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How do we assign weights to criteria Is it always based ...

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How do we assign weights to criteria? Is it always based strictly on logic and achieving the best quantitative result?
Submitted: 7 years ago.
Category: Homework
Expert:  Chris Parker replied 7 years ago.
HiCustomer

Multi criteria decision problems usually involve the selection of a number of alternatives to arrive at an overall result which is based on the suitability of the alternatives to a set of criteria. Weights are usually assigned to criteria based on the importance of the criteria to the decision maker, and criteria are rarely of equal importance to a decision maker. The synthesis of an alternative is mainly done on the basis of prioritized objectives.

When a suitable process is decided and applied to a problem, rating of the alternatives can be converted into ranks, based basically on the preferences of a decision maker. Once the a list of key features is arrived at, they are ordered from most to least important.

Ranking is determined according to:

* Personal preferences.
* Relationship with disciplinary preferences.
* In terms of their meaning.

It is also important to identify other features that are used in the decision maker's comprehensive evaluation that aren't being used in his criteria-based evaluation.The list may also be needed to be revised and checked if it suits the decision maker's initial requirements. When this process is completed, the decision maker's assessment should reflect in the rankings given to specific features. When the decision maker has a good sense of the criteria and the overall assessment is well aligned, it 's time to assign weights to criteria.

Weights are always assigned strictly based on the logic of the decision making authorities, but they are not always assigned keeping just quantitative results in mind, sometimes, weights can also be assigned to criteria for purely qualitative purposes.

Hope this information was useful to you.

Regards,

Chris

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The Professor, Taught at USC Years Ago
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Experience: Engineering Degree, Tutoring Experience, USC Faculty (Retired)
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Engineering Degree, