A review of selected weighing methods in MCDM with a case study
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ORIGINAL ARTICLE
A review of selected weighing methods in MCDM with a case study Meenu Singh1
•
Millie Pant1
Received: 7 February 2020 / Revised: 17 July 2020 Ó The Society for Reliability Engineering, Quality and Operations Management (SREQOM), India and The Division of Operation and Maintenance, Lulea University of Technology, Sweden 2020
Abstract The Decision-making is undeniable and is an integral part of in almost all the processes either in the complex form or as a simple procedure. It often refers to the prioritizing (ranking) the alternatives based on several conflicting criteria. To ensure that the process of decision making runs smoothly with minimum errors, multiple criteria decision-making abbreviated as ‘‘MCDM’’ is used for obtaining the solution. The present work emphasized on the weighing methods, an important aspect in MCDM methods, that accurately determines the relative importance of each criterion. The relative importance of each criterion is determined by a set of preferences, called weights, represented between 0 and 1. The weights of criteria influence the outcome of any decision-making process, so it is essential to highlight the significance of weighing methods in determining the criteria preference. In literature, researchers have reported various weighing methods for calculating the relative weights of criteria used for ranking the alternatives. The present study, provides an overview of the some popular weighing methods applicable to the MCDM process and also shows the performance of these methods through a case study. Keywords Multiple criteria decision-making Weighing methods AHP ANP BWM
& Meenu Singh [email protected] Millie Pant [email protected] 1
Department of Applied Science and Engineering, Indian Institute of Technology (IIT) Roorkee, Saharanpur Campus, Roorkee 247667, India
1 Introduction Decision-making process is an essential part of every research as it helps in prioritizing the available alternatives based on decision makers (DMs) preferences with respect to a set of given criteria. Multiple criteria decision-making (MCDM) is the solution tool that supports the decision making process by evaluating the set of alternatives based on the set of various conflicting criteria in an explicit and transparent way. The DMs give the relative importance to these identified criteria, also called weights, which are the set of preferences given to each criterion by the DMs. The weights of criteria are very crucial and imperative to the problem as they influence the outcome of the decisionmaking process and may lead to unpredictable results. The criteria play a significant role in the ranking of the alternatives and hence can be objective, subjective, incommensurable, and conflicting in nature. Therefore, the selection of the weighing method is an essential part of any MCDM problem as it quantitatively determines the relative importance of criteria and leaves a high impact on the reliability and accuracy of the decision results. The weighing methods can be broadly clas
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