Multi-attribute decision making: A simulation comparison of select methods

Zanakis, Stelios H.; Solomon, Anthony W.; Wishart, Nicole; Dublish, Sandipa

doi:10.1016/s0377-2217(97)00147-1

Cited by 851 publications

(468 citation statements)

References 28 publications

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“…The case study findings also show an inverted U-shaped relationship between the efficiency of the decision making task and the amount of value information provided, a phenomenon already observed, in a more general context, by Zahakis and his team [41]. Hence, dealing with 5 or 6 main value criteria may result to be as effective as using 200, but considerably less effective than using 25-30.…”

Section: How To Visualize Value?supporting

confidence: 62%

Using 3D CAD Models for Value Visualization: An Approach with SIEMENS NX HD3D Visual Reporting

Bertoni¹,

Bertoni²,

Broeze³

et al. 2013

Computer-Aided Design and Applications

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Recent literature in Systems Engineering has suggested the use of "value" to drive decision-making activities during preliminary design, in particular when choosing technologies and components for a complex system. However, to correctly evaluate design trade-offs, a visual link has to be established between the results of the value model and a product shape/geometry. This paper proposes the use of color-coded 3D CAD models to support the visualization of value analysis results in a Stage-Gate® process. The approach has been developed and exemplified within a case study related to the design of an aero-engine component, and has been demonstrated using SIEMENS NX HD3D Visual Reporting. The results of verification activities conducted in a laboratory setting show that the use of color-coded 3D CAD models increases the decision makers' awareness of value-related information in a Stage-Gate process.Keywords: value driven design, value visualization, color-coding. DOI: 10.3722/cadaps.2013.xxx-yyy INTRODUCTIONAll designs are created for a purpose. When dealing with well-defined and known problems, this purpose is well mirrored by the product requirements, which provide a good enough basis to identify the best of the available design alternatives. However, in long and complex new development processes that involve several supply chain partners, the purpose is often lost when requirements are cascaded down to suppliers and sub-contractors [16]. This causes component manufacturers to develop local optimal solutions that minimize cost, rather than to target innovative technologies that might add value to customers' and stakeholders' processes. In this context, measuring requirements fulfilment is no longer sufficient to assess the "goodness" of a design [7][13], rather more qualitative criteria need to be considered to better understand the value of a solution from a system viewpoint [37].Recent literature in Systems Engineering [24] and Value Driven Design (VDD) [12] has promoted the use of "value" as a driver for decision-making activities in preliminary design. The ambition is to use "value" to provide a measurable approximation of the level of fulfillment of the overall system needs ensured by a design solution [8]. In practice, so called "value models" are built to quantitatively

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Section: How To Visualize Value?supporting

confidence: 62%

Using 3D CAD Models for Value Visualization: An Approach with SIEMENS NX HD3D Visual Reporting

Bertoni¹,

Bertoni²,

Broeze³

et al. 2013

Computer-Aided Design and Applications

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“…These advantages make TOPSIS a popular MCDM technique as compared with other related techniques such as AHP and ELECTRE [21]. In fact, TOPSIS is a value-based process that compares each alternative directly depending on information in the evaluation matrices and weights [5].…”

Section: Introductionmentioning

confidence: 99%

Interactive TOPSIS Based Group Decision Making Methodology Using Z-Numbers

Yaakob¹,

Gegov²

2016

IJCIS

102

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The ability in providing result that is consistent with actual ranking remains the major concern in group decision making environment. The main aim of this paper is to introduce a novel modification of TOPSIS method to facilitate multi criteria decision making problems based on the concept of Z-numbers called Z-TOPSIS. The proposed method is adequate and intuitive in giving meaningful structure for formalizing information of a decision making problem, as it takes into account the decision makers' reliability. This study also provides bridge with some established knowledge in fuzzy sets to certain extend as to strengthen the concept of ranking alternatives using Znumbers. To ensure practicality and effectiveness of proposed method, stock selection problem is studied. The ranking based on proposed method is validated comparatively using spearman rho rank correlation. Based on the analysis, the proposed method outperforms the established TOPSIS methods in term of ranking performance.

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“…MAUT works in different applications such as energy policy [132]- [133], risk analysis [134], power plant [135], climate change mitigation [136], environmental analysis [137], building energy [138], green supply energy management [139], wind energy [140] and decision models for project selection [141].…”

Section: Multi-attribute Utility Theory (Maut)mentioning

confidence: 99%

Technology Assessment Model of Developing Geothermal Energy Resources for Supporting Electrical System: The Case for Oregon

Alshareef¹

2000

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The demand for energy is increasing worldwide. All applications contributed to increase the demand of all energy industry, and therefore the effect on the environment and the rise in pollution increased significantly. This is considered a large problem, and researchers focused their research on renewable energy for reducing the cost of energy in the future. Geothermal energy has significant impact as a source of electricity generation since it will not harm the environment. There are more than twenty countries that benefit from geothermal plants, which generate more than 6000 megawatts .Three alternatives of geothermal energy technology (GHP, Direct use of Geothermal Heat, and Geothermal Electricity) can be used for supporting electrical systems in Oregon. At the same time, the success of using the geothermal energy alternatives in Oregon relies on different goals for achieving the best geothermal development. Oregon has been ranked third in the potential use of geothermal energy after Nevada and California.The objective from the research study was to develop an assessment model framework that can be used for supporting cost effective renewable energy in Oregon by the development of geothermal energy sources. This research of study was done by using

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Multi-attribute decision making: A simulation comparison of select methods

Cited by 851 publications

References 28 publications

Using 3D CAD Models for Value Visualization: An Approach with SIEMENS NX HD3D Visual Reporting

Using 3D CAD Models for Value Visualization: An Approach with SIEMENS NX HD3D Visual Reporting

Interactive TOPSIS Based Group Decision Making Methodology Using Z-Numbers

Technology Assessment Model of Developing Geothermal Energy Resources for Supporting Electrical System: The Case for Oregon

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