Construction Projects Bid or Not Bid Approach Using the Fuzzy Technique for Order Preference by Similarity FTOPSIS Method

Abstract

AbstractThis paper discusses selection of construction projects based on multiple criteria using a quantitative fuzzy-set method, which considers multiple attributes in a decision-making process involving a group of decision makers. This approach implements a modified fuzzy technique for order preference by similarity to ideal solution (TOPSIS) to help decision makers rank projects based on various attributes. A triangular fuzzy set models linguistic terms used to provide subjective judgment related to decision makers’ experience level, attribute weight assessment, and attribute rating. The fuzzy TOPSIS method is extended in this research to capture various levels of experience for decision makers involved in a decision to select a construction project. An illustrative example of project selection using the proposed method is provided to demonstrate its effectiveness. The computational results of this research provide project stakeholders with a computer model that could be implemented to assist in the co...