Project Selection by Using a Fuzzy TOPSIS Technique

Authors: M. Salehi, R. Tavakkoli-Moghaddam

Abstract:

Selection of a project among a set of possible alternatives is a difficult task that the decision maker (DM) has to face. In this paper, by using a fuzzy TOPSIS technique we propose a new method for a project selection problem. After reviewing four common methods of comparing investment alternatives (net present value, rate of return, benefit cost analysis and payback period) we use them as criteria in a TOPSIS technique. First we calculate the weight of each criterion by a pairwise comparison and then we utilize the improved TOPSIS assessment for the project selection.

Keywords: Fuzzy Theory, Pairwise Comparison, ProjectSelection, TOPSIS Technique.

Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1327468

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