An Interval-Valued Intuitionistic Fuzzy VIKOR Approach for R&D Project Selection in Defense Industry Investment Decisions

Abstract

Defense Industry projects are high-budget projects that take many years, required infrastructure, and go through serious research and development processes. When making investment decisions, solutions obtained with models based on expert opinions and analytical techniques are required. At this point, interval-valued intuitionistic fuzzy (IVIF) methods are a good alternative to eliminate uncertainty, especially in order to evaluate all preference information provided by decision makers. In this study, multi-criteria decision making in the IVIF environment in the defense industry is extended with the VIKOR method. For the application, the literature was examined and 8 different criteria were determined. 4 different alternative projects were evaluated based on these criteria by 3 different decision makers. The results show that the analyzes performed with the VIKOR method in the IVIF environment are similar to the literature. Additionally, there is no study in the literature examining this methodology on the defense industry.