engleski

Moderating Risk and Vagueness in the Process of Evaluating NPV using Fuzzy Decision Making

In this paper we provide a fuzzy-based decision making for approximating NPV in the capital budgeting process. Many techniques and models are being used in this process for the purpose of determining risk and vagueness. They are not able to incorporate and value linguistic variables, however. The capital budgeting process has a couple of characteristics, such as the usual long-term cycle and the approximation of many variables, carried out by various managers and having a direct impact on the project’s NPV. In order to display the usefulness of fuzzy logic and the valuation of experts expressed through qualitative opinions, i.e. linguistic variables in the process of capital budgeting, a study is presented for the prediction of the Net Present Value of one capital investment project.

Risk, Vagueness, Capital Budgeting, Fuzzy Decision, Triangular Numbers.

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