Investment decision making method for waterway projects based on intuitionistic fuzzy multi-attributes

In this study, utility theory is introduced into stakeholder analysis, stakeholders in waterway engineering projects (WEPs) are defined, the influencing factors of stakeholder utility in WEPs are analysed and a decision making index system for investment in WEPs is constructed. In view of the multi-attribute group decision making characteristics of investment decisions in WEPs and the fuzziness of the attribute values of programmes, combined with multi-attribute group decision making and intuitionistic fuzzy set theory, an intuitionistic fuzzy multi-attribute decision making method based on S-type utility function is proposed and the utility function of stakeholders in WEPs is established. The proposed method was applied to analyse investment decisions in WEPs and a sensitivity analysis of the parameters ϕ, η and γ in the S-type utility function on the optimal programme was carried out to study the influence of the decision makers’ risk attitude on the results. The method can be used to conduct a preliminary and intuitive quantitative evaluation of the effectiveness of waterway project construction, provide a basis for decision making on WEPs and help to maximise the benefits of waterway construction.