Project Selection via Stochastic Multi-criteria Acceptability Analysis

Project selection problem has been largely discovered in extant literature, and attracted considerable attentions of academics and purchasing managers. Practical project selection problem is typically evolved of multi-criteria and a committee of experts. Given the exact values of the input data, certain expert may generate uncertain evaluation results on a project, because the exact weights associated with multicriteria are difficult to reach consensus. SMAA-2 method is an effective tool to deal with stochastic multicriteria decision making problem. In this paper, we first formulate the interval data describing all experts’ judgment on all project s, and then apply SMAA-2 method to provide a fully rank of all candidate project s. The rank acceptability indices and holistic rank indices are obtained to support the project selection. A numerical example drawn from the previous paper is recalculated to show the effectiveness of our approach.