Strategic Approach in Multi-Criteria Decision Making

This book examines multiple criteria decision making (MCDM) and presents the Sequential Iterative Modelling for Urban Systems (SIMUS) as a method to be used for strategic decision making. It emphasizes the necessity to take into account aspects related to real world scenarios and incorporating possible real-life aspects for modelling. The book also highlights the use of sensitivity analysis and presents a method for using criteria marginal values instead of weights, which permits the drawing of curves that depicts the variations of the objective function due to increments/decrements of criteria values. In this way, it also gives quantitative values of the objective function allowing stakeholders to perform a comprehensive risk analysis for a solution when it is affected by exogenous variables.

Strategic Multi-Criteria Decision Making: A Practical Guide for Complex Scenarios is divided into four parts. Part 1 is devoted to exploring the history and development of the discipline and the way it is currently used. It highlights drawbacks and problems that scholars have identified in different MCDM methods and techniques. Part 2 refers to what can be done using the MCDM process. Part 3 proposes the SIMUS method as a strategic procedure to deal with MCDM problems, and addressing how to approach complicate scenarios. Part 4 is entirely devoted to support practitioners through more than 100 questions a user may ask, and their corresponding answers, as well as a collection of solved six complex real-life scenarios. The decision-making process can be a complex task, especially with multi-criteria problems. With large amounts of information, it can be an extremely difficult to make a rational decision, due to the number of intervening variables, their interrelationships, potential solutions that might exist, diverse objectives envisioned for a project, etc. The SIMUS method has been designed to offer a strategy to help organize, classify, and evaluate this information effectively.

Highlights the use of Sequential Interactive Modelling for Urban Systems (SIMUS) for strategic decision-making Assists decision making in determining the number of criteria, suitable methods, and resolving score ties Uses case studies for difficult concepts, especially related to demands from a scenario and in their modeling

Auteur
Nolberto Munier is an Associate Researcher at INGENIO - Polytechnic University of Valencia, Spain. A mechanical engineer with a Ph.D. in project management, he is also the author of more than 30 technical books, mainly on operations research and project management, and a reviewer of technical articles for several journals. His research focuses on decision-making methods and sensitivity analysis.

Contenu
Part 1: Theory and analysis of MCDM problems: History of MCDM and how it is performed.- Multicriteria decision making, evolution and characteristics.- The initial decision matrix and its relation with modelling a scenario.- Part 2: Theory and analysis of MCDM problems: What can be done by using the MCDM process?.- How to shape multiples scenarios.- The decision-maker, a vital component of the decision-making process.- Design of a decision-making method reality-wise how should it be done?.- Part 3: Theory and analysis of MCDM problems: proposes SIMUS as a strategic procedure to tackle real-world scenarios.- Linear programming fundamentals.- The SIMUS method.- Sensitivity analysis by SIMUS the IOSA procedure.- Group decision-making.- SIMUS applied to quantify SWOT strategies.- Analysis of lack of agreement between MSDM methods related to the solution of a problem-proposing a methodology for comparing methods to a reference.- Part 4: Practice of problem solving using MCDM support for practitioners.- Support and guidance to practitioners by simulation of questions formulated by readers, and detailed answers and examples.- Best practices - modeling and sensitivity analysis in MCDM.- Some complex and uncommon cases solved by SIMUS.