Multi-Criteria Decision-Making (MCDM) is for assessing trade-offs between multiple criteria (or objectives) in order to rank, prioritize or choose from among alternatives.
The information presented here is practical and user-oriented:
- Multi-criteria decisions
- Points systems
- Scoring methods
- MCDM groups and websites
- Books and journals
In addition, here is a collection of ‘recommended readings’ that we have found useful in MCDM courses we’ve taught.
The process of Multi-Criteria Decision-Making
1000minds is based on MCDM, which involves these four key components:
- Alternatives (or individuals) to be prioritized or ranked
- Criteria by which the alternatives are evaluated and compared
- Weights representing the relative importance of the criteria
- Decision-makers and other stakeholders, whose preferences are to be represented
Most decision-making applications involve the process represented below (at least implicitly). 1000minds is especially useful at the “Model building” and “Challenging thinking” stages.(Reproduced from Belton & Stewart, 2002, Multiple Criteria Decision Analysis: An Integrated Approach.)
How 1000minds works
Learn more from these simple guides.