Modeling funding allocation problems via AHP-fuzzy TOPSIS

Abstract

This paper treats the project funding allocation problem using a combination of AHP and fuzzy TOPSIS: one which occurs when the subjects of evaluation are provided a chance to agree on the intensity and importance of the criteria while the assessment is treated by a separate set of evaluators or decision makers (DMs). The assumptions made are similar to a double blind review process; that is, the identities of both parties (evaluators and subjects) are only known to the facilitator, and the evaluators are allowed to provide ratings in linguistic terms (e.g., 'poor', 'good', 'very good'). This paper provides a novel integration and an unbiased method in reaching a transparent decision making outcome for the funding allocation of projects. The differences in implementation between the AHP-fuzzy TOPSIS and other similar applications are discussed. Finally, the evaluation process is illustrated with values derived from a university resource allocation exercise. ©2012 ICIC International.