Technology choice using FHDM: a case of iron-making technology

Abstract

The choice of technology is generally based on a techno-economic feasibility study. The scenario at the local, as well as at the global, level is changing, and that necessitates the consideration of factors, such as environmental and social, in addition to the techno-economic factors. This leads to a multicriteria decision making (MCDM) situation. Some authors have used the analytical hierarchy process method for such problems, However, it has certain limitations-the most important being that it considers crisp values alone. The analysis here involves the experts' judgement and nonavailability of exact data on technologies that necessitate the use of fuzzy analysis. The authors have developed a method, namely, fuzzy hierarchical decision making (FHDM) method that synthesizes the concepts of MCDM methodology and fuzzy analysis. They have also developed computer software for the analysis of FHDM. This paper illustrates the use of FHDM for technology choice of iron-making technology considering Indian conditions. It suggests that the FHDM can be used to analyze technologies in any country or location by inputting the pertinent data.

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