Terminology of Multiple Criteria Decision Making
Fig 1. Multiple Criteria Decision Making
Multiple Criteria Decision Making
Decision making in the presence of multiple, potentially conflicting criteria can be broadly classified as one of two types:
- Selection of an alternative or alternatives from a menu or catalogue based on prioritised attributes of the alternatives (Multiple Attribute Decision Making or MADM)
- Synthesis of an alternative or alternatives on the basis of prioritised objectives (Multiple Objective Decision Making or MODM)
The Goal of the decision making process is to adjust operational parameters in order to minimise (or maximise) a defined objective function. Goals must satisfy the constraints.
Constraints are the bounds on decision variables and state variables, such as ensuring a minimum operation cost, time, resource utilisation etc.
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