Application of Decision-Making Model for Quality Assessment in Public Bus Transportation Services (MSRTC) using Cost Benefit Model

To evaluate the performance of any public transport business, a systemic survey-based comparative cost benefit model is needed, which critically analyzes with key parameters for taking decision to determine whether it is feasible over a time from an organization perspective and designs the future line of action for improvement. A cost benefit analysis model is built up among the alternative of MSRTC and private bus transport services from the year of 2017 to 2022, and performance parameters NPV (Net Present Value), BC (Benefit to Cost) ratio and IRR (Internal Rate of Return) measured. The benefits here are associated directly with the services provided by the corporations. In this research paper, the methodology suggested that building the decision-making model helps us to know what facilities are to be put on priority for improvements in performance parameters in the two alternatives MSRTC (Maharashtra State Road Transport Corporation) and private bus services and after analyzing two alternatives, a decision factor is calculated based on the cost allotted to the particular facility and the negative response to that facility and then decision factor helps us to know which facility or parameter should be improved on priority which directly led to the improvement of services to increase the rate of customer satisfaction. In result, the priority sequence to all the nine facilities is set for continuous improvement of performance parameters in both the alternatives.