INVESTMENT PROJECT SELECTION BY APPLYING COPRAS METHOD AND IMPRECISE DATA

Investment projects can have a significant impact on the functioning and development of acompany. Therefore, the selection of one or more investment projects from the set of possible is animportant and difficult task for decision makers. This paper considers the investment projectsselection based on financial analysis criteria and use of imprecise data. In the proposed model, thealternative projects performances are expressed using crisp and interval values, and then the bestproject from the available is selected by using COPRAS and COPRAS-G methods. A numericalexample is given to demonstrate the applicability and effectiveness of the proposed approach

Digitizing grey portions of e-governance

Purpose: The purpose of this research paper is to assess e-governance efficacy in various sectors of India. The paper develops on Grey System Theory (GST) methodology and enlightens grey portions of e-governance in select sectors. Research study identifies few grey criteria which affect implementation of information and communication technology (ICT) applications to support sustainable e-governance. Such criteria are related to information security breaches, information technology (IT) policy implementation, investments and strategic advantages for the various sector developments. Design/methodology/approach: Considering “information” as a sensitive element to security for administration and part of dark portion to Indian economy, GST-based COmplex PRroportional ASsessment (COPRAS-G) method is adopted to assess the e-governance efficacy. The method provides flexible multicriteria decision-making (MCDM) approach to assess e-governance in prioritizing the sector alternatives of future strategic development. Priority order of select sectors is estimated, and COPRAS-G method is used in the research study to support decision-making on e-governance. Study compares ten major gross domestic product-dependent sectors based on few grey criteria. These criteria are chosen based on authors’ perspective on this study and feedback received from government officials of district levels under the Digital India-training programme. To address the subjectivity that lies in e-governance grey areas of sector, criteria are also weighted using fuzzy scale. Later methodology-based results are presented to draw a strategic road map for strategic development of the country. Findings: On applying COPRAS-G method to predict pessimistic, optimistic and realistic scenarios of e-governance implementation across the ten sectors, high priory order in realistic scenario of results shows that implementation of ICT applications for e-governance should be in the sectors such as environment, climate change and in the railways. Industrial sector is also ranked as the preferred one over the other sectors on the basis of e-governance efficacy assessment. Research limitations/implications: Here COPRAS-G method is used as MCDM techniques. However, few other MCDM techniques such as GRA, DRSA, VIKOR, SMAA, SWARA and SAW can be also explored to outrank various Indian sectors to deal with subjectivity in decision-making. Practical implications: Implementation of ICT applications to support e-governance varies from sector to sector. ICT-based governance involves high degree of complexity in driving the operations for development of respective sectors. Therefore, government and policymakers need more flexibility to overcome present barriers of sector development. Such research can support decision-making where GST-based COPRAS-G method is able to capture and address the breaches of information security. Moreover, management concern for sector development has been presented on the basis of pessimistic, optimistic and realistic scenarios more precisely. Social implications: The results can provide guidance to the academicians, policymakers and public sectors highlighting various possible measures to handle the security breaches in multi-facet intention of sustainable development. The outcomes from MCDM framework can also help in drawing a rough trajectory of strategy, i.e. development of ICTs applications and e-governance process. Originality/value: This paper can supplement and act as the support for decision-making in conflicting situations on different flexible scenarios. Moreover, such work can synergize conflicting ideas of decision makers, academics and various other stakeholders of the Indian IT sector

Selection method by fuzzy set theory and preference matrix

In fuzzy decision making problems, fuzzy ranking is one of the most preferred aeras. The aim of this paper to develop a new ranking method which is reliable and doesnot need tremendous arithmetic calculations. Also it can be used for all type of fuzzy numbers which are represented as crisp form or in linguistic form. Fuzzy multi criteria decision making commonly employs methods such as ordering method,Fuzzy Analytic Hierarchy Process [FAHP], Fuzzy Technique for Order Preference by Similarity to Ideal Solution [FTOPSIS]and hybrid method. The FAHP commonly uses triangular fuzzy numbers and trapezoidal fuzzy numbers while the FTOPSIS method identifies the best alternative as the one that is nearest to the positive ideal solution and farthest to the negative ideal solution. Although both these methods have been widely used, they have their drawbacks. The accuracy of these methods decreases as the number of alternative increases i.e. the more complex the problem, less the accuracy and all the methods have many computations. In order to overcome this problem, we propose a method which is a combination of method of Blin and Whinston(1973) and method of Shimura(1973). This way the advantages of both the methods may be utilized to arrive at a decision that involves vague data. In this  paper, we use the concept of preference matrix to find the membership grades and calculate the ranking. Keywords: Fuzzy set, preference matrix, multi person decision making, multi criteria decision making(MCDM), relativity function matrix

A COPRAS-F base multi-criteria group decision making approach for site selection of wind farm

