An Analysis of Multi-Criteria Decision Making Methods

Multi-Criteria Decision Making (MCDM) methods have evolved to accommodate various types of applications. Dozens of methods have been developed, with even small variations to existing methods causing the creation of new branches of research. This paper performs a literature review of common Multi-Criteria Decision Making methods, examines the advantages and disadvantages of the identified methods, and explains how their common applications relate to their relative strengths and weaknesses. The analysis of MCDM methods performed in this paper provides a clear guide for how MCDM methods should be used in particular situations.

[1]  Lotfi A. Zadeh,et al.  Fuzzy Sets , 1996, Inf. Control..

[2]  P. Fishburn.  Conjoint measurement in utility theory with incomplete product sets , 1967 .

[3]  P. Fishburn,et al.  Seven independence concepts and continuous multiattribute utility functions , 1974 .

[4]  Ralph L. Keeney,et al.  The art of assessing multiattribute utility functions , 1977 .

[5]  Thomas L. Saaty,et al.  The analytic hierarchy process : planning, priority setting, resource allocation , 1980 .

[6]  J. Siskos,et al.  Outranking approaches versus MAUT in MCDM , 1984 .

[7]  Carlos Romero,et al.  A survey of generalized goal programming (1970–1982) , 1986 .

[8]  H. Toth.  From fuzzy-set theory to fuzzy set-theory: some critical remarks on existing concepts , 1987 .

[9]  Ralph L. Keeney,et al.  Value-driven expert systems for decision support , 1988, Decis. Support Syst..

[10]  E. Kerre.  A call for crispness in fuzzy set theory , 1989 .

[11]  A. O. Ivanov,et al.  The application of fuzzy set theory for the classification of the product quality in rotary kilns , 1991 .

[12]  A. Esogbue,et al.  On the application of fuzzy sets theory to the optimal flood control problem arising in water resources systems , 1992 .

[13]  S. Lai.  A Preference-based Interpretation of AHP , 1995 .

[14]  Kampan Mukherjee,et al.  Application of goal programming in project selection decision -- A case study from the Indian coal mining industry , 1995 .

[15]  Toshiyuki Sueyoshi,et al.  Production analysis in different time periods: An application of data envelopment analysis , 1995 .

[16]  P. Leung,et al.  Evaluating fisheries management options in Hawaii using analytic hierarchy process (AHP) 1 Senior au , 1998 .

[17]  Adel Guitouni,et al.  Tentative guidelines to help choosing an appropriate MCDA method , 1998, Eur. J. Oper. Res..

[18]  Dickson Lukose,et al.  Using statistical models and case-based reasoning in claims prediction: experience from a real-world problem , 1999, Knowl. Based Syst..

[19]  George Ofori,et al.  DSSDSS: a decision support system for dewatering systems selection , 2002 .

[20]  Thomas L. Saaty,et al.  DECISION MAKING WITH THE ANALYTIC HIERARCHY PROCESS , 2008 .

[21]  Jurg Keller,et al.  A decision support system for selecting sanitation systems in developing countries , 2002 .

[22]  Ibrahim M. Khadam,et al.  Multi-criteria decision analysis with probabilistic risk assessment for the management of contaminated ground water , 2003 .

[23]  Laura Riesgo,et al.  An MCDM analysis of agricultural risk aversion , 2003, Eur. J. Oper. Res..

[24]  Theodor J. Stewart,et al.  Integrated object-oriented framework for MCDM and DSS modelling , 2004, Decis. Support Syst..

[25]  Jayanath Ananda,et al.  Evaluating public risk preferences in forest land-use choices using multi-attribute utility theory , 2005 .

[26]  Jian-Bo Yang,et al.  Interval efficiency assessment using data envelopment analysis , 2005, Fuzzy Sets Syst..

[27]  Maria Meler-Kapcia,et al.  CBR methodology application in an expert system for aided design ship's engine room automation , 2005, Expert Syst. Appl..

[28]  Joseph C. Paradi,et al.  Information systems project prioritization using data envelopment analysis , 2005, Math. Comput. Model..

[29]  Thomas L. Saaty,et al.  Rank from comparisons and from ratings in the analytic hierarchy/network processes , 2006, Eur. J. Oper. Res..

[30]  K. P. Pandey,et al.  Improving energy productivity in paddy production through benchmarking—An application of data envelopment analysis , 2006 .

[31]  Nitin Garg,et al.  Combining decision tree and MAUT for selecting a country for a global manufacturing facility , 2007 .

[32]  Popi Konidari,et al.  A multi-criteria evaluation method for climate change mitigation policy instruments , 2007 .

[33]  E. Løken.  Use of multicriteria decision analysis methods for energy planning problems , 2007 .

[34]  Shuo-Yan Chou,et al.  A fuzzy simple additive weighting system under group decision-making for facility location selection with objective/subjective attributes , 2008, Eur. J. Oper. Res..

[35]  Hui Li,et al.  Ranking-order case-based reasoning for financial distress prediction , 2008, Knowl. Based Syst..

[36]  E. Triantaphyllou,et al.  Ranking irregularities when evaluating alternatives by using some ELECTRE methods , 2008 .

[37]  Agis M. Papadopoulos,et al.  Application of the multi-criteria analysis method Electre III for the optimisation of decentralised energy systems , 2008 .

[38]  Guo H. Huang,et al.  A MCDM-based expert system for climate-change impact assessment and adaptation planning - A case study for the Georgia Basin, Canada , 2008, Expert Syst. Appl..

[39]  Moussa Larbani,et al.  Multiobjective data envelopment analysis , 2009, J. Oper. Res. Soc..

[40]  Geert Wets,et al.  Benchmarking road safety: lessons to learn from a data envelopment analysis. , 2009, Accident; analysis and prevention.

[41]  Paul Kailiponi,et al.  Analyzing evacuation decisions using multi-attribute utility theory (MAUT) , 2010 .

[42]  Morteza Pakdin Amiri,et al.  Project selection for oil-fields development by using the AHP and fuzzy TOPSIS methods , 2010, Expert Syst. Appl..

[43]  Reza Baradaran Kazemzadeh,et al.  PROMETHEE: A comprehensive literature review on methodologies and applications , 2010, Eur. J. Oper. Res..

[44]  L. Ustinovichius,et al.  Sensitivity Analysis for Multiple Criteria Decision Making Methods: TOPSIS and SAW , 2010 .

[45]  Michael J. Shaw,et al.  A MCDM approach for sourcing strategy mix decision in IT projects , 2010, Expert Syst. Appl..

[46]  David R. Riley,et al.  Decision support for construction method selection in concrete buildings: Prefabrication adoption and optimization , 2010 .

[47]  Alexandre Veronese Bentes,et al.  Multidimensional assessment of organizational performance: Integrating BSC and AHP☆ , 2010 .

[48]  S. Giove,et al.  Regional risk assessment for contaminated sites part 1: vulnerability assessment by multicriteria decision analysis. , 2011, Environment international.

[49]  Chuen Tse Kuah,et al.  Efficiency assessment of universities through data envelopment analysis , 2011, WCIT.

[50]  Valentinas Podvezko,et al.  The Comparative Analysis of MCDA Methods SAW and COPRAS , 2011 .

[51]  S. J. Sadjadi,et al.  A robust super-efficiency data envelopment analysis model for ranking of provincial gas companies in Iran , 2011, Expert Syst. Appl..

[52]  Kim Bang Salling,et al.  MCDA and risk analysis in transport infrastructure appraisals: The Rail Baltica case , 2011 .

[53]  H. Haleh,et al.  A fuzzy MCDM model for allocating orders to suppliers in a supply chain under uncertainty over a multi-period time horizon , 2011, Expert Syst. Appl..

[54]  Jean-François Balmat,et al.  A decision-making system to maritime risk assessment , 2011 .

[55]  Emmanuel Thanassoulis,et al.  Improving envelopment in Data Envelopment Analysis under variable returns to scale , 2012, Eur. J. Oper. Res..

[56]  Young Min Kim,et al.  Using AHP to determine intangible priority factors for technology transfer adoption , 2012, Expert Syst. Appl..

[57]  O. G. Okeola,et al.  Evaluation of management alternatives for urban water supply system using Multicriteria Decision Analysis , 2012 .

[58]  Yusuf Tansel İç,et al.  An experimental design approach using TOPSIS method for the selection of computer-integrated manufacturing technologies , 2012 .

[59]  I-Shuo Chen,et al.  Ranking universities based on performance evaluation by a hybrid MCDM model , 2012 .

[60]  Morteza Yazdani,et al.  A state-of the-art survey of TOPSIS applications , 2012, Expert Syst. Appl..

[61]  Tsung-Cheng Wang.  The interactive trade decision-making research: An application case of novel hybrid MCDM model , 2012 .

[62]  Eun-Sung Chung,et al.  Prioritizing the best sites for treated wastewater instream use in an urban watershed using fuzzy TOPSIS , 2013 .