scholarly journals Picture Fuzzy TOPSIS Method Based on CPFRS Model: An Application to Risk Management Problems

2021 ◽  
Vol 2021 ◽  
pp. 1-15
Author(s):  
Jiulin Jin ◽  
Ping Zhao ◽  
Taijie You
Keyword(s):  
Decision Making ◽  
Risk Management ◽  
Multicriteria Decision Making ◽  
Fuzzy Topsis ◽  
Green Buildings ◽  
Topsis Method ◽  
Fuzzy Rough Set ◽  
Established Method ◽  
Logical Operators ◽  
Wide Range

It is not widely acknowledged that multicriteria decision-making (MCDM) problems in some particular circumstances cannot be effectively solved by some traditional methods. This paper aims to construct a novel decision-making method to effectively solve these MCDM problems. Firstly, we propose a covering-based picture fuzzy rough set (CPFRS) model by combining the picture fuzzy (PF) neighborhood operator and some PF logical operators. Secondly, by combining the proposed CPFRS model with the principle of TOPSIS method, a new method is proposed to solve the MCDM problems under PF environments. Finally, we apply our proposed method to the risk management of green buildings. By comparing the proposed method with some existing MCDM methods, the established method is effective and flexible and can be applied to a wide range of environments.

scholarly journals A TWO PHASED FUZZY METHODOLOGY FOR SELECTION AMONG MUNICIPAL PROJECTS

2015 ◽  
Vol 21 (3) ◽  
pp. 405-422 ◽  
Author(s):  
Mehmet Emin BAYSAL ◽  
İhsan KAYA ◽  
Cengiz KAHRAMAN ◽  
Ahmet SARUCAN ◽  
Orhan ENGIN
Keyword(s):  
Decision Making ◽  
Fuzzy Ahp ◽  
Multicriteria Decision Making ◽  
Fuzzy Topsis ◽  
Community Life ◽  
Topsis Method ◽  
Complex Processes ◽  
Central District ◽  
Selection Of

A municipality improves the quality of community life through its projects and actions. However, project selection and prioritization by municipalities are highly complex processes. Therefore, multicriteria decision making (MCDM) methodologies are very suitable for determining the best alternative. Recently, some studies have concentrated on the selection of the best project alternatives. In this paper, a two phased fuzzy MCDM methodology is proposed for the selection among municipal projects. In the first phase, fuzzy TOPSIS method is used to select the main project group and then fuzzy AHP is used to select the best sub-municipal project. The application of the suggested methodology has been made at the central district municipality in Konya, Turkey.

scholarly journals An Analysis of Job Change Decision Using a Hybrid Mcdm Method: A Comparative Analysis

2016 ◽  
Vol 6 (3) ◽  
pp. 60 ◽  
Author(s):  
V. Alpagut Yavuz
Keyword(s):  
Decision Making ◽  
Decision Process ◽  
Work Performance ◽  
Fuzzy Ahp ◽  
Hybrid Approach ◽  
Fuzzy Topsis ◽  
Comparison Analysis ◽  
Topsis Method ◽  
Job Change ◽  
Wide Range

<p>This paper investigates the decision process relating to job change which mostly depends on individual’s expectations about a job. Failing to fully understand the factors shaping these expectations leads to dissatisfaction and poor work performance; which produces unwanted consequences for both individuals and businesses. Since job change decision is defined as a multiple criteria decision making (MCDM) problem. This study uses a hybrid approach as a methodology combining fuzzy Analytic Hierarchy Analysis (AHP) and fuzzy TOPSIS (Technique for Order of Preference by Similarity to Ideal Solution) for the job change decision of a faculty working in a university. In this approach, while the use of fuzzy AHP method helps determine the weight of the decision criteria; fuzzy TOPSIS enables the evaluation of the alternatives. In order to investigate the methods’ applicability in multiple dimensions of decision problem space, a comparison analysis is conducted with the three methodologies; fuzzy AHP, fuzzy TOPSIS and the proposed hybrid approach (named fuzzy AHP-TOPSIS) in the same decision making context. Four factors are considered for the comparison: adequacy to changes of criteria or alternatives; agility in the decision process; computational complexity; and the number of criteria and alternatives. Analysis shows that three methods achieve the same results. This verifies their robustness and indicates that MCDM methods are viable in job change decisions. However; comparison analysis shows that based on the four factors; the proposed hybrid fuzzy AHP-TOPSIS method provide more consistent results than fuzzy AHP and fuzzy TOPSIS methods. Thus the proposed hybrid fuzzy AHP-TOPSIS method is more appropriate to use on a wide range of job change decision problems.</p>

scholarly journals Decision Making in Uncertain Rural Scenarios by means of Fuzzy TOPSIS Method

2011 ◽  
Vol 2011 ◽  
pp. 1-15 ◽  
Author(s):  
Eva Armero ◽  
M. Socorro García-Cascales ◽  
M. Dolores Gómez-López ◽  
M. Teresa Lamata
Keyword(s):  
Decision Making ◽  
Environmental Control ◽  
Multicriteria Decision Making ◽  
Fuzzy Topsis ◽  
Uncertain Information ◽  
Topsis Method ◽  
Linguistic Terms ◽  
Multicriteria Decision

A great deal of uncertain information which is difficult to quantify is taken into account by farmers and experts in the enterprise when making decisions. We are interested in the problems of the implementation of a rabbit-breeding farm. One of the first decisions to be taken refers to the design or type of structure for housing the animals, which is determined by the level of environmental control sought to be maintained in its interior. A farmer was consulted, and his answers were incorporated into the analysis, by means of the fuzzy TOPSIS methodology. The main purpose of this paper is to study the problem by means of the fuzzy TOPSIS method as multicriteria decision making, when the information was given in linguistic terms.

