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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 cri...

In order to resolve cases related to an alternative selection problems (MADM problems), various methods have been applied. Many methods are used to solve the MADM problems, which sometimes give different results. To resolve MADM problem, we can use AHP and TOPSIS methods. The advantages of AHP method are it can provide solutions through the analysis of quantitative and qualitative decision. In ...

Fuzzy Technique for Order Preference by Similarly to Ideal Solution (TOPSIS) is one of the most commonly used approaches in solving numerous multiple criteria decision making problems. It has been widely used in ranking of multiple alternatives with respect to multiple criteria with the superiority of fuzzy set type-1 and subjective weights. Recently, fuzzy TOPSIS has been merged with interval ...

Ranking competing alternatives in terms of their overall performance with respect to some criterions in fuzzy environment is possible by the use of fuzzy TOPSIS methodology using interval-valued fuzzy-sets concepts. This author presents an effective fuzzy multi-criteria method based upon the fuzzy model and the concepts of positive ideal and negative ideal solution points for prioritizing alter...

Purpose Making techniques PROMETHEE, direction of research in this emerging field. Design/Methodology/Approach: literature related to MCDM techniques PROMETHEE, ELECTRE, VIKOR and TOPSIS. Literature has been segregated to understand various issues and work related to MCDM techniques PROMETHEE, ELECTRE, VIKOR and TOPSIS. A detailed review is used to sort out the literature and develop the resear...

In this paper, one of the multi-criteria models in making decision, a Technique for Order Preference by Similarity to an Ideal Solution (TOPSIS), is described. Some of the advantages of TOPSIS methods are: simplicity, rationality, comprehensibility, good computational efficiency and ability to measure the relative performance for each alternative in a simple mathematical form. The paper has a r...

Multicriteria decision making ~MCDM! methods can be powerful aids for evaluating patients’ medical information in medical diagnostic systems. Technique ordered preference by similarity to the ideal solution ~TOPSIS! is one of the more widely used MCDM methods in decision support systems. For the purpose of this work, the TOPSIS method is modified into a more suitable form and used for the imple...