Multi Objective Decision Analysis

Author : Clinton W. Brownley
Publisher : Business Expert Press
Page : 172 pages
File Size : 54,7 Mb
Release : 2013-03-28
Category : Business & Economics
ISBN : 9781606494530

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Multi-objective Decision Analysis by Clinton W. Brownley Pdf

Whether managing strategy, operations or products, knowing how to make the best decision in a complex, uncertain business environment is difficult. You might be faced with multiple, competing objectives, which means making trade-offs. To complicate matters, any uncertainty makes it hard to explicitly understand how different objectives will impact potential outcomes. This book will help you face these problems. It provides a decision analysis framework implemented as a simple spreadsheet tool. This multi-objective decision analysis framework helps you to measure trade-offs among objectives and incorporate uncertainties and risk preferences. With this book, you will be able to identify what information is needed to make a decision, define how that information should be combined, and, finally, provide quantifiable evidence to clearly communicate and justify the decision. The process involves minimal overhead and is perfect for busy professionals who need a simple, structured process for making, tracking, and communicating decisions. This process makes decision making more efficient by focusing only on information and factors that are well-defined, measureable, and relevant to the decision at hand. The framework requires clear characterization of a decision, ensuring that it can be traced and is consistent with the intended objectives and organizational values. Using this structured decision-making framework, anyone can consistently make better decisions to gain competitive and strategic advantage.

Author : Vira Chankong,Yacov Y Haimes
Publisher : Courier Dover Publications
Page : 430 pages
File Size : 55,6 Mb
Release : 2008-02-04
Category : Technology & Engineering
ISBN : 9780486462899

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Multiobjective Decision Making by Vira Chankong,Yacov Y Haimes Pdf

This first-rate text explores the theory and methodology of systems engineering in evaluating alternative courses of action and associated decision-making policies. It treats criteria as multidimensional, rather than scalar, in the development of normative theories. These contribute to a behavioral theory of decision making and provide guidance for exercising judgment. An introductory discussion of the systemic approach to judgment and decision is followed by explorations of psychological value measurements, utility, classical decision analysis, and vector optimization theory. The second section chiefly deals with methods of assessing and evaluating alternatives, including both noninteractive and interactive methods. A taxonomy and a comparative evaluation of methods conclude the text.

Author : Simon French
Publisher : Unknown
Page : 350 pages
File Size : 51,8 Mb
Release : 1983
Category : Business & Economics
ISBN : STANFORD:36105031971158

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Multi-objective Decision Making by Simon French Pdf

Author : Adiel Teixeira de Almeida,Cristiano Alexandre Virgínio Cavalcante,Marcelo Hazin Alencar,Rodrigo José Pires Ferreira,Adiel Teixeira de Almeida-Filho,Thalles Vitelli Garcez
Publisher : Springer
Page : 395 pages
File Size : 46,7 Mb
Release : 2015-07-01
Category : Business & Economics
ISBN : 9783319179698

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Multicriteria and Multiobjective Models for Risk, Reliability and Maintenance Decision Analysis by Adiel Teixeira de Almeida,Cristiano Alexandre Virgínio Cavalcante,Marcelo Hazin Alencar,Rodrigo José Pires Ferreira,Adiel Teixeira de Almeida-Filho,Thalles Vitelli Garcez Pdf

This book integrates multiple criteria concepts and methods for problems within the Risk, Reliability and Maintenance (RRM) context. The concepts and foundations related to RRM are considered for this integration with multicriteria approaches. In the book, a general framework for building decision models is presented and this is illustrated in various chapters by discussing many different decision models related to the RRM context. The scope of the book is related to ways of how to integrate Applied Probability and Decision Making. In Applied Probability, this mainly includes: decision analysis and reliability theory, amongst other topics closely related to risk analysis and maintenance. In Decision Making, it includes a broad range of topics in MCDM (Multi-Criteria Decision Making) and MCDA (Multi-Criteria Decision Aiding; also known as Multi-Criteria Decision Analysis). In addition to decision analysis, some of the topics related to Mathematical Programming area are briefly considered, such as multiobjective optimization, since methods related to these topics have been applied to the context of RRM. The book addresses an innovative treatment for the decision making in RRM, thereby improving the integration of fundamental concepts from the areas of both RRM and decision making. This is accomplished by presenting an overview of the literature on decision making in RRM. Some pitfalls of decision models when applying them to RRM in practice are discussed and guidance on overcoming these drawbacks is offered. The procedure enables multicriteria models to be built for the RRM context, including guidance on choosing an appropriate multicriteria method for a particular problem faced in the RRM context. The book also includes many research advances in these topics. Most of the multicriteria decision models that are described are specific applications that have been influenced by this research and the advances in this field. Multicriteria and Multiobjective Models for Risk, Reliability and Maintenance Decision Analysis is implicitly structured in three parts, with 12 chapters. The first part deals with MCDM/A concepts methods and decision processes. The second part presents the main concepts and foundations of RRM. Finally the third part deals with specific decision problems in the RRM context approached with MCDM/A models.

