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Summary Multi-Criteria Analysis

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A snapshot of the summary - Multi-Criteria Analysis Author: Unknown

  • 1 Multi-criteria techniques

  • 1.1 Background

  • What are multi-criteria techniques?
    Tools developed in the field of decision theory to aid problem-solving.
  • What does multi-criteria analysis entail?
    The systematic modelling of a decision maker's preferences to solve in an explicit manner a choice between options involving a number of, often conflicting, objectives.
  • How is a rational basis for classifying choices provided?
    Through the aggregation of disparate information onto a common index of utility or value.
  • 1.2 Introduction

  • How many multi-critera techniques are there?
    Over 40
  • What is the common rational of multi-criteria methods?
    To establish a broad framework for assessing the impact of making a choice, simplifying the decision into its consituent elements.
  • What three steps do multi-criteria methods require?
    Developing a complete set of alternative solutions to a problem (the options), assessing all relevant performance information for criteria which judge the value or utility of the options, and trading-off the relative significance of the criteria to resolve the problem.
  • Is there subjective and implicit decision making with the use of mca?
    No, subjective and implicit decision making is made objective and trasparent in a simple evaluative model.
  • What three things do multi-criteria techniques provide for?
    • The inclusion of intangibles in policy analysis
    • The consideriation of both qualitative and quantitative data in the same model
    • Assisting the structuring and trading-off of disparate criteria which are in basic conflict in complex decision making.
  • 1.3 Meeting objectives

  • How can alternative options be judged?
    By quantifying their ermance against a set of relevant objectives, attributes or dimensions, which in total descibes the option's value to the decision maker.
  • 1.4 Making trade-offs

  • How can the complex problem of describing the balance between objectives, and identififying the preferred option be resolved?
    By making trade-offs.
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