Evaluating large, high-technology project portfolios using a novel interval-valued Pythagorean fuzzy set framework: An automated crane project case study

Abstract

The contemporary organization relies increasingly on developing large, high technology projects in order to gain local and global competitive advantage. Uncertainty and the complexity of project evaluation requires improved and tailored decision making support systems. A new framework for high technology project portfolio evaluation is introduced. Novel development of an interval-valued Pythagorean fuzzy set (IVPFS) approach is shown to accommodate degrees of membership, non-membership and hesitancy in the evaluation process. Developed methods of linear assignment, IVPFS ranking, IVPFS knowledge index, and IVPFS comparison provide a new framework for group evaluation based on a weighting for each decision expert. The framework is developed as a last aggregation which avoids information loss and introduces a new aggregation process. A novel multi-objective model is then introduced to address project portfolio selection while optimizing the value of the portfolio in terms of resilience (the risk of disruption and delays) and skill utilization (assignment of human resources). The applicability of this framework is demonstrated through a case study in high technology portfolio evaluation. The applied case study shows that the presented framework can be applied as the core to a high technology evaluation decision support system.

Assessment and selection of smart agriculture solutions using an information error‐based Pythagorean fuzzy cloud algorithm

“…Therefore, our method can describe the error characteristics of evaluation information and solve the shortcomings of existing methods. Furthermore, the aggregation of multi-index information in existing methods [11][12][13]18,20,40,53 is based on the traditional geometric weighted average or arithmetic weighted average, without considering the relationship between indexes. In an actual evaluation based on a multi-index structure, the evaluation value of one index may be affected by other indexes.…”

“…Then, Yang and Feng presented the Pythagorean fuzzy Petri net to evaluate the security issues of a civil aviation airport security inspection information system 52 . Mohagheghi et al applied the interval PFS to analyze the evaluation and selection of large, high‐technology project portfolios 53 . Further, some scholars introduced artificial intelligence technology to develop many PFS‐based artificial intelligence algorithms and apply them to specific fields.…”

“…52 Mohagheghi et al applied the interval PFS to analyze the evaluation and selection of large, high-technology project portfolios. 53 Further, some scholars introduced artificial intelligence technology to develop many PFS-based artificial intelligence algorithms and apply them to specific fields. For instance, Ma et al developed the PFS C-means algorithm to conduct image segmentation.…”

A Web-based DSS: Information System for Sustainable Fisheries Supply Chain in Coastal Communities of Small Islands Indonesia

“…Information technology enables the modern business to have an extensive cooperation network, allowing them to compete and survive in a highly competitive environment, mainly when dealing with uncertain situations [1] [2]. One of the methods used to improve network cooperation is sharing information held by each business at the supply chain level.…”

A Type-2 Fuzzy Optimization Model for Project Portfolio Selection and Scheduling Incorporating Project Interdependency and Splitting

“…Because of various kinds of complexities in reality, project managers cannot always define the exact membership function to show an uncertain boundary by type-1 fuzzy sets (T1FSs). Therefore, type-2 fuzzy set (T2FS) is used to pass on the vulnerability in the membership function and enables further degrees of freedom as compared to T1FS, by regarding remarkable engineering applications (e.g., Mirnezami et al, 2020;Mohagheghi et al, 2020;Haghighi et al, 2019a;Eshghi et al, 2019;Dorfeshan et al, 2019). Chen and Askin (2009) presented a mixed-integer programming model aiming at maximizing economic issue by hiring an approach to deal with the problem.…”