Construction project selection using fuzzy TOPSIS approach
Date of this Version
Purpose - The purpose of this paper is to introduce a quantitative method for assisting contractors to select appropriate projects for bidding by considering multiple attributes and integrating decision group member opinions.
Design/methodology/approach - The fuzzy technique for order preference by similarity to ideal solution (TOPSIS) method is used to help contractors make decision on project selection and the linguistic terms are defined for representing the triangular fuzzy numbers for ratings of alternatives and weights of criteria.
Findings - The selection of appropriate projects for bidding is a multiple attribute group decision-making exercise. In a real decision process, there are many uncertainties and ambiguities, and time limitations mean that decision makers cannot always make precise judgments. The numerical example demonstrates that the fuzzy TOPSIS approach can be used to simulate the decision process in project selection, and the results provide contractors with valuable insight into the project selection problem.
Originality/value - Selecting appropriate projects for bidding is to use a contractor's limited resources more efficiently and increase the probability of winning contracts. Therefore, there is a need for a quantitative method to help contractors make better decision on project selection. That leads to the formulation of this paper. The fuzzy TOPSIS method can assist contractors to make better decisions in bidding.
This document has been peer reviewed.