Author : C.-L. Hwang,A.S.M. Masud
Publisher : Springer Science & Business Media
Page : 366 pages
File Size : 43,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642455117

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Multiple Objective Decision Making — Methods and Applications by C.-L. Hwang,A.S.M. Masud Pdf

Decision making is the process of selecting a possible course of action from all the available alternatives. In almost all such problems the multiplicity of criteria for judging the alternatives is pervasive. That is, for many such problems, the decision maker (OM) wants to attain more than one objective or goal in selecting the course of action while satisfying the constraints dictated by environment, processes, and resources. Another characteristic of these problems is that the objectives are apparently non commensurable. Mathematically, these problems can be represented as: (1. 1 ) subject to: gi(~) ~ 0, ,', . . . ,. ! where ~ is an n dimensional decision variable vector. The problem consists of n decision variables, m constraints and k objectives. Any or all of the functions may be nonlinear. In literature this problem is often referred to as a vector maximum problem (VMP). Traditionally there are two approaches for solving the VMP. One of them is to optimize one of the objectives while appending the other objectives to a constraint set so that the optimal solution would satisfy these objectives at least up to a predetermined level. The problem is given as: Max f. ~) 1 (1. 2) subject to: where at is any acceptable predetermined level for objective t. The other approach is to optimize a super-objective function created by multiplying each 2 objective function with a suitable weight and then by adding them together.

Author : Ali Jahan,Kevin L Edwards,Marjan Bahraminasab
Publisher : Butterworth-Heinemann
Page : 252 pages
File Size : 46,6 Mb
Release : 2016-02-17
Category : Technology & Engineering
ISBN : 9780081005415

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Multi-criteria Decision Analysis for Supporting the Selection of Engineering Materials in Product Design by Ali Jahan,Kevin L Edwards,Marjan Bahraminasab Pdf

Multi-criteria Decision Analysis for Supporting the Selection of Engineering Materials in Product Design, Second Edition, provides readers with tactics they can use to optimally select materials to satisfy complex design problems when they are faced with the vast range of materials available. Current approaches to materials selection range from the use of intuition and experience, to more formalized computer-based methods, such as electronic databases with search engines to facilitate the materials selection process. Recently, multi-criteria decision-making (MCDM) methods have been applied to materials selection, demonstrating significant capability for tackling complex design problems. This book describes the rapidly growing field of MCDM and its application to materials selection. It aids readers in producing successful designs by improving the decision-making process. This new edition updates and expands previous key topics, including new chapters on materials selection in the context of design problem-solving and multiple objective decision-making, also presenting a significant amount of additional case studies that will aid in the learning process. Describes the advantages of Quality Function Deployment (QFD) in the materials selection process through different case studies Presents a methodology for multi-objective material design optimization that employs Design of Experiments coupled with Finite Element Analysis Supplements existing quantitative methods of materials selection by allowing simultaneous consideration of design attributes, component configurations, and types of material Provides a case study for simultaneous materials selection and geometrical optimization processes

Author : David Rios Insua
Publisher : Springer Science & Business Media
Page : 193 pages
File Size : 49,6 Mb
Release : 2013-06-29
Category : Business & Economics
ISBN : 9783642516566

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Sensitivity Analysis in Multi-objective Decision Making by David Rios Insua Pdf

The axiomatic foundations of the Bayesian approach to decision making assurne precision in the decision maker's judgements. In practicc, dccision makers often provide only partial and/or doubtful information. We unify and expand results to deal with those cases introducing a general framework for sensitivity analysis in multi-objective decision making. We study first decision making problems under partial information. We provide axioms leading to modelling preferences by families of value functions, in problems under certainty, and moJelling beliefs by families of probability distributions and preferences by familics of utility functions, in problems under uncertainty. Both problems are treated in parallel with the same parametric model. Alternatives are ordered in a Pareto sense, the solution of the problem being the set of non dominated alternatives. Potentially optimal solutions also seem acceptable, from an intuitive point of view and due to their relation with the nondominated ones. Algorithms are provided to compute these solutions in general problems and in cases typical in practice: linear and bilinear problems. Other solution concepts are criticised on the grounds of being ad hoc. In summary, we have a more ro bust theory of decision making based on a weaker set ofaxioms, but embodying coherence, since it essentially implies carrying out a family of coherent dccision anitlyses.

