A FMEA based novel intuitionistic fuzzy approach proposal: Intuitionistic fuzzy advance MCDM and mathematical modeling integration

This study proposes a novel three-stage intuitionistic fuzzy risk assessment (RA) approach based on Failure Modes and Effects Analysis (FMEA). In this study, it was paid attention for considering real constraints of firms such as capital, time etc. to prevent nan-fatal failure modes (FMs), interactions between FMs and risk level similarities created by risk factors (RFs). At the first stage of the proposed approach, RFs' weights are computed by a new intuitionistic fuzzy weighting method considering similarities between RFs for risk levels that they can create. At the second stage, Modified Intuitionistic Fuzzy Multi Attribute Border Approximation Area (MIF-MABAC) including interactions between FMs is used to determine the rankings of FMs by using Extended Haussdorff distance function. At the third stage, two intuitionistic fuzzy mathematical models are established to show the effect of the real constraints of the firm to identify the risk types (RTs) that must be avoided primarily. It was seen that the first model gives the same ranking results with the MIF-MABAC. Additionally, when including the real constraints, the first model can give the more suitable results than the second model. The results obtained from the first model show that experts' assessments and mathematical modeling identify the same FMs for preventing primarily. This study is the first one to suggest a new RA approach that reflects the real constraints of the firms to RA. Additionally, this is the first study that models' interactions between FMs and risk level similarities created by RFs.