Feasibility study of industrial projects: A fuzzy AHP approach

The main objective of this research is to develop a Fuzzy Analytic Hierarchy Process (FAHP) for the aim of conducting feasibility study in the electrical industries. Regardless of the numerous quantity of researches on feasibility study and related techniques, proposing an integrated approach to combine and unify critical factors of feasibility with analytic approaches is less investigated. To fill this gap, this study was conducted to develop a framework to evaluate the feasibility of industrial project aligned with addressing a FAHP to assist managers for selecting the best alternative. Particularly, 6 key indicators proper for feasibility study of industrial projects were proposed using literature survey. The validity of proposed indicators was accredited using a Nominal Group Technology (NGT). The proposed indicators were used to assist an investment company to evaluate three projects. Finally, a FAHP were used to choose the best choice with the aim of proposed indicators. Therefore, the ranking of industrial projects is the main result of this study.