An intuitinioistic fuzzy three stage approach proposal for risk evaluation

Risk assessment refers to the identification of the hazards that exists or could exist in the enterprises, the grading of the risks arising from the hazards with the factors that cause these hazards, and the planning of the control measures. There are many approaches in the literature used for risk assessment. Failure Modes and Effects Analysis (FMEA) is one of the most widespread among this. However, there are aspects of FMEA that needs to be improved in order for it to be a more effcient risk assessment tool. Moreover it is also important to make corrective and preventive action plans that take into account realistic constraints such as capital, time, etc. as well as ranking in order to prevent risk types in risk assessment. Therefore, a three-step risk assessment approach has been proposed for the thesis study. In the first stage, weights were assigned to the factors by using a weighting method that considers similarities accorting to risk levels that could be created among the risk factors. In the second stage, risk modes is ranked with MABAC method that represents also interaction between risk modes. Based on aspect that needs to be improved of FMEA weights and ranking system is developed in first and second stage. In third and last stage mathematical model that consider realistic constraint of enterprises is established to determine the modes of risks that should be prevented. The proposed approach is combined with the intuitinioistic fuzzy set theory, and the uncertainty in the risk assessment process and the level of suspicion in the obtained information have also been incorporated into the solution process.