An Investigation into the Decision Makers’s Risk Attitude Index Ranking Technique for Fuzzy Critical Path Analysis

Abstract

In this paper, the effectiveness In this paper, the effectiveness In this paper, the effectiveness In this paper, the effectiveness of the decision maker's risk attitude index for fuzzy cri of the decision maker's risk attitude index for fuzzy cri of the decision maker's risk attitude index for fuzzy cri of the decision maker's risk attitude index for fuzzy cri considered. considered. considered. considered. The fuzzy CPM algorithm waThe fuzzy CPM algorithm wa The fuzzy CPM algorithm wa The fuzzy CPM algorithm wa activities times as well activities times as well activities times as well activities times as well as the total float of project activities as the total float of project activities as the total float of project activities as the total float of project activities problem problem problem problem, the decision maker's risk attitude index ranking method produces unrealistic results when the decision , the decision maker's risk attitude index ranking method produces unrealistic results when the decision , the decision maker's risk attitude index ranking method produces unrealistic results when the decision , the decision maker's risk attitude index ranking method produces unrealistic results when the decision maker maker maker maker' ' ' 's attitude towards risk was neutral. s attitude towards risk was neutral. s attitude towards risk was neutral. s attitude towards risk was neutral. pr pr pr produced realistic results. The study shows that the utility of the ranking technique may be limited by the risk index oduced realistic results. The study shows that the utility of the ranking technique may be limited by the risk index oduced realistic results. The study shows that the utility of the ranking technique may be limited by the risk index oduced realistic results. The study shows that the utility of the ranking technique may be limited by the risk index associated with the problem. Therefore users of the technique for ranking fuzzy numbers have to proceed with associated with the problem. Therefore users of the technique for ranking fuzzy numbers have to proceed with associated with the problem. Therefore users of the technique for ranking fuzzy numbers have to proceed with associated with the problem. Therefore users of the technique for ranking fuzzy numbers have to proceed with caution. caution. caution. caution.

The Intelligence of Octagonal Fuzzy Number to Determine the Fuzzy Critical Path: A New Ranking Method

“…The calculations are carried out using trapezoidal fuzzy numbers ranking formula by Ravi Shankar et al [18] Table 6: Total float of each activity in the fuzzy project network. (6,7,8,9,10,11,12,13) (0, 0, 0, 0, 4, 10, 17, 22) 4-7 (10,12,14,15,15,16,18,20) (0, 0, 0, 4, 8, 14, 21, 28) 5-7 (12,12,14,15,16,17,18,20) (0, 0, 0, 0, 3, 9, 16, 21) 6-7 (13,13,15,16,17,18,19,20) (0, 0, 0, 0, 4, 10, 17, 22) Table 7: Total fuzzy slack time for each path in fuzzy project network. By using Area − , Area − , Area + , Area + , and * from this we can get the values of * , * , and Score( * ) values.…”

“…Chanas and Radosinski [14] analyzed the use of fuzzy numbers in the network planning. M. H. Oladeinde and C. A. Oladeinde [15] considered the effectiveness of the decision-makers' risk attitude index for fuzzy critical path analysis. Han et al [16] presented the fuzzy critical path method to find out airport's ground critical operation processes.…”

A Permutation Encoding Technique Applied to Genetic Algorithm Solution of Resource Constrained Project Scheduling Problem

“…Among the scheduling problems addressed, project scheduling has been the most prominent. Traditional scheduling methods such as PERT (The Program Evaluation and Review Technique), [1,2] and CPM (Critical Path Method), are not enough for Production scheduling because they assume that resource availability is unlimited. This assumption is not valid in most practical situations, in which there exist definite limit on the amount of resources available and these resources (renewable nonrenewable) are shared by a number of activities or even projects.…”

Metric Distance Ranking Technique for Fuzzy Critical Path Analysis

“…A number of fuzzy ranking methods have been used in the literature. The Decision Makers risk attitude index ranking technique has been used by a number of authors namely Oladeinde and Oladeinde (2014) and Liang and Han (2004). Maximizing-Minimizing points have been used by Salashshour et al (2011) for ranking fuzzy numbers.…”

“…This is a very challenging job (Oladeinde and Oladeinde, 2014) as late completion in most cases attracts a penalty. It is not uncommon in the construction of industrial plants to provide performance incentives to contractors for early completion, quality work and adherence to safety rules and regulations (Bubshait, 2003).…”