WCSE

Evaluation of Technology Projects Using Multi-level Criteria and TOPSIS Approach

Abstract— The evaluation of technology projects for commercialization is intrinsically difficult but of great importance. In this paper, a project evaluation criteria and model are constructed in the following two aspects. Firstly, multi-level and multi-dimensional project evaluation criteria are formed with reference to various studies. These criteria help decision-makers to gain a comprehensive understanding of the technical level, maturity, implementability, promotion value, and industrialization foundation of the project. Secondly, since the evaluation of the project involves multiple criteria, it can be modeled as a multiple criteria decision making (MCDM) problem. A nested MCDM model for multi-level criteria is constructed using the technique for order preference by similarity to ideal solution (TOPSIS) algorithm with a hybrid of AHP and Entropy weighting methods. The results illustrate the effectiveness of the model in evaluating technology projects. The outcomes of the research enable decision-makers to comprehensively understand the projects based on multi-level criteria while making practical and rational decisions based on the evaluation model.

Index Terms— Technology project, Commercialization, Entropy method, AHP, TOPSIS

Bing Mo
China Electronic Product Reliability and Environmental Testing Research Institute, Guangzhou, China; Guangdong Provincial Key Laboratory of Electronic Information Products Reliability Technology, China
Haozhi Chen
School of Business AdministrationSouth China University of Technology, China
Bin Shang
China Electronic Product Reliability and Environmental Testing Research Institute, China
Baimao Lei
China Electronic Product Reliability and Environmental Testing Research Institute, Guangzhou, China; Guangdong Provincial Key Laboratory of Electronic Information Products Reliability Technology, China
Guangxue Chen
School of Business AdministrationSouth China University of Technology, China

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Cite: Bing Mo, Haozhi Chen, Bin Shang, Baimao Lei, Guangxue Chen, "Evaluation of Technology Projects Using Multi-level Criteria and TOPSIS Approach," WCSE 2022 Spring Event: 2022 9th International Conference on Industrial Engineering and Applications, pp. 44-53, Sanya, China, April 15-18, 2022.