Solving Construction Project Selection Problem by a New Uncertain Weighting and Ranking Based on Compromise Solution With Linear Assignment Approach

Davoudabadi, Reza; Mousavi, Seyed Meysam; Šaparauskas, Jonas; Gitinavard, Hossein

doi:10.3846/jcem.2019.8656

Cited by 27 publications

(22 citation statements)

References 40 publications

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“…Therefore, this selection problem should be considered as a MADM process. Several studies have been carried out over the past few years to develop a project selection model in the literature [7][8][9][10][11][12][13][14]. However, it is hard to develop a generic model for selecting the most appropriate project because the factors affecting the selection of a construction project may differ depending on the type of the construction project in question.…”

Section: Introductionmentioning

confidence: 99%

A comparative study on selecting urban renewal project via different MADM methods

Polat¹,

Turkoglu²,

Damcı³

et al. 2019

JCEMI

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"Urban renewal" has emerged as a real alternative to prevent potential earthquake damages. Since Turkey is located in the seismic zone and exposed to severe earthquakes, there has been a great need for urban renewal projects in the last 20 years. As a result of this need, urban renewal projects have constituted an important proportion of the growth in the Turkish construction industry. Selecting the right urban renewal project is one of the vital decisions for contractors as they are taking more risk than the other parties. However, it is a challenging and time-consuming process as there are various compromising and conflicting that need to be considered simultaneously. Therefore, this selection problem should be considered as a multi-attributedecision-making (MADM) process. The main objectives of this study are to propose an integrated approach, which uses the combination of different MADM methods, for selection of urban renewal projects in Turkey, and to compare the findings of these methods with each other. Analytic Hierarchy Process (AHP) method was combined with Technique for Order Preference by Similarity to Ideal Solution (TOPSIS), VlseKriterijuska Optimizacija I Komoromisno Resenje (VIKOR), COmplex PRoportional Assessment (COPRAS), and Evaluation based on Distance from Average Solution (EDAS) methods. In the proposed approach, AHP was used to calculate the weights of the criteria that may affect the urban renewal project selection decision and the other MADM methods were used to rank the alternative projects. A case study was carried out in order to illustrate how the integrated approach can be applied in a real-life problem. The findings of using these methods were compared to each other. Application of the proposed approach revealed that it can be a useful tool in selecting urban renewal projects.

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Section: Introductionmentioning

confidence: 99%

A comparative study on selecting urban renewal project via different MADM methods

Polat¹,

Turkoglu²,

Damcı³

et al. 2019

JCEMI

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“…It is difficult to solve these problems simply by one decision-maker. Multiple decision makers making decisions together can not only reduce errors, but also improve the accuracy of decisions [54][55][56][57][58][59]. Therefore, it is of great significance to apply the MAGDM method of PULTS to green supplier selection.…”

Section: A Case Studymentioning

confidence: 99%

EDAS Method for Multiple Attribute Group Decision Making with Probabilistic Uncertain Linguistic Information and Its Application to Green Supplier Selection

Yan¹,

Lei²,

Wei³

et al. 2019

IJCIS

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In order to adapt to the development of the new times, enterprises should not only care for the economic benefits, but also properly cope with environmental and social problems to achieve the integration of environmental, economic and social performance of sustainable development, so as to maximize the efficiency of resource use and minimize the negative effects of environmental pollution. Hence, in order to select a proper green supplier, integration of the information entropy and Evaluation based on Distance from Average Solution (EDAS) under probabilistic uncertain linguistic sets (PULTSs) offered a novel integrated model, in which information entropy is used for deriving priority weights of each attribute and EDAS with PULTSs is employed to obtain the final ranking of green supplier. Furthermore, in order to show the applicability of the proposed method, it is validated by a case study for green supplier selection along with some comparative analysis. Thus, the advantage of this proposed method is that it is simple to understand and easy to compute. The proposed method can also contribute to the selection of suitable alternative successfully in other selection issues.

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“…Nevertheless, the Technique for Order Preference by Similarity to the Ideal Solution (TOPSIS) is selected for this research paper due to the flexibility and ease of applicability. Therefore, the method is widely used (Matić et al 2019;Turskis et al 2019;Davoudabadi et al 2019;Hatefi and Tamošaitienė 2019;Zavadskas et al 2018;Zeng and Xiao 2018;Mardani et al 2016) by decision-makers to rank the variety of alternatives estimated on a group of conflicting and disproportionate criteria. The idea of the TOPSIS method is that it selects the alternative which is closest to the best choice and farthest from the negative best alternative (Hwang and Yoon 1981).…”

Section: Multi-criteria Decision Making Techniquementioning

confidence: 99%

Bond Mutual Funds vs. Bond Exchange Traded Funds: Evaluation of Risk Adjusted Performance

Stankevičienė

Petronienė

2019

Administrative Sciences

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Growing acceptance of passive bond exchange traded funds (ETFs) and actively managed bond mutual funds has exposed the need to find a divide between these two comparatively similar types of instrument. This paper provides a comparative analysis of actively managed bond funds and passive bond ETFs in the context of multiple criteria. The research of risk-adjusted performance of a sampled group of bond funds and ETFs using the TOPSIS multi-criteria decision-making method revealed that actively managed bond funds have a modest advantage over passive bond ETFs. Moreover, the final findings indicate the funds’ performance dependability on portfolio composition by fixed income sector.

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Solving Construction Project Selection Problem by a New Uncertain Weighting and Ranking Based on Compromise Solution With Linear Assignment Approach

Cited by 27 publications

References 40 publications

A comparative study on selecting urban renewal project via different MADM methods

A comparative study on selecting urban renewal project via different MADM methods

EDAS Method for Multiple Attribute Group Decision Making with Probabilistic Uncertain Linguistic Information and Its Application to Green Supplier Selection

Bond Mutual Funds vs. Bond Exchange Traded Funds: Evaluation of Risk Adjusted Performance

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