The class project is an opportunity for you to work on a problem of your own choosing. You can select a difficult decision or you could engage in a market research-based application (e.g. new product development). The objective is for you is to use 1000minds Decision Making Software to apply the techniques of Multi-Criteria Decision-Making and Conjoint Analysis.

You can check out some examples of other student projects on the research projects page.  Simply scroll down to “Colorado State University-Pueblo” and “University of Otago MBA”.
 

Key components of your project should include:

  1. ‘Frame’ the decision-making problem or issue being addressed (e.g. see the flow-diagram below), such as:

    • What are the characteristics of the problem?
    • What is it that you’re trying to decide (or discover)?
    • What are the alternatives being considered?
    • Why is the decision important or interesting?
    • Who are the key decision-makers?
    • What might the results be used for? etc
       
  2. Use 1000minds to work on the particular problem or application you have identified.
  3. Discuss your results & analysis in a well-written report.
  4. Present your project to the class.(optional)
     

The process of Multi-Criteria Decision-Making

Depending on your application, decision-making processes typically include several stages and feedback loops. 1000minds is especially useful at the “Model building” and “Challenging thinking” stages.

Process of MCDA - Figure 1.1 - Belton and Stewart, 2002

(Reproduced from Belton & Stewart, 2002, Multiple Criteria Decision Analysis: An Integrated Approach.)