Technology assessment with IF-TOPSIS: An application in the advanced underwater system sector

Abstract

Technologies are pivotal for firms' success, but also resource consuming. Therefore, managers have to assess and select technologies carefully in order to allocate resources on the most promising ones, grounding their decisions on adequate sets of criteria on which experienced people can express their opinion.This work proposes an application of Multi Criteria Decision Aids to technology assessment, where Decision Support Systems offer an effective support for evaluating technology impact on firms' success, building on experts' judgments.The method is based on a peer-based modification to Intuitionistic Fuzzy multi-criteria group decision making with TOPSIS method (peer IF-TOPSIS). A case study in which this methodology is applied to a company operating in the military sector (Advanced Underwater System) is also presented.Besides the empirical proof of the method's suitability and value in assisting managers in their decision, the paper's contributions are both methodological and theoretical. Methodologically, while allowing a peer-based voting procedure, the method enhances the consensus in the firm and limits the possible biases that a supra-decision maker could introduce. Theoretically, the set of proposed criteria includes many facets of the assessment problem, and avoids being tailored to the investigated technological field, so enhancing its generalizability.