Risk Assessment for Failure Mode and Effects Analysis Using the Bonferroni Mean and TODIM Method

Zhu, Jun; Shen, Bin; Wang, Rui; Chin, Kwai‐Sang

doi:10.3390/math7060536

Cited by 26 publications

(12 citation statements)

References 53 publications

(81 reference statements)

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“…Ghoushchi et al (2019) MOORA and Fuzzy Best-Worst Method Providing a new score to cover some of the shortcomings of traditional RPN score. Zhu et al (2019) TODIM Presenting a comprehensive FMEA model that could efficiently handle the preference interdependence.…”

Section: Resultsmentioning

confidence: 99%

“…In this respect, the TODIM method is used in this study. Although there are studies that integrated TODIM method with FMEA (Jia et al, 2017;Zhu et al, 2019;Huang et al, 2019), these studies used TODIM for the prioritization of the risk factors, however, did not consider the details of prospect theory. On the other hand, in this study, the focus is on decision-makers' risk attitudes by considering different aspects of prospect theory including loss aversion, reference point and diminishing sensitivity, and integrate them with FMEA.…”

Section: Methodsmentioning

confidence: 99%

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Decision-making for risk evaluation: integration of prospect theory with failure modes and effects analysis (FMEA)

Sağnak

Kazançoğlu

Ozen

et al. 2020

IJQRM

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PurposeThe aim of the present study is to overcome some of the limitations of the FMEA method by presenting a theoretical base for considering risk evaluation into its assessment methodology and proposing an approach for its implementation.Design/methodology/approachFuzzy AHP is used to calculate the weights of the likelihood of occurrence (O), severity (S) and difficulty of detection (D). Additionally, the prospect-theory-based TODIM method was integrated with fuzzy logic. Thus, fuzzy TODIM was employed to calculate the ranking of potential failure modes according to their risk priority numbers (RPNs). In order to verify the results of the study, in-depth interviews were conducted with the participation of industry experts.FindingsThe results are very much in line with prospect theory. Therefore, practitioners may apply the proposed method to FMEA. The most crucial failure mode for a firm's attention is furnace failure followed by generator failure, crane failure, tank failure, kettle failure, dryer failure and operator failure, respectively.Originality/valueThe originality of this paper consists in integrating prospect theory with the FMEA method in order to overcome the limitations naturally inherent in the calculation of the FMEA's RPNs.

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Section: Resultsmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

Decision-making for risk evaluation: integration of prospect theory with failure modes and effects analysis (FMEA)

Sağnak

Kazançoğlu

Ozen

et al. 2020

IJQRM

View full text Add to dashboard Cite

show abstract

“…Given the influence of the cognitive level and the emotional and psychological state, TODIM assumes that decision-makers usually have limited rational rather than absolutely rational states [5,32,33]. It reflects the behavioral characteristic of experts and has been successfully used in failure risk assessment, location selection, and portfolio allocation [34,35]. In addition, considering that the original TODIM is not suitable for uncertain environments, some researchers have improved it to comply with their research questions.…”

Section: Supplier Selection Methodsmentioning

confidence: 99%

Supplier Selection in the Nuclear Power Industry with an Integrated ANP-TODIM Method under Z-Number Circumstances

et al. 2020

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Under the double pressure of global energy consumption and climate change, nuclear power has become a low-carbon alternative energy source that could transform the energy structure of the globe. In the nuclear power industry, selecting suitable suppliers plays a significant role in improving the overall performance of nuclear power projects. Along with this symmetrical impact, this paper aims to develop a multistage decision-support framework to determine the optimal nuclear power equipment supplier, which is constructed in the context of Z-number information. Concretely, the Analytic Network Process (ANP) and Tomada de Decisão Iterativa Multicritério (TODIM) are extended by Z-numbers symmetrically—namely, Z-ANP and Z-TODIM. Z-ANP is first applied to analyze the symmetrical interdependence of criteria, so as to accurately determine the criterion weights. Further, the ranking of alternatives is obtained by Z-TODIM, which sufficiently considers the risk preference and psychological states of decision-makers. Finally, a practical case of nuclear-grade cable procurement in the Karachi 2-3 international nuclear power project is performed to illustrate the practicality of the proposed method, and its robustness and superiority are proven by comparing it with current representative approaches.

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“…Secondly, the consensus level between decision-makers is an important factor in decision-making which has been studied by some researchers [50,51], therefore we can include the consensus level in future sustainable supplier selection study. Furthermore, the presented method in this paper can be utilize to handle other MCDM problems, such as emergency management [52], site selection [53], and risk assessment [54], and so on, to further illustrate its effectiveness.…”

Section: Figurementioning

confidence: 99%

Sustainable Supplier Selection Based on Regret Theory and QUALIFLEX Method

Liu¹,

Bin²,

Shi³

et al. 2020

IJCIS

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Sustainable supplier selection is the essential core of sustainable supply chain management, which can directly influence the manufacturer's performance and can enormously enhance the manufacturer's competitiveness in the international market. However, most of the previous studies concerning sustainable supplier selection have less focused on the reliability of the decision-makers judgments and the application of regret theory. To fill this gap, we presented an integrated sustainable supplier selection model based on regret theory and QUALItative FLEXible multiple criteria method (QUALIFLEX) under a 2-dimensional uncertain linguistic variable (2-DULV) environment. In the proposed model, 2-DULV including the reliability of evaluation information is employed to handle the uncertainty and vagueness of decision-makers judgments. A similarity-based method is used to derive the decision-makers' weight, and a maximizing deviation model is established to calculate the weights of evaluation criteria. Then an improved QUALIFLEX method based on regret theory is presented to obtain the ranking order of sustainable suppliers. The proposed approach integrates both the superiority of 2-DULV in effectively handling the uncertainty, vagueness, and reliability of evaluation information and the merit of regret theory in dealing with decision-maker's bounded rationality. Finally, a numerical example concerning an automobile manufacturer is provided to validate the effectiveness and feasibility of the presented model.

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Risk Assessment for Failure Mode and Effects Analysis Using the Bonferroni Mean and TODIM Method

Cited by 26 publications

References 53 publications

Decision-making for risk evaluation: integration of prospect theory with failure modes and effects analysis (FMEA)

Decision-making for risk evaluation: integration of prospect theory with failure modes and effects analysis (FMEA)

Supplier Selection in the Nuclear Power Industry with an Integrated ANP-TODIM Method under Z-Number Circumstances

Sustainable Supplier Selection Based on Regret Theory and QUALIFLEX Method

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