Comprehensive Benefit Evaluation of Smart Substation Construction Projects: A Hybrid Multi-criteria Decision-Making Method for Hybrid Information

The smart substations is the core part of smart grids which affect the development of the economy and people's livelihood. This paper constructs a comprehensive benefit evaluation index system of smart substation construction project from four dimensions: intelligent benefit, economic benefit, green benefit, and safe benefit to meet the requirements of national development. The attribute value of the evaluation index is hybrid information including language variable, exact number, and normal distribution interval number, which can handle the complex sources of information. On this basis, this study constructs a hybrid multi-criteria decision-making model for hybrid information based on intuitionistic fuzzy theory, subjective and objective weighting method, and improved TOPSIS evaluation method. Firstly, the model uses different transformation rules to unify the hybrid information into the form of intuitionistic fuzzy numbers based on intuitionistic fuzzy theory. Secondly, based on the cooperative game model, this paper uses a weighting method which combines subjective weighting method (group eigenvalue method) and objective weighting method (intuitionistic fuzzy entropy) to determine the comprehensive weight of indicators, which can avoid the limitations of using single weighting method and makes the weights more scientific and reasonable. Thirdly, an improved TOPSIS evaluation model based on intuitionistic fuzzy sets is proposed. The Euclidean distance in traditional TOPSIS method is replaced by cosine similarity, which overcomes the shortcoming of using Euclidean distance. Finally, this paper analyzes 10 cases of smart substation construction projects and puts forward improvement strategies based on the results, the results prove that the model is feasible and it can assist decision makers in making scientific decisions based on different situations. In addition, this hybrid multi-criteria decision-making model is compared with three other models, which proves that the proposed model has good robustness and sensitivity.