Multi-objective Approach to Project Selection of Indian Coal Mines: A Case Study

Abstract

Project selection problem is an unceasing problem, which every organization face. In fact, it plays a key role in prosperity of the company. In this paper, a multi-objective mathematical programming model has been formulated for the project selection of an Indian Coal Mining Company, with a proposed name as the Indian Coal Mines Limited (ICML). To solve the proposed model, fuzzy programming approach with linear membership function is used to find the best compromise solution among the different project proposals. A case study from Indian Coal Mines is considered with demand of coal as normal random variable with known mean and variance.