environment, by integrating project evaluation and selection, a multi-criteria decision analysis technique and group decision-making. The project issues, the selection of a multi-criteria decision analysis technique and group decisionmaking are dealt with sequentially and then integrated to develop this conceptual framework. The explorative part of this study project deals with project evaluation and selection issues, and the concept of the triple bottom line is proposed to capture the multiple objectives of the company's decision context. Further, decision analysis concepts are reviewed and three categories of multi-criteria decision analysis methods identified. Selected methods in these categories are described, examined and the advantages and drawbacks of the different categories highlighted. The Analytic Hierarchy Process is proposed as the underlying multi-criteria decision analysis technique to support this conceptual framework. Group decision-making is investigated, and aggregation procedures and a method of consistency checking suggested. Finally, the framework is applied to a hypothetical case and the results presented. / AFRIKAANSE OPSOMMING: Oor die algemeen wil almal goeie besluite neem, of maksimum voordeel uit die besluite trek. Maatskappye het dieselfde motivering en die aktiwiteit om 'n kapitaalinvesteringsportfolio saam te stel word as van groot belang beskou. Hierdie aktiwiteit is ook deur die werklikheid van vele, dikwels teenstrydige doelwitte sowel as beperkte fondse bemoeilik. In hierdie werkstuk word 'n begripsraamwerk vir die daarstelling van 'n investeringsportfolio vir kapitaalprojekte in 'n nywerheidsomgewing, wat projekevaluering en - keuring, veelvoudige kriterium besluitnemingstegnieke en groepsbesluitneming insluit, voorgestel. Projekverwante faktore, die keuse van 'n veelvoudige kriterium besluitnemingstegniek en derdens groepsbesluitneming word apart bespreek en daarna in die bogenoemde raamwerk geintegreer. Die navorsingsgedeelte van hierdie werkstuk verwys na die evaluering en keuse van projekte. Die begrip van 'n drievoudige maatstaf ('triple bottom line') om die kompleksiteit van 'n maatskappy se besluitnemingsdoelwitte te illustreer, word ondersteun. Daarna word besluitnemingsbegrippe bespreek en drie kategoriee van tegnieke vir veelvoudige kriterium besluitnemings uitgelig. Onder hierdie kategoriee is verkose metodes beskryf en ondersoek, en voor- en nadele van die kategoriee uitgewys. Die Analitiese Hierargie proses word voorgestel as basis van die begripsraamwerk. Groepsbesluitneming word ondersoek en versamelingsmetodes met kontrole vir konsekwentheid word voorgestel. Laastens word die besluitnemingsraamwerk op 'n denkbeeldige geval toegepas en word die resultate bespreek.