A fuzzy assessment framework to select among transportation investment projects in Turkey

Authors:
Vildan Özkır;Tufan Demirel
Affiliations:
Industrial Engineering Department, Yıldız Technical University, 34349 Beşiktaş, Turkey;Industrial Engineering Department, Yıldız Technical University, 34349 Beşiktaş, Turkey
Venue:
Expert Systems with Applications: An International Journal
Year:
2012

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Abstract

Selecting the best transportation investment project (TIP) is often a difficult task, since many social, environmental and economic criteria have to be considered simultaneously. Evaluating a set of different projects, especially the best set of alternatives, portfolios, is even more complex. Pursuing the goal of selecting the best TIP portfolio, we propose a fuzzy assessment method to aid the selection process of a multi-criterion project by utilizing the concept of entropy and interval normalization procedure in a fuzzy analytic hierarchy process (F-AHP). Then, regarding this informative phase, we propose a fuzzy linear programming model to select the best TIP portfolio under uncertain cost pressure. A real case study is conducted to illustrate the efficiency of the proposed method.