Analysis and classification of the multi-criteria decision-making methods
Year: 2024
Type: article
Abstract: Decision-making requires in-depth analysis through the evaluation and comparison of various alternative solutions. These tasks are characterized by multiple criteria used for comparison. The variability of parameters and conditions in decision-making has led to the development of numerous methods aimed at facilitating this process effectively. Currently, several hundred multi-criteria decision-making methods are known, making it challenging to select the most appropriate one for practical use. Therefore, research on the analysis, classification, and systematization of multi-criteria decision-making methods is relevant and essential for decision-makers and developers of decision support systems. Most classifications emphasize the methodologies and purposes of these methods, often overlooking their inherent limitations. This article attempts to systematize the main multi-criteria decision-making methods, considering their limitations. It analyzes the most widely used methods and their classifications. Based on identified limitations, the paper proposes a classification of multi-criteria decision-making methods and guidelines for selecting them. Applying this approach can enhance the validity of method selection and, consequently, the effectiveness of the decisions made.
Source: Ontology of Designing
Author: Vasiliy B. Chechnev
Institution: Bauman Moscow State Technical University
Language: English
Field: Decision Sciences
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4404182586