Project Selection by Using Fuzzy AHP and TOPSIS Technique

Authors: S. Mahmoodzadeh, J. Shahrabi, M. Pariazar, M. S. Zaeri

Abstract:

In this article, by using fuzzy AHP and TOPSIS technique we propose a new method for project selection problem. After reviewing four common methods of comparing alternatives investment (net present value, rate of return, benefit cost analysis and payback period) we use them as criteria in AHP tree. In this methodology by utilizing improved Analytical Hierarchy Process by Fuzzy set theory, first we try to calculate weight of each criterion. Then by implementing TOPSIS algorithm, assessment of projects has been done. Obtained results have been tested in a numerical example.

Keywords: Fuzzy AHP, Project Selection, TOPSIS Technique.

Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1327748

References:

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