Title :
Evaluate projects by using multiple criteria decision making techniques
Author :
Mahmoodzadeh, S. ; Pariazar, M. ; Zaeri, M.S. ; Torkamani, M.A.
Author_Institution :
Univ. of Allameh Tabatabaee, Tehran
Abstract :
In the economic analysis of projects available to the firm, the objective is to decide, from the economic data available, whether or not a given project is acceptable to the firm. There are four common methods of comparing alternative investments: net present value, rate of return, benefit-cost analysis and pay back period. In this article by utilizing improved analytical hierarchy process by rough set theory, firstly we try to calculate weight of each method. Then by implementing TOPSIS algorithm assessment of projects has been done. Obtained results have been tested in a numerical example.
Keywords :
cost-benefit analysis; decision making; economics; investment; project management; rough set theory; TOPSIS algorithm assessment; analytical hierarchy process; cost benefit analysis; economic analysis; investment; multiple criteria decision making technique; pay back period; project management; rate of return; rough set theory; Decision making; Design engineering; Economic indicators; Industrial engineering; Integer linear programming; Investments; Mathematical model; Operations research; Set theory; Testing; AHP; Project Selection; Rough Set Theory; TOPSIS;
Conference_Titel :
Industrial Engineering and Engineering Management, 2007 IEEE International Conference on
Conference_Location :
Singapore
Print_ISBN :
978-1-4244-1529-8
Electronic_ISBN :
978-1-4244-1529-8
DOI :
10.1109/IEEM.2007.4419194
