Selecting the Best Project Using the Fuzzy ELECTRE Method

Babak Daneshvar Rouyendegh and Serpil Erol

Mathematical Problems in Engineering, 2012, vol. 2012, 1-12

Abstract:

Selecting projects is often a difficult task. It is complicated because there is usually more than one dimension for measuring the impact of each project, especially when there is more than one decision maker. This paper is aimed to present the fuzzy ELECTRE approach for prioritizing the most effective projects to improve decision making. To begin with, the ELECTRE is one of most extensively used methods to solve multicriteria decision making (MCDM) problems. The ELECTRE evaluation method is widely recognized for high-performance policy analysis involving both qualitative and quantitative criteria. In this paper, we consider a real application of project selection using the opinion of experts to be applied into a model by one of the group decision makers, called the fuzzy ELECTRE method. A numerical example for project selection is given to clarify the main developed result in this paper.

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlmpe:790142

DOI: 10.1155/2012/790142

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