Bandana Swain
Department of Mathematics, C. V. Raman Global University, Bhubaneswar, Odisha, India.

Prashanta Kumar Parida
Department of Mathematics, C. V. Raman Global University, Bhubaneswar, Odisha, India.

Diptirekha Sahoo
Department of Mathematics, BJB (Autonomous) College, Bhubaneswar, Odisha, India.

DOI https://doi.org/10.33889/IJMEMS.2026.11.3.056

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Abstract

This paper presents a novel multi-criteria decision-making (MCDM) framework based on interval-valued Fermatean fuzzy sets (IVFFSs) to effectively handle ambiguity and imprecision inherent in real-world decision environments. When accurate assessments are not accessible, the suggested model offers a more adaptable and realistic representation of ambiguous information by expanding classical Fermatean fuzzy theory through interval-valued membership and non-membership degrees. In order to aggregate expert evaluations, a new group generalized interval-valued Fermatean fuzzy weighted average (GGIVFFWA) operator is developed. This operator allows for the simultaneous examination of many advisers and deciders perspectives and incorporates group-based parameters. The applicability and efficiency of the proposed framework are demonstrated through a real-world case study on strategic partner selection for credit risk assessment. The obtained outcomes confirm the robustness, stability, and reliability of the proposed technique, which are further validated through a comparative analysis with existing decision-making approaches. General, the proposed framework offers an efficient and practical tool for solving complex MCDM problems under uncertainty.

Keywords- Credit risk evaluation, Fermatean fuzzy sets, Interval-valued Fermatean fuzzy weighted average operator, Group generalized interval-valued Fermatean fuzzy sets, Multi-criteria decision-making.

Citation

Swain, B., Parida, P. K. & Sahoo, D. (2026). Interval-Valued Fermatean Fuzzy Multi-Criteria Decision-Making for Strategic Partner Ranking in Credit Risk Evaluation. International Journal of Mathematical, Engineering and Management Sciences, 11(3), 1370-1394. https://doi.org/10.33889/IJMEMS.2026.11.3.056.