IDEAS home Printed from https://ideas.repec.org/h/spr/isochp/978-3-319-17969-8_2.html
   My bibliography  Save this book chapter

Multiobjective and Multicriteria Decision Processes and Methods

In: Multicriteria and Multiobjective Models for Risk, Reliability and Maintenance Decision Analysis

Author

Listed:
  • Adiel Teixeira Almeida

    (Universidade Federal de Pernambuco)

  • Cristiano Alexandre Virgínio Cavalcante

    (Universidade Federal de Pernambuco)

  • Marcelo Hazin Alencar

    (Universidade Federal de Pernambuco)

  • Rodrigo José Pires Ferreira

    (Universidade Federal de Pernambuco)

  • Adiel Teixeira Almeida-Filho

    (Universidade Federal de Pernambuco)

  • Thalles Vitelli Garcez

    (Universidade Federal de Pernambuco)

Abstract

An appropriate decision-making process is relevant for the strategic success of any organization. Most of the decision problems in these organizations have multiple objectives that have to be dealt with simultaneously. This chapter gives a brief description of a few multicriteria (MCDM; MCDA; MCDM/A) methods, including deterministic additive methods (MAVT), Multi-Attribute Utility Theory (MAUT), connected with Decision Theory, and outranking methods (ELECTRE and PROMETHEE). Additionally, Group Decision and Negotiation process is considered. A procedure for building an MCDM/A decision model is presented, which enables several factors to be incorporated such as: the DM’s preference structure and experts’ prior knowledge regarding the state of nature. The choice of the method is considered. Some concerns related to choosing an appropriate MCDM/A method are presented, including preference modeling with the evaluation of the DM’s compensatory and non-compensatory rationality. This procedure enables an MCDM/A problem to be solved. Several issues concerning the implementation of this procedure are presented, such as: setting scales and normalizing criteria, time management in the scheduling of the decision process (including the procrastination process), and incorporating the intelligence stage of Simon’s model into the procedure. Although this procedure may be applied to any context, some particular considerations are given to those of Risk, Reliability and Maintenance. For instance, a multidimensional risk analysis allows a broader view and may include the DM’s behavior regarding risk (prone, neutral or averse). In the reliability and maintenance contexts, the models may include availability, maintainability, dependability, quality of repair and other aspects besides cost.

Suggested Citation

  • Adiel Teixeira Almeida & Cristiano Alexandre Virgínio Cavalcante & Marcelo Hazin Alencar & Rodrigo José Pires Ferreira & Adiel Teixeira Almeida-Filho & Thalles Vitelli Garcez, 2015. "Multiobjective and Multicriteria Decision Processes and Methods," International Series in Operations Research & Management Science, in: Multicriteria and Multiobjective Models for Risk, Reliability and Maintenance Decision Analysis, edition 127, chapter 0, pages 23-87, Springer.
    • Handle: RePEc:spr:isochp:978-3-319-17969-8_2
    DOI: 10.1007/978-3-319-17969-8_2
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:isochp:978-3-319-17969-8_2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.