Summary: Multi-Criteria Analysis | Unknown

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• 1 Multi-criteria techniques

• 1.1 Background

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• 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

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• 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

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• 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

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• How can the complex problem of describing the balance between objectives, and identififying the preferred option be resolved?

  By making trade-offs.