Author : Atour Taghipour
Publisher : Business Science Reference
Page : 312 pages
File Size : 46,7 Mb
Release : 2018-12-17
Category : Electronic
ISBN : 1522586261

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Hierarchical Planning and Information Sharing Techniques in Supply Chain Management by Atour Taghipour Pdf

"This book addresses the coordination of operations planning of supply chains involves simplifying complex decision problems into a hierarchy of mutually inter-dependent decision problems. It also provides insights and support executives concerned with the management of expertise, knowledge, information and organizational development in different types of work communities and environments"--

Author : Ralph L. Keeney,Howard Raiffa
Publisher : Cambridge University Press
Page : 596 pages
File Size : 47,9 Mb
Release : 1993-07
Category : Business & Economics
ISBN : 0521438837

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Decisions with Multiple Objectives by Ralph L. Keeney,Howard Raiffa Pdf

This book describes how a confused decision maker, who wishes to make a reasonable and responsible choice among alternatives, can systematically probe their thoughts and feelings in order to make the critically important trade-offs between incommensurable objectives.

Author : E. Beinat,Peter Nijkamp
Publisher : Springer Science & Business Media
Page : 372 pages
File Size : 50,7 Mb
Release : 2012-12-06
Category : Technology & Engineering
ISBN : 9789401590587

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Multicriteria Analysis for Land-Use Management by E. Beinat,Peter Nijkamp Pdf

The idea of this book started at approximately 33.000 feet, somewhere above the Alps. On our way to a workshop in Venice we had the opportunity of appreciating the different types of landscapes and the complex patchwork of urban areas, agriculture, forests, rivers and lakes that can be seen from an aircraft. The complexity of this puzzle, and the complex task of managing its evolution, became the topic of conversation for the rest of the flight. It also became the topic of this book. Land-use management and multicriteria analysis offer countless opportunities for mutual reinforcement. These two fields have developed largely independently, but a trend towards the exploration of their synergies is now emerging. This is clear from the recent literature on land-use management, spatial analysis and spatial planning, which increasingly includes references to multicriteria methodologies and decision analysis. At the same time, a growing share of multicriteria applications now focus on environmental and land-use issues. This book includes contributions from authors coming from a variety of disciplines and backgrounds. All together they highlight current issues in multicriteria analysis and land-use management from theoretical, methodological and practical perspectives.

Author : Gwo-Hshiung Tzeng,Jih-Jeng Huang
Publisher : CRC Press
Page : 317 pages
File Size : 54,7 Mb
Release : 2016-04-19
Category : Business & Economics
ISBN : 9781466554627

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Fuzzy Multiple Objective Decision Making by Gwo-Hshiung Tzeng,Jih-Jeng Huang Pdf

Multi-objective programming (MOP) can simultaneously optimize multi-objectives in mathematical programming models, but the optimization of multi-objectives triggers the issue of Pareto solutions and complicates the derived answers. To address these problems, researchers often incorporate the concepts of fuzzy sets and evolutionary algorithms into M

Author : Jie Lu,Da Ruan
Publisher : Imperial College Press
Page : 407 pages
File Size : 47,7 Mb
Release : 2007
Category : Business & Economics
ISBN : 9781860948596

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Multi-objective Group Decision Making by Jie Lu,Da Ruan Pdf

This book proposes a set of models to describe fuzzy multi-objective decision making (MODM), fuzzy multi-criteria decision making (MCDM), fuzzy group decision making (GDM) and fuzzy multi-objective group decision-making problems, respectively. It also gives a set of related methods (including algorithms) to solve these problems. One distinguishing feature of this book is that it provides two decision support systems software for readers to apply these proposed methods. A set of real-world applications and some new directions in this area are then described to further instruct readers how to use these methods and software in their practice.

Author : Jitesh J. Thakkar
Publisher : Springer Nature
Page : 393 pages
File Size : 40,5 Mb
Release : 2021-02-08
Category : Technology & Engineering
ISBN : 9789813347458

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Multi-Criteria Decision Making by Jitesh J. Thakkar Pdf

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. ^

Author : Ali E. Abbas,Milind Tambe,Detlof von Winterfeldt
Publisher : Cambridge University Press
Page : 787 pages
File Size : 47,8 Mb
Release : 2017-11-02
Category : Computers
ISBN : 9781107161887

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Improving Homeland Security Decisions by Ali E. Abbas,Milind Tambe,Detlof von Winterfeldt Pdf

Are we safer from terrorism today and is our homeland security money well spent? This book offers answers and more.

Author : Salvatore Greco,Matthias Ehrgott,José Rui Figueira
Publisher : Springer
Page : 1347 pages
File Size : 53,6 Mb
Release : 2016-02-18
Category : Business & Economics
ISBN : 9781493930944

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Multiple Criteria Decision Analysis by Salvatore Greco,Matthias Ehrgott,José Rui Figueira Pdf

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.