Making a company investment plan is a complex and difficult management issue. Project selection and ranking are crucial steps for the company’s success in the market. Strategic decisions, such as the development of a project investment plan, depend on many factors,
with different relevance usually changeable over time. Some relationships of the system’s elements are functions of time. The subject of this paper is time dependent decision making in transport project management. Several transport projects have been evaluated using Dynamic Priorities in Multi-criteria decision making. Here we consider rail investment projects as part of the Serbian railway network.

project management; rail projects’ evaluation; dynamic priorities