The Decision Making With Multiple Criteria - 893 Words

The decision making with multiple criteria (MCDM) has been successfully used in complex business problems. There are several methods for MCDM, such as Analytic Hierarchy process (AHP), Potentially All Pairwise Rankings of All Possible Alternatives (PAPRIKA), Weighted Sum Mode (WSM), Analytic network process (ANP), Multi-Attribute Utility Theory (MAUT) and so forth. In this article, the ANP will be compared with AHP. The reason for choosing this two method is because they are commonly used in the current decision-making software, such as â€Å"Decision Lensâ„ ¢1†, â€Å"Supper decisionsâ„ ¢Ã¢â‚¬ , â€Å"Expert Choiceâ„ ¢2†, â€Å"Logical Decisions†. This makes me curiously to known they unique features, scope of application, pros and cons. The ANP is a more general form of the AHP. In the view point of the concept, these two share some common features, comparing with other MCDM methods. The most significant different between the ANP and AHP is the concept of the hierarchy vs. the network3. In the AHP4, each element in the hierarchy is considered to be independent of all the others. The decision criteria are considered to be independent of one another. AHP improve this consideration making it more relevant to the real world situation. The relationship between various criteria (items, alternatives) are considered to be dependent, and the interdependent, and their interrelations are shown in the defined nodes and interconnections. To illustrate this, one example was provided here. Example: In theShow MoreRelatedPlatform Strategies For Multiple Criteria Decision Making899 Words   |  4 PagesOrganization [44]. 2.3Overview of Multiple Criteria Decision Making (MCDM) Decision making is the study of identifying and choosing alternatives based on the values and preferences of the decision maker. 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