scholarly journals Prioritization in Strategic Environmental Assessment Using Fuzzy TOPSIS Method with Random Generation for Absent Information in South Korea

2021 ◽  
Vol 13 (3) ◽  
pp. 1458
Author(s):  
Daeryong Park ◽  
Huan-Jung Fan ◽  
Jun-Jie Zhu ◽  
Taesoon Kim ◽  
Myoung-Jin Um ◽  
...  
Keyword(s):  
Decision Making ◽  
Multicriteria Decision Making ◽  
Fuzzy Topsis ◽  
River Basins ◽  
Ideal Solution ◽  
Missing Information ◽  
Nakdong River ◽  
Han River ◽  
Priority Ranking ◽  
The Nakdong River

This study evaluated a fuzzy technique for order performance by similarity to ideal solution (TOPSIS) as a multicriteria decision making system that compensates for missing information with undefined weight factor criteria. The suggested Fuzzy TOPSIS was applied to ten potential dam sites in three river basins (the Han River, the Geum River, and the Nakdong River basins) in South Korea. To assess potential dam sites, the strategic environment assessment (SEA) monitored four categories: national preservation, endangered species, water quality, and toxic environment. To consider missing information, this study applied the Monte Carlo Simulation method with uniform and normal distributions. The results show that effects of missing information generation with one fuzzy set in GB1 site of the Geum River basin are not great in fuzzy positive-ideal solution (FPIS) and fuzzy negative-ideal solution (FNIS) estimations. However, the combination of two fuzzy sets considering missing information in Gohyun stream (NG) and Hoenggye stream (NH) sites of the Nakdong River basin has a great effect on estimating FPIS, FNIS, and priority ranking in Fuzzy TOPSIS applications. The sites with the highest priority ranking in the Han River, Geum River, and Nakdong River basins based on Fuzzy TOPSIS are the Dal stream 1 (HD1), Bocheong stream 2 (GB2) and NG sites. Among the sites in all river basins, the GB2 site had the highest priority ranking. Consequently, the results coincided with findings of previous studies based on multicriteria decision making with missing information and show the applicability of Fuzzy TOPSIS when evaluating priority rankings in cases with missing information.

scholarly journals Evaluation of Investment Opportunities With Interval-Valued Fuzzy Topsis Method

2020 ◽  
Vol 5 (1) ◽  
pp. 461-474 ◽  
Author(s):  
Naiyer Mohammadi Lanbaran ◽  
Ercan Celik ◽  
Muhammed Yiğider
Keyword(s):  
Decision Making ◽  
Fuzzy Set ◽  
Estimation Error ◽  
Fuzzy Topsis ◽  
Optimal Choice ◽  
Topsis Method ◽  
Relative Closeness ◽  
Ideal Solutions ◽  
Fuzzy Logic Theory ◽  
Interval Valued

AbstractThe purpose of this study is extended the TOPSIS method based on interval-valued fuzzy set in decision analysis. After the introduction of TOPSIS method by Hwang and Yoon in 1981, this method has been extensively used in decision-making, rankings also in optimal choice. Due to this fact that uncertainty in decision-making and linguistic variables has been caused to develop some new approaches based on fuzzy-logic theory. Indeed, it is difficult to achieve the numerical measures of the relative importance of attributes and the effects of alternatives on the attributes in some cases. In this paper to reduce the estimation error due to any uncertainty, a method has been developed based on interval-valued fuzzy set. In the suggested TOPSIS method, we use Shannon entropy for weighting the criteria and apply the Euclid distance to calculate the separation measures of each alternative from the positive and negative ideal solutions to determine the relative closeness coefficients. According to the values of the closeness coefficients, the alternatives can be ranked and the most desirable one(s) can be selected in the decision-making process.

scholarly journals Enterprise Credit Risk Management Using Multicriteria Decision-Making

2021 ◽  
Vol 2021 ◽  
pp. 1-10
Author(s):  
Wenjuan Liu
Keyword(s):  
Decision Making ◽  
Risk Management ◽  
Credit Risk ◽  
Multicriteria Decision Making ◽  
Final Decision ◽  
Credit Risk Management ◽  
Multicriteria Decision ◽  
Risk Manager ◽  
Enterprise Credit ◽  
Weight Calculation

The purpose of this study is to reduce the rate of multicriteria decision-making (MCDA) errors in credit risk management and to weaken the influence of different attitudes of enterprise managers on the final decision when facing credit risk. First, several solutions that are suitable for present enterprise credit risk management are proposed according to the research of enterprise risk management in the world. Moreover, the criteria and matrix are established according to the general practice of the expert method. A decision-making method of enterprise credit risk management with trapezoidal fuzzy number as the criteria of credit risk management is proposed based on the prospect theory; then, the weight is calculated based on G1 weight calculation, G2 weight calculation method, and the method of maximizing deviation; finally, the prospect values of the alternatives calculated by each method are adopted to sort and compare the proposed solutions. Considering the difference of risk degree of managers in the face of credit risk management, the ranking results of enterprise credit risk management solutions based on three weight calculation methods are compared. The results show that as long as the quantitative value of the risk attitude of the enterprise credit risk manager meets a certain range, the final choice of credit risk management scheme ranking is consistent. This exploration provides a new research direction for enterprise credit risk management, which has reference significance.

Sign in / Sign up

Export Citation Format

Share Document