A novel approach for evaluation of projects using an interval–valued fuzzy Additive Ratio Assessment (ARAS) method: a case study of oil and gas well drilling projects

Abstract

The beginning of the 21st-century resulted in a more developed multi-attribute decision-making (MADM) tool and inspired new application areas that have resulted in discoveries in sustainable construction and building life cycle analysis. Construction and civil engineering stand for the central axis of a body consisting of a multidisciplinary (multi-dimensional) world with ties to disciplines constituting the surface, and with the disciplines, as a consequence, tied to each other. When dealing with multi-attribute decision-making problems generally multiple solutions exist, especially when there is a large number of attributes, and the concept of Pareto-optimality is inefficient. The symmetry and structural regularity are essential concepts in many natural and man-made objects and play a crucial role in the design, engineering, and development of the world. The complexity and risks inherent in projects along with different effective indicators for success and failure may contribute to the difficulties in performance evaluation. In such situations, increasing the importance of uncertainty is observed. This paper proposes a novel integrated tool to find a balance between sustainable development, environmental impact and human well-being, i. e. to find symmetry axe with respect to goals, risks, and constraints (attributes) to cope with the complicated problems. The concept of “optimal solution” as the maximum degree of implemented goals (attributes) is very important. The model is built using the most relevant variables cited in the reviewed project literature and integrates two methods: the Step-Wise Weight Assessment Ratio Analysis (SWARA) method and a novel interval-valued fuzzy extension of the Additive Ratio Assessment (ARAS) method. This model was used to solve real case study of oil and gas well drilling projects evaluation. Despite the importance of oil and gas well drilling projects, there is lack of literature that describes and evaluates performance in this field projects. On the other hand, no structured assessment methodology has been presented for these types of projects. Given the limited research on performance evaluation in oil & gas well-drilling projects, the research identifies a set of performance criteria and proposes an evaluation model using fuzzy Delphi method. An illustrative example shows that the proposed method is a useful and alternative decision-making method.