scholarly journals Performance Evaluation Of The Hydropower Plants Using Various Multi-Criteria Decision-Making Techniques

2019 ◽  
Vol 8 (6) ◽  
pp. 2131-2138
Keyword(s):  
Decision Making ◽  
Performance Evaluation ◽  
Preference Ranking ◽  
Multi Criteria Decision Making ◽  
Power House ◽  
Hydropower Plants ◽  
Sardar Sarovar ◽  
And Performance ◽  
Weighted Aggregate ◽  
Maintenance Schedules

Annual growth of 2.3 % since 1990 to 2017 in the hydropower sector in India indicates it holds a vital position in the growth of electricity generation in the country. For effective and efficient running of the hydropower projects, maintenance schedules and performance evaluation have to be done. Thus, this paper presents the performance evaluation of four different hydro-powerhouses belonging to a different class. Multi-criteria decision making (MCDM) method stepwise weight assessment ratio analysis (SWARA) is used to calculate the weights. The weights calculated by SWARA are employed to assess the performance scores or ranks of Indira Sagar Project (ISP), Canal Head Power House (CHPH) and River Bed Power House (RBPH) at Sardar Sarovar Narmada Nigam Ltd. (SSNNL) by integrating SWARA with the MCDM techniques like weighted aggregate sum product assessment (WASPAS), technique for order of preference by similarity to ideal solution (TOPSIS) and preference ranking organization method for enrichment evaluation (PROMETHEE). A comparative analysis of these integrated methods is presented for improved future studies in the area of decision making. The results in this paper show performance rankings of the available alternatives, calculated using integrated SWARA-WASPAS, SWARA-TOPSIS and SWARA-PROMETHEE methods. Performance ranks obtained by SWARA-WASPAS and SWARA-TOPSIS methods are in the order ISP, RBPH, CHPH and LSPH, which shows similarity with the on-field performances and are well suited for the performance evaluation of hydropower projects

Robust Benchmarking of Indian Mutual Funds-A Partial Frontier Approach

2015 ◽  
Vol 5 (2) ◽  
Author(s):  
Ram Pratap Sinha
Keyword(s):  
Decision Making ◽  
Performance Evaluation ◽  
Mutual Funds ◽  
Mutual Fund ◽  
Multi Criteria Decision Making ◽  
Risk Framework ◽  
Programming Techniques ◽  
Risk Free Rate ◽  
Risk Ratios ◽  
Free Rate

Performance analysis of mutual funds is usually made on the basis of return-risk framework. Traditionally, excess return (over risk-free rate) to risk ratios were used for the purpose mutual fund evaluation. Subsequently, the application of non-parametric mathematical programming techniques in the context of performance evaluation facilitated multi-criteria decision making. However,the estimates of performance on the basis of conventional programming techniques like DEA and FDH are affected by the presence of outliers in the sample observations. The present, accordingly uses more robust benchmarking techniques for evaluating the performance od sectoral mutual fund schemes based on observations for the second half of 2010. The USP of the present study is that it uses two partial frontier techniques (Order-m and Order- a) which are less susceptible to the problem of extreme data.

scholarly journals BİST’DE İŞLEM GÖREN KÂĞIT VE KÂĞIT ÜRÜNLERİ BASIM VE YAYIN İŞLETMELERİNİN TOPSİS, PROMETHEE VE COPRAS YÖNTEMLERİYLE FİNANSAL PERFORMANSLARININ BELİRLENMESİ

2018 ◽  
Vol 6 (3) ◽  
Author(s):  
Fatma AKYÜZ ◽  
Tolga YEŞİL ◽  
İsmail KARA ◽  
Gürsel ERSOY
Keyword(s):  
Decision Making ◽  
Financial Statements ◽  
Assessment Methods ◽  
Production Costs ◽  
Financial Ratios ◽  
Preference Ranking ◽  
Multi Criteria Decision Making ◽  
Public Disclosure ◽  
The Public ◽  
Period Performance

Paper and Paper Products in the printing and publishing sector, production costs have increased due to the recent dependence on imports. At this point, Paper and Paper Products Printing and Publishing sector has been preferred and the leading companies in the sector have been tried to be determined by multi-criteria decision making methods. In this study, the financial performances of the paper and paper products printing and publishing sector traded in Borsa Istanbul between the years of 2012-2017, which is one of the multi criteria decision making methods, are the most important decision making methods, PROMETHEE (Preference Ranking Organization Method for Enrichment Evaluation and COPRAS (Complex Proportional Assessment) methods. The research sample consisted of 14 companies listed in the BIST. Firstly, the financial ratios used in multi-criteria decision making methods were explained and then the application steps of TOPSİS, PROMETHEE and COPRAS methods were included. During the calculation of financial ratios, the financial statements of the related companies between the years 2012-2017 were used in the light of the data obtained from the Public Disclosure Platform. As a result of the research, the 6-period performance of the companies have rewieved, between the years 2012-2017 was evaluated with 10 financial ratios and the results were compared.

