Fuzzy risk analysis by similarity-based multi-criteria approach to classify alternatives

In this paper, a new method for fuzzy risk analysis based on similarity of fuzzy numbers is presented. First of all, the similarity-based multi-criteria approach is used to find the similarity between generalized trapezoidal fuzzy numbers and the desired fuzzy number to rank them. The geometry dista...

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Bibliographic Details
Published in:International journal of system assurance engineering and management 2016-09, Vol.7 (3), p.250-256
Main Authors: Nikfalazar, Sanaz, Akbarzade Khorshidi, Hadi, Hamadani, Ali Zeinal
Format: Article
Language:English
Subjects:
Engineering
Engineering Economics
Logistics
Marketing
Organization
Original Article
Quality Control
Reliability
Safety and Risk
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Summary:In this paper, a new method for fuzzy risk analysis based on similarity of fuzzy numbers is presented. First of all, the similarity-based multi-criteria approach is used to find the similarity between generalized trapezoidal fuzzy numbers and the desired fuzzy number to rank them. The geometry distance, spread difference, perimeter ratio, area ratio, and height ratio have been considered as criteria. Secondly, the proposed ranking approach is used for fuzzy risk analysis. Severity of loss, probability of failure, and failure ignorance possibility are the parameters to assess the risk of various alternatives. In the proposed fuzzy risk analysis, the alternatives can be classified into different levels in terms of their risk. Therefore, fuzzy risk analysis leads to classification and prioritization of the alternatives. Finally, a numerical example is presented to illustrate the applicability of the proposed method.
ISSN:0975-6809
0976-4348
DOI:10.1007/s13198-016-0414-6