A NEW APPROACH IN FAILURE MODES AND EFFECTS ANALYSIS BASED ON COMPROMISE SOLUTION BY CONSIDERING OBJECTIVE AND SUBJECTIVE WEIGHTS WITH INTERVAL-VALUED INTUITIONISTIC FUZZY SETS

Failure modes and eects analysis (FMEA) is a well-known risk analysis approach that has been conducted to distinguish, analyze and miti- gate serious failure modes. It demonstrates the eectiveness and the ability of understanding and documenting in a clear manner; however, the FMEA has weak points and it has been criticized by some authors. For example, it does not consider relative importance among three risk factors (i.e., O; S and D). Dierent sequences of O, S and D may result in exactly the same value of risk priority number (RPN), but their semantic risk implications may be to- tally dierent and these three risk factors are dicult to be precisely expressed. This study introduces a new interval-valued intuitionistic fuzzy (IVIF)-decision approach based on compromise solution concept that defeats the above weak points and improves the traditional FMEA's results. This study rstly employs both subjective and objective weights in the decision process simultaneously. Secondly, there are two kinds of subjective weights performed in the study: ag- gregated weights obtained by experts' assessments as well as entropy measure. Thirdly, this approach is dened under an IVIF-environment to ensure that the evaluation information would be preserved, and the uncertainties could be handled during the computations. Hence, it considers uncertainty in experts' judgments as well as reduces the probability of obtaining two ranking orders with the same value. Finally, the alternatives are ranked with a new collective index according to the compromise solution concept. To show the eective- ness of the proposed approach, two practical examples are solved from the recent literature in engineering applications. The proposed decision approach has an acceptable performance. Also, its advantages have been mentioned in comparison with other decision approaches.