Fuzzy Sets pp 275-290 | Cite as

Fuzzy Cost/Benefit Analysis

  • Lee A. Neitzel
  • Lance J. Hoffman


A model is developed for a cost/benefit analysis using fuzzy metrics. The costs and benefits are described in linguistic rather than numerical terms. The system to be analyzed is viewed structurally as two top down charts, one consisting of cost items and the other of benefit items. Estimates are made for the reliability or degree of certainty of each estimate and the relative proportion that each item contributes to the total cost or benefit. All estimates are made using fuzzy descriptors. Algorithms to combine these estimates and produce a cost/benefit ratio are presented and justified. The use of the method is discussed and an example is given.


Organizational Element Fuzzy Descriptor Rating Language Fuzzy Cost Current Budget 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Plenum Press, New York 1980

Authors and Affiliations

  • Lee A. Neitzel
    • 1
  • Lance J. Hoffman
    • 1
  1. 1.Dept. of Electrical Engineering and Computer ScienceThe George Washington UniversityUSA

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