Multi Criteria Decision Analysis In Management

Multi-criteria decision making (MCDM) has been extensively used in diverse disciplines, with a variety of MCDM techniques used to solve complex problems. A primary challenge faced by research scholars is to decode these techniques using detailed step-by-step analysis with case studies and data sets. The scope of such work would help decision makers to understand the process of using MCDM techniques appropriately to solve complex issues without making mistakes. Multi-Criteria Decision Analysis in Management provides innovative insights into the rationale behind using MCDM techniques to solve decision-making problems and provides comprehensive discussions on these techniques from their inception, development, and growth to their advancements and applications. The content within this publication examines hybrid multicriteria models, value theory, and data envelopment. Ideal for researchers, management professionals, students, operations scholars, and academicians, this scholarly work supports and enhances the decision-making process.

The field of multiple criteria decision analysis (MCDA), also termed multiple criteria decision aid, or multiple criteria decision making (MCDM), has developed rapidly over the past quarter century and in the process a number of divergent schools of thought have emerged. This can make it difficult for a new entrant into the field to develop a comprehensive appreciation of the range of tools and approaches which are available to assist decision makers in dealing with the ever-present difficulties of seeking compromise or consensus between conflicting inter ests and goals, i.e. the "multiple criteria". The diversity of philosophies and models makes it equally difficult for potential users of MCDA, i.e. management scientists and/or decision makers facing problems involving conflicting goals, to gain a clear understanding of which methodologies are appropriate to their particular context. Our intention in writing this book has been to provide a compre hensive yet widely accessible overview of the main streams of thought within MCDA. We aim to provide readers with sufficient awareness of the underlying philosophies and theories, understanding of the practi cal details of the methods, and insight into practice to enable them to implement any of the approaches in an informed manner. As the title of the book indicates, our emphasis is on developing an integrated view of MCDA, which we perceive to incorporate both integration of differ ent schools of thought within MCDA, and integration of MCDA with broader management theory, science and practice.

This book presents a broad range of innovative applications and case studies in all areas of management and engineering, including public administration, finance, marketing, engineering, transportation, and energy systems. It addresses issues related to problem structuring, preference modeling, and model construction, presenting a framework that provides clear decision-making support in practice. In addition, it includes hybrid and integrated techniques combining multiple criteria decision making (MCDM) with other analytical methods. The book reflects the growing impact of MCDM in the field of management science and operations research. Building on recent and established theoretical advances and presenting their applications in specific domains, it offers a comprehensive resource for researchers, graduate students and professionals alike.

p="" The book covers the domain of multi-criteria decision making, a topic which has gained significant attention of researchers and practitioners spanning a variety of disciplines for enhancing their decision making in real life situation. The topics in this volume help readers understand the techniques in the model building and analysis stage. The chapters cover a variety of techniques and their applications for interesting problems. This book will be of interest to readers in diverse disciplines such as engineering, business, management, humanities, psychology and law. ^

In two volumes, this new edition presents the state of the art in Multiple Criteria Decision Analysis (MCDA). Reflecting the explosive growth in the field seen during the last several years, the editors not only present surveys of the foundations of MCDA, but look as well at many new areas and new applications. Individual chapter authors are among the most prestigious names in MCDA research, and combined their chapters bring the field completely up to date. Part I of the book considers the history and current state of MCDA, with surveys that cover the early history of MCDA and an overview that discusses the “pre-theoretical” assumptions of MCDA. Part II then presents the foundations of MCDA, with individual chapters that provide a very exhaustive review of preference modeling, along with a chapter devoted to the axiomatic basis of the different models that multiple criteria preferences. Part III looks at outranking methods, with three chapters that consider the ELECTRE methods, PROMETHEE methods, and a look at the rich literature of other outranking methods. Part IV, on Multiattribute Utility and Value Theories (MAUT), presents chapters on the fundamentals of this approach, the very well known UTA methods, the Analytic Hierarchy Process (AHP) and its more recent extension, the Analytic Network Process (ANP), as well as a chapter on MACBETH (Measuring Attractiveness by a Categorical Based Evaluation Technique). Part V looks at Non-Classical MCDA Approaches, with chapters on risk and uncertainty in MCDA, the decision rule approach to MCDA, the fuzzy integral approach, the verbal decision methods, and a tentative assessment of the role of fuzzy sets in decision analysis. Part VI, on Multiobjective Optimization, contains chapters on recent developments of vector and set optimization, the state of the art in continuous multiobjective programming, multiobjective combinatorial optimization, fuzzy multicriteria optimization, a review of the field of goal programming, interactive methods for solving multiobjective optimization problems, and relationships between MCDA and evolutionary multiobjective optimization (EMO). Part VII, on Applications, selects some of the most significant areas, including contributions of MCDA in finance, energy planning problems, telecommunication network planning and design, sustainable development, and portfolio analysis. Finally, Part VIII, on MCDM software, presents well known MCDA software packages.

This book presents an introduction to MCDA followed by more detailed chapters about each of the leading methods used in this field. Comparison of methods and software is also featured to enable readers to choose the most appropriate method needed in their research. Worked examples as well as the software featured in the book are available on an accompanying website.

"This book describes the basic concepts and definitions of the theory of decision-making, provides a general formulation of multicriteria problems, provides the statement of the problem of the synthesis of compromise-optimal mobile objects trajectories in a conflict environment and method of solution, and other topics"--

This book provides in-depth guidance on how to use multi-criteria decision analysis methods for risk assessment and risk management. The frontiers of engineering operations management methods for identifying the risks, investigating their roles, analyzing the complex cause-effect relationships, and proposing countermeasures for risk mitigation are presented in this book. There is a total of ten chapters, mainly including the indicators and organizational models for risk assessment, the integrated Bayesian Best-Worst method and classifiable TOPSIS model for risk assessment, new risk prioritization model, fuzzy risk assessment under uncertainties, assessment of COVID-19 transmission risk based on fuzzy inference system, risk assessment and mitigation based on simulation output analysis, energy supply risk analysis, risk assessment and management in cash-in-transit vehicle routing problems, and sustainability risks of resource-exhausted cities. The most significant feature of this book is that it provides various systematic multi-criteria decision analysis methods for risk assessment and management, and illustrates the application of these methods in different fields. This book is beneficial to policymakers, decision-makers, experts, researchers and students related to risk assessment and management.