SELECTION AMONG INNOVATIVE PROJECT PROPOSALS USING A HESITANT FUZZY MULTIPLE CRITERIA DECISION MAKING METHOD

Abstract

Purpose- In recent decades, innovation and desearch and development (R&D) has been the key component for growth and economic competitiveness for companies and countries.Methodology- Since innovation Project require considerable funds and contain risk, it is important to evaluate their potantial performance and return on investment to make proper decision.Findings- The objective of this study is to develop a decision model for innovative Project selection using multicriteria decision making model (MCDM) and Hesitant Fuzzy sets. By using MCDM approach, various perspectives on project evaluation can be integrated into decision making model. Conclusion- Employing hesitant fuzzy sets enable a better representation of decision makers’ inguistic evaluations and thus provide better results.