Entropy-Based Fuzzy TOPSIS Method for Investment Decision Optimization of Large-Scale Projects

Abstract

Investment of large-scale projects must consider various factors, such as economic conditions and investment environment when making decisions. In large-scale project investment problems, almost 90% of them are completed in a multiobjective context. To this end, the authors of this paper have proposed an entropy-based fuzzy TOPSIS synthesis method to assist in the decision-making optimization of large-scale project investment. Firstly, in accordance with the background of the development of multiattribute decision-making method (MADM), closely related to large-scale project investment, the related research works were studied, and the relevant methods are sorted out. Then, the improved vague-entropy-weight based fuzzy TOPSIS (VEWF-TOPSIS) method, entropy and interval language intuitionistic fuzzy sets based TOPSIS (EILIF-TOPSIS) method, and information entropy attribute importance based intuitionistic fuzzy TOPSIS (IEAI-IF-TOPSIS) method were introduced, and a synthesis MADM method that comprehensively combines the above three methods was proposed. Finally, a numerical case was constructed to properly show the effectiveness of the method proposed in the present work, and the conclusions were put forward for providing ideas and methods for large-scale project investment decision-making. It is of great significance that the proposed framework would make large-scale project investment decisions more reasonable and practical, which enriches the research methods of MADM problems to a certain extent and can provide reference for the actual large-scale project investment decision-making problems.