A project prioritization approach considering uncertainty, reliability, criteria prioritization, and robustness

Jafarzadeh, Hamed; Dahooie, Jalil Heidary; Akbari, Pouria; Qorbani, Ali Reza

doi:10.1016/j.dss.2022.113731

Cited by 25 publications

(7 citation statements)

References 67 publications

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“…Fig . 1(A and B) illustrates the parts 𝐴 ̃ and 𝐵 ̃ of a simple Znumber 32 . Usually, 𝐴 ̃ and 𝐵 ̃ are based on personal opinions and can be expressed using Simple words 33 .…”

Section: Z-numbermentioning

confidence: 99%

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An integrated Z-number and intuitionistic fuzzy sets for considering uncertainty in the risk assessment using the SHIPP methodology

Aliabadi,

Abbassi,

Moshiran

et al. 2024

Preprint

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Uncertainty presents a challenge in assessing risks, often resulting in outcomes that diverge from reality. System Hazard Identification, Prediction and Prevention (SHIPP), as one of the emerging risk assessment methods, aims to predict and effectively prevent accidents. This study aims to enhance the prediction potential of the SHIPP method by reducing uncertainty by combining Z-numbers and intuitionistic fuzzy logic. The experts' opinions and confidence levels regarding the prior probability of basic events (BEs) were measured using Intuitionistic Z-numbers (IZN). Subsequently, the SHIPP method utilized the obtained results and the actual data on unusual events in the industry to determine the posterior probability of barrier failure and consequences. The practical application of the developed methodology was demonstrated by selecting spherical tanks containing LPG. The results indicated that employing IZN to estimate the prior probability of BEs reduces uncertainty in determining the posterior probability of barrier failure and subsequent consequences. Consequently, enhancing the predictive accuracy of the SHIPP method in estimating the likelihood of unusual events will significantly improve the quality of risk management.

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Section: Z-numbermentioning

confidence: 99%

“…Consider Z = (𝐴 ̃, 𝐵 ̃ ) as a z-number, where 𝐴 ̃ = {(x, μ 𝐴 ̃(x)) | x ∈ [0, 1] } and 𝐵 ̃ = {(x, μ 𝐵 ̃(x)) | x ∈ [0, 1] } represent triangular membership functions. Equations ( 9) to (10) can be employed to calculate a Z-number's corresponding regular fuzzy number 32 .…”

Section: Z-numbermentioning

confidence: 99%

An integrated Z-number and intuitionistic fuzzy sets for considering uncertainty in the risk assessment using the SHIPP methodology

Aliabadi,

Abbassi,

Moshiran

et al. 2024

Preprint

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show abstract

“…On one hand, given the rough number’s excellent performance in manipulating subjectivity, it is widely used in alternative selection in product design [ 8 ]. On the other hand, the Z-number is used to solve problems considering uncertainty and reliability [ 9 , 10 ]. Hence, the rough Z-number is used in this study.…”

Section: Introductionmentioning

confidence: 99%

A comprehensive mortise and tenon structure selection method based on Pugh’s controlled convergence and rough Z-number MABAC method

Shang

Chen

et al. 2023

PLoS ONE

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Mortise and tenon joints are widely used in the building and furniture industries because of their excellent mechanical and eco-friendly properties. In real-life cases, there are usually many available alternative structures for a joint area, it is a challenge to select a proper structure from massively available alternatives. This paper aims to select a proper multiple attribute decision-making method based on massive alternatives and unreliable, uncertain and subjective information. Pugh’s controlled convergence, rough number, Z-number, consistency theory and Shannon entropy are integrated and proposed an improved rough Z-number Multi-Attributive Border Approximation Area Comparison (MABAC) method. Firstly, Pugh’s controlled convergence is a selection method, simple and rapid, presented in the first phase to eliminate most of the alternatives. In the second phase, an integrated method is proposed. The consistency theory, distance measurement and the Z-number are initially aggregated to calculate the expert weight. The entropy method is then presented to determine the criteria weight. The alternatives are then ranked and the optimal mortise and tenon joint is selected based on the rough Z-number MABAC method. A real-life case is presented, and the proposed method is implemented in the joint of a bucket cabinet. Finally, the efficiency and effectiveness of the proposed method are proved by the case, sensitivity analysis and related comparisons.

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“…For instance, deep learning can be used to estimate the corporate default rate, but it can also be used to recommend an appropriate portfolio to customers. While recent waves of digital innovations have led to a positive outlook for various fintech application projects, traditional and commercial bank managers and executives face challenging tasks in prioritizing investments and developments [ 16 ]. Therefore, it is necessary to understand the interrelationship between the various services that banks offer and the different types of fintech applications that are available.…”

Section: Introductionmentioning

confidence: 99%

CTM and QFD analysis: Framework for fintech adoption priority in commercial banks

Kang,

Sohn

2023

PLoS ONE

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As financial technology (fintech) is developing rapidly, many commercial banks experience difficulty deciding what kind of fintech to primarily focus on when managing their business. Owing to limited resources and assets, there is a practical need for guidelines for banks’ investments in fintech. This study provides a systemic procedure to identify promising fintech groups and their investment priorities. We propose a QFD-based decision support framework for banks by considering both aspects of the emerging fintech push identified using patent topic modeling and the market pull of banking services obtained from a survey of the literature and experts. An empirical application of the proposed QFD framework to major South Korean banks shows that transaction support technology, secure transactions, and trading platforms are the three most important fintech categories. The QFD results are utilized to guide individual banks for further investment strategies such as mergers and acquisitions, strategic partnerships, and spin-off operations. The proposed framework can be generalized and applied to other financial service firms.

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A project prioritization approach considering uncertainty, reliability, criteria prioritization, and robustness

Cited by 25 publications

References 67 publications

An integrated Z-number and intuitionistic fuzzy sets for considering uncertainty in the risk assessment using the SHIPP methodology

An integrated Z-number and intuitionistic fuzzy sets for considering uncertainty in the risk assessment using the SHIPP methodology

A comprehensive mortise and tenon structure selection method based on Pugh’s controlled convergence and rough Z-number MABAC method

CTM and QFD analysis: Framework for fintech adoption priority in commercial banks

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