Abstract
In this study, we examined the project selection process in a mould manufacturing company. We ranked 12 criteria via Analytic Hierarchy Process (AHP) and evaluated the most important 8 criteria. Then we applied Intuitionistic Fuzzy TOPSIS (IF-TOPSIS) method, which is the extended version of the TOPSIS method in intuitionistic fuzzy environment. After expressing the decision makers' evaluations in linguistic terms, we turned them into intuitive fuzzy numbers. In the last step, we obtained the project rankings by calculating the closeness coefficient for 5 projects.
Highlights
In today's competitive environment, the process of research and development (R & D) project selection is crucial for many firms, especially those that depend on innovation in order to maintain their competitiveness
We aimed to rank and select the R & D projects that a manufacturing enterprise can implement via Analytic Hierarchy Process (AHP) and IF-TOPSIS methods
Fuzzy set theory is a good method for decision makers to express their views, it may be inadequate in some cases
Summary
In today's competitive environment, the process of research and development (R & D) project selection is crucial for many firms, especially those that depend on innovation in order to maintain their competitiveness. The decision to develop and implement new products and processes is an important decision to be made within the framework of strategic management. Because resources that are limited during R & D activities should be used efficiently. In this context, projects with high benefit value should be evaluated and selected. Because many factors are considered in this process, the problem is a Multi-Criteria Decision Making (MCDM). The decisionmaker should evaluate the many factors affecting the decision-making process simultaneously [1, 2]
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