In last decade, the emergence of various risks and hazards in large and infrastructure projects has become a concern for governments and government-affiliated institutions. Thereby, BOT contracts have been set up to prevent these risks at the national level, leaving the design, construction, and operation of the projects with all investments to a foreign or private company. Meanwhile, a multi-phase weighting approach based-collective criteria and DEMATEL methodology is proposed under dynamic intuitionistic fuzzy (DIF) set environment. In this respect, the weight of each criterion is determined by DIF-collective criteria method and also the interdependencies relation between criteria is computed by developed DIF-DEMATEL methodology to tune the criteria weights. In addition, the weights of experts are specified by proposed DIF-utility degree method to reach a precise solution. Moreover, the proposed approach of this study is extended based on last aggregation concept to reduce the data loss. Then, the proposed methodology is implemented to a real case study and also compared with a recent relevant study in literature to ensure the reliability of the results. Finally, a sensitivity analysis is manipulated to find the most effective parameters that can change the obtained results.