Investment project assessment is one of the most critical activities in the investment process, which requires a trade-off between multiple attributes exhibiting vagueness and imprecision with the involvement of a group of experts. The multiple attribute group decision-making (MAGDM) method based on trapezoidal interval type-2 fuzzy sets (IT2FSs) is suitable for the decision makers to deal with this problem. However, some shortcomings in the arithmetic operations of trapezoidal IT2FSs, and some of ranking methods in some cases are invalid. In this paper, the arithmetic operations of trapezoidal IT2FSs are redefined, which can overcome some shortcomings of the ones developed in existing literature. And then, a new ranking method of trapezoidal IT2FSs based on the incentre point of fuzzy sets is developed. In order to verify the proposed method, thirteen fuzzy sets are used in comparison with some of the existing methods, and the comparison results demonstrate the superiority of the proposed method. Finally, the proposed method is integrated into the technique for order preference by similarity to the ideal solution (TOPSIS) method and an illustrative example in investment project assessment is presented to evaluate the effectiveness of the proposed methods.
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