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Selecting the Best Project Using the Fuzzy ELECTRE Method

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  • Babak Daneshvar Rouyendegh
  • Serpil Erol

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.

Suggested Citation

  • Babak Daneshvar Rouyendegh & Serpil Erol, 2012. "Selecting the Best Project Using the Fuzzy ELECTRE Method," Mathematical Problems in Engineering, Hindawi, vol. 2012, pages 1-12, September.
    • Handle: RePEc:hin:jnlmpe:790142
    DOI: 10.1155/2012/790142
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    Cited by:

    1. Camelia Delcea & Ionuț Nica & Irina Georgescu & Nora Chiriță & Cristian Ciurea, 2024. "Integrating Fuzzy MCDM Methods and ARDL Approach for Circular Economy Strategy Analysis in Romania," Mathematics, MDPI, vol. 12(19), pages 1-35, September.
    2. Erick P. Massami & Malima M. Manyasi, 2021. "Analysis of determinants of work performance for seafarers based on fuzzy Electre model," Journal of Shipping and Trade, Springer, vol. 6(1), pages 1-20, December.
    3. Quezada, Luis E. & López-Ospina, Héctor A. & Ortiz, César & Oddershede, Astrid M. & Palominos, Pedro I. & Jofré, Paulina A., 2022. "A DEMATEL-based method for prioritizing strategic projects using the perspectives of the Balanced Scorecard," International Journal of Production Economics, Elsevier, vol. 249(C).

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