Today global warming is on the rise and the natural resources are getting consumed at a faster rate. Power consumption has increased many folds to cater the human need. Thus renewable energy resources are the only option available at this juncture. Wind energy is one of the renewable energy. Location selection for wind farm takes an important role on power generation. However, the location selection is a complex multicriteria problem due to the criteria factors which are conflicting in nature as well as uncertain. The process becomes more complex when a group of decision makers are involved in decision making. In the present study, a COPRAS (COmplex PRoportional ASsessment) based multi-criteria decision-making (MCDM) methodology is done under fuzzy environment with the help of multiple decision makers. More specifically, this study is aimed to focus the applicability of COPRAS-F as a strategic decision making tools to handle the group decision-making problems

Application of Fuzzy AHP and COPRAS to Solve the Supplier Selection Problems

Supply chain management (SCM) can be considered as a key component of competitive strategy to enhance organizational productivity, performance and profitability. In this paper, designed Questionnaires are sent to 5 professional experts in different departments of ABZARSAZI COMPANY in Iran. Proposed approach is based on Fuzzy Analytic Hierarchy Process (FAHP) and COPRAS (Complex Proportional Assessment) methods. The major purpose of this paper is ranking the suppliers of ABZARSAZI COMPANY by using a hybrid Fuzzy AHP and COPRAS approaches. Finally, results of this research, give an evaluation method for companies in order to help managers to identify and select the best suppliers

QoS based Web Service Selection and Multi-Criteria Decision Making Methods

With the continuing proliferation of web services offering similar efficacies, around the globe, it has become a challenge for a user to select the best web service. In literature, this challenge is exhibited as a 0-1 knapsack problem of multiple dimensions and multiple choices, known as an NP-hard problem. Multi-Criteria Decision Making (MCDM) method is one of the ways which suits this problem and helps the users to select the best service based on his/her preferences. In this regard, this paper assists the researchers in two conducts: Firstly, to witness the performance of different MCDM methods for large number of alternatives and attributes. Secondly, to perceive the possible deviation in the ranking obtained from these methods. For carrying out the experimental evaluation, in this paper, five different well-known MCDM methods have been implemented and compared over two different scenarios of 50 as well as 100 web services, where their ranking is defined on an account of several Quality of Service (QoS) parameters. Additionally, a Spearman’s Rank Correlation Coefficient has been calculated for different pairs of MCDM methods in order to provide a clear depiction of MCDM methods showing the least deviation in their ranking. The experimental results comfort web service users in conquering an appropriate decision on the selection of suitable service

A NEW INTEGRATED GREY MCDM MODEL: CASE OF WAREHOUSE LOCATION SELECTION

Warehouses link suppliers and customers throughout the entire supply chain. The location of the warehouse has a significant impact on the logistics process. Even though all other warehouse activities are successful, if the product dispatched from the warehouse fails to meet the customer needs in time, the company may face with the risk of losing customers. This affects the performance of the whole supply chain therefore the choice of warehouse location is an important decision problem. This problem is a multi-criteria decision-making (MCDM) problem since it involves many criteria and alternatives in the selection process. This study proposes an integrated grey MCDM model including grey preference selection index (GPSI) and grey proximity indexed value (GPIV) to determine the most appropriate warehouse location for a supermarket. This study aims to make three contributions to the literature. PSI and PIV methods combined with grey theory will be introduced for the first time in the literature. In addition, GPSI and GPIV methods will be combined and used to select the best warehouse location. In this study, the performances of five warehouse location alternatives were assessed with twelve criteria. Location 4 is found as the best alternative in GPIV. The GPIV results were compared with other grey MCDM methods, and it was found that GPIV method is reliable. It has been determined from the sensitivity analysis that the change in criteria weights causes a change in the ranking of the locations therefore GPIV method was found to be sensitive to the change in criteria weights

Using fuzzy PROMETHEE to select countries for developmental Aid

Wealthy nations continue to demonstrate their unwavering support to improving conditions and the general well-being of poor countries in spite of the recent economic crises. However, as developmental aid relatively shrinks, both Aid donors and recipient countries have shown keen interest in methodologies used in evaluating developmental assistance programs. Evaluation of aid programs is seen as a complex task mainly because of the several non-aid factors that tend to affect overall outcomes. Adding to the complexity are the subjective sets of criteria used in Aid evaluations programs. This paper proposes a two stage framework of fuzzy TOPSIS and sensitivity analysis to demonstrate how aid-recipient countries can be evaluated to deepen transparency, fairness, value for money and sustainability of such aid programs. Using the Organisation for Economic Co-operation and Development (OECD) set of subjective criteria for evaluating aid programs; a numerical examplepre-defined by linguistic terms parameterized by triangular fuzzy numbers is provided to evaluate aid programs. Fuzzy PROMETHEE is used in the first stage to evaluate and rank aid-recipients followed by a comparative analysis with Fuzzy VIKOR and Fuzzy TOPSIS to ascertain an accurateness of the method used. A sensitivity analysis is further added that anticipates possible influences from lobbyists and examines the effect of that bias in expert ratings on the evaluation process. The result shows a framework that can be employed in evaluating aid effectiveness of recipient-countries

Integrated Frameworks for Effective Multi-criteria Decision Making in Reliability Centred Maintenance of Industrial Machines

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