Project Procurement Method Selection Using a Multi-Criteria Decision-Making Method with Interval Neutrosophic Sets

Su, Limin; Wang, Tianze; Wang, Lunyan; Li, Huimin; Cao, Yongchao

doi:10.3390/info10060201

Cited by 4 publications

(3 citation statements)

References 29 publications

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“…On the basis of interval-valued intuitionistic fuzzy set (IVIFS) theory, An et al (2018) proposed a group decision making method for PPP model selection. Su et al (2019) introduced the similarity measure with interval neutrosophic information, by which a PPP model selection method with interval neutrosophic set is proposed.…”

Section: Decision Making Methods For Ppp Selectionmentioning

confidence: 99%

Public-Private Partnership Decision Making Based on Correlation Coefficients of Single-Valued Neutrosophic Hesitant Fuzzy Sets

Meng¹,

Tang²,

Zhang³

et al. 2020

Informatica

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Public-private partnership (PPP) is regarded as an innovative way to the procurement of public projects. Models vary with PPP projects due to their differences. The evaluation criteria are usually complex and the judgments offered by decision makers (DMs) show the characteristics of fuzziness and uncertainty. Considering these cases, this paper first analyses the risk factors for PPP models and then proposes a new method for selecting them in the setting of single-valued neutrosophic hesitant fuzzy environment. To achieve these purposes, two single-valued neutrosophic hesitant fuzzy correlation coefficients are defined to measure evaluated PPP models. Considering the weights of the risk factors and their interactions, two single-valued neutrosophic hesitant fuzzy 2-additive Shapley weighted correlation coefficients are defined. When the 2-additive measure on the risk factor set is not exactly known, several distance measure-based programming models are constructed to determine it. Based on these results, an algorithm for evaluating PPP models with single-valued neutrosophic hesitant fuzzy information is developed. Finally, a practical numerical example is provided to verify the validity and feasibility of the new method.

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Section: Decision Making Methods For Ppp Selectionmentioning

confidence: 99%

Public-Private Partnership Decision Making Based on Correlation Coefficients of Single-Valued Neutrosophic Hesitant Fuzzy Sets

Meng¹,

Tang²,

Zhang³

et al. 2020

Informatica

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“…In the area of project management, Saleh Al-Subhi et al [24] use the neutrosophic sets and propose a new decision making model based on neutrosophic cognitive maps and compare the proposed approach with a traditional model in order to prove its efficiency and efficacy. Perez Pupo et al [25] use the neutrosophic theory for project management decisions, while Su et al [26] develop a project procurement method selection model under an interval neutrosophic environment. The results gathered in the papers are compared with exiting methods and the results are encouraging.…”

Section: Literature Reviewmentioning

confidence: 99%

Neutrosophic Portfolios of Financial Assets. Minimizing the Risk of Neutrosophic Portfolios

2019

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This paper studies the problem of neutrosophic portfolios of financial assets as part of the modern portfolio theory. Neutrosophic portfolios comprise those categories of portfolios made up of financial assets for which the neutrosophic return, risk and covariance can be determined and which provide concomitant information regarding the probability of achieving the neutrosophic return, both at each financial asset and portfolio level and also information on the probability of manifestation of the neutrosophic risk. Neutrosophic portfolios are characterized by two fundamental performance indicators, namely: the neutrosophic portfolio return and the neutrosophic portfolio risk. Neutrosophic portfolio return is dependent on the weight of the financial assets in the total value of the portfolio but also on the specific neutrosophic return of each financial asset category that enters into the portfolio structure. The neutrosophic portfolio risk is dependent on the weight of the financial assets that enter the portfolio structure but also on the individual risk of each financial asset. Within this scientific paper was studied the minimum neutrosophic risk at the portfolio level, respectively, to establish what should be the weight that the financial assets must hold in the total value of the portfolio so that the risk is minimum. These financial assets weights, after calculations, were found to be dependent on the individual risk of each financial asset but also on the covariance between two financial assets that enter into the portfolio structure. The problem of the minimum risk that characterizes the neutrosophic portfolios is of interest for the financial market investors. Thus, the neutrosophic portfolios provide complete information about the probabilities of achieving the neutrosophic portfolio return but also of risk manifestation probability. In this context, the innovative character of the paper is determined by the use of the neutrosophic triangular fuzzy numbers and by the specific concepts of financial assets, in order to substantiating the decisions on the financial markets.

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“…For example, An et al [1] established a group decision-making model for PDS selection under the interval intuitionistic fuzzy setting, wherein a new weight determination for a decision-maker is introduced by using the information utility level. Su et al [10] developed a project procurement method selection with interval neutrosophic sets from a multi-criteria decision-making view. Mafakheri et al [11] utilized the Analytic Hierarchy Process (AHP) interval to determine the interval priorities for alternative PDSs, which were then ranked using rough set theory.…”

Section: Introductionmentioning

confidence: 99%

Decision-Making for Project Delivery System with Related-Indicators Based on Pythagorean Fuzzy Weighted Muirhead Mean Operator

Cao

2020

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An appropriate project delivery system plays an essential role in sustainable construction project management. Due to the complexity of practical problems and the ambiguity of human thinking, selecting an appropriate project delivery system (PDS) is an enormous challenge for owners. This paper aims to develop a PDS selection method to deal with the related-indicators case by combining the advantages of Pythagorean fuzzy sets (PFSs) and Pythagorean fuzzy weighted Muirhead mean (PFWMM) operators. The contributions of this paper are as follows: (1) This study innovatively introduced the PFWMM operator to deal with PDS selection problems for the case of the relevance among all indicators affecting PDSs selection in a complex environment. (2) A new method of solving indicators’ weights was proposed to adapt to the related-indicators PDS selection problem, through investigating the differences between the ideal PDS and the alternative PDS under all indicators. (3) A decision-making framework for PDS selection was constructed by comprehensive use of the advantages of PFSs and the PFWMM operator in dealing with related-indicators PDS decision-making problems. An example of selecting a PDS is exhibited to illustrate the effectiveness and applicability of the proposed method.

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Project Procurement Method Selection Using a Multi-Criteria Decision-Making Method with Interval Neutrosophic Sets

Cited by 4 publications

References 29 publications

Public-Private Partnership Decision Making Based on Correlation Coefficients of Single-Valued Neutrosophic Hesitant Fuzzy Sets

Public-Private Partnership Decision Making Based on Correlation Coefficients of Single-Valued Neutrosophic Hesitant Fuzzy Sets

Neutrosophic Portfolios of Financial Assets. Minimizing the Risk of Neutrosophic Portfolios

Decision-Making for Project Delivery System with Related-Indicators Based on Pythagorean Fuzzy Weighted Muirhead Mean Operator

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