Fusion of Fuzzy Multi-Criteria Decision Making Approaches for Discriminating Risk with Relate to Software Project Performance

2021 ◽  
pp. 346-373
Author(s):  
Arun Kumar Sangaiah ◽  
Vipul Jain
Keyword(s):  
Decision Making ◽  
Project Performance ◽  
Software Project ◽  
Multi Criteria Decision Making ◽  
Assessment Framework ◽  
Planning And Control ◽  
Project Complexity ◽  
Software Project Performance ◽  
And Performance ◽  
And Control

The prediction and estimation software risks ahead have been key predictor for evaluating project performance. Discriminating risk is vital in software project management phase, where risk and performance has been closely inter-related to each other. This chapter aims at hybridization of fuzzy multi-criteria decision making approaches for building an assessment framework that can be used to evaluate risk in the context of software project performance in following dimensions: 1) user, 2) requirements, 3) project complexity, 4) planning and control, 5) team, and 6) organizational environment. For measuring the risk for effectiveness of project performance, we have integrated Fuzzy Multi-Criteria Decision Making (FMCDM) and Fuzzy Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) approaches. Moreover the fusion of FMCDM and TOPSIS has not been adequately investigated in the exiting studies.

scholarly journals Intuitionistic Fuzzy Hierarchical Multi-Criteria Decision Making for Evaluating Performances of Low-Carbon Tourism Scenic Spots

2020 ◽  
Vol 17 (17) ◽  
pp. 6259
Author(s):  
Xuan Yang ◽  
Zhou-Jing Wang
Keyword(s):  
Decision Making ◽  
Performance Evaluation ◽  
Pairwise Comparison ◽  
Evaluation Index System ◽  
Multi Criteria Decision Making ◽  
Low Carbon ◽  
Decision Matrix ◽  
Intuitionistic Fuzzy ◽  
Linguistic Term ◽  
Performance Evaluation Index

Low-carbon tourism is an effective solution to cope with the goal conflict between developing tourist economy and responding to carbon emission reduction and ecological environment protection. Tourism scenic spots are important carriers of tourist activities and play a crucial role in low-carbon tourism. There are multiple factors affecting the low-carbon performance of a tourism scenic spot, and thus the performance evaluation and ranking of low-carbon tourism scenic spots can be framed as a hierarchical multi-criteria decision making (MCDM) problem. This paper develops a novel method to tackle hierarchical MCDM problems, in which the importance preferences of criteria over the decision goal and sub-criteria with respect to the upper-level criterion are provided by linguistic-term-based pairwise comparisons and the assessments of alternatives over each of sub-criteria at the lowest level are furnished by positive interval values. The linguistic-term-based pairwise comparison matrices are converted into intuitionistic fuzzy preference relations and an approach is developed to obtain the global importance weights of the lowest level sub-criteria. A multiplicatively normalized intuitionistic fuzzy decision matrix is established from the interval-value-based assessments of alternatives and a method is proposed to determine the intuitionistic fuzzy value based comprehensive scores of alternatives. A case study is offered to illustrate how to build a performance evaluation index system of low-carbon tourism scenic spots located at Zhejiang Province of China and show the use of the proposed intuitionistic fuzzy hierarchical MCDM method.

Novel Multi-criteria Decision-making Approaches Based on Hesitant Fuzzy Sets and Prospect Theory

2016 ◽  
Vol 15 (03) ◽  
pp. 621-643 ◽  
Author(s):  
Juan-Juan Peng ◽  
Jian-Qiang Wang ◽  
Xiao-Hui Wu
Keyword(s):  
Decision Making ◽  
Fuzzy Sets ◽  
Prospect Theory ◽  
Hausdorff Distance ◽  
Comparison Method ◽  
Distance Measures ◽  
Preference Ranking ◽  
Multi Criteria Decision Making ◽  
The Novel ◽  
Hesitant Fuzzy Sets

Hesitant fuzzy sets (HFSs), an extension of fuzzy sets, are considered to be useful in solving decision making problems where decision makers are unable to choose between several values when expressing their preferences. The purpose of this paper is to develop two hesitant fuzzy multi-criteria decision making (MCDM) methods based on prospect theory (PT). First, the novel component-wise ordering method for two hesitant fuzzy numbers (HFNs) is defined; however, this method does not consider the length of the two HFNs. Second, by utilizing the directed Hausdorff distance between two imprecise point sets, the generalized hesitant Hausdorff distance is developed, which overcomes the shortcomings of the existing distance measures. Third, based on the proposed comparison method and distance, as well as PT, the extended TODIM and Preference Ranking Organization Method for Enrichment Evaluations (PROMETHEE) approaches are developed in order to solve MCDM problems with hesitant fuzzy information. Finally, a practical example is provided to illustrate the pragmatism and effectiveness of the proposed approaches. Sensitivity and comparison analyses are also conducted using the same example. The findings indicate that the proposed methods do not require complicated computation procedures, yet still yield a reasonable and credible solution.

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