Development of Reusable Bid Evaluation Models for the Portuguese Electric Transmission Company

Abstract

B id evaluation is the process of selecting a contractor from a number of bidders. The decision analysis models currently in use at the Portuguese Electric Transmission Company (REN) to evaluate bids were developed through a decision-conferencing process supported by the MACBETH multicriteria approach and software. This paper presents the various components of this interactive sociotechnical process. Given the number of contracts awarded by REN each year, it was crucial that the models be reusable in similar calls for tenders; this required substantial care in structuring the criteria, with a focus on constructed scales, and building value function models based on qualitative pairwise comparison judgments of difference in attractiveness. Also of particular interest is the approach for weighing benefits against costs.

Using Multiple Criteria Decision Analysis (Mcda) to Assist in Estimating Residential Housing Values

“…Specifically: C 0 -null; C 1 -very weak; C 2 -weak; C 3 -moderate; C 4 -strong; C 5 -very strong; and C 6 -extreme (cf. Bana e Costa et al 1999Costa et al , 2008.…”

“…Technically, if a is considered more attractive than b and the difference between both choice alternatives is moderate, then (a, b) ∈ C 3 . According to Bana e Costa et al (2008), whereas two contiguous ranges correspond to two consecutive categories, the procedure consists in the association of asymmetric partitions of the ray of positive real numbers to partition classes of ordered pairs (a, b) (with a P b) (see also Bana e Costa et al 2012). In this sense, intervals between consecutive categories of differences of attractiveness are naturally introduced based on a value function v and function thresholds s k as defined in formulation (1):…”

A Multiple Criteria Framework to Evaluate Bank Branch Potential Attractiveness

“…More specifically, if a is considered more attractive than b and the difference between both actions is extreme, then (a, b) ∈ C 6 . Whereas two contiguous ranges correspond to two consecutive qualitative categories of difference of attractiveness, the technical procedure consists in associating asymmetric partitions of the ray of positive real numbers to partition classes of ordered pairs (a, b) (with a P b) (see Bana e costa et al, 2008). for this purpose, intervals between categories of consecutive differences of attractiveness are introduced based on a value function v and function thresholds s k as presented in (1).…”

Explaining robust additive utility models by sequences of preference swaps

“…This technique is used in the field of experimental design (yielding the one-factor-at-a-time or the factorial experiments methods), as well as in multicriteria decision aiding. For instance, the MACBETH method [BV95,BLCB08] is based on binary alternatives : in order to assess hidden technical parameters (the weights of the various criteria), the decision maker is asked to express preference between prototypical alternatives, traditionally referencing a neutral level i (for technological products, representing the attribute of a mid-range, available product), and a high level ⊺ i (representing the attribute of a luxury product, or a hypothetical performance demanding a technological breakthrough). Note that, while MACBETH assumes commensurability between the neutral levels ( i ) i∈N and between the high levels (⊺ i ) i∈N (representing the satisfying reference level, in the sense of Simon [Sim56], commensurability is neither needed nor assumed in this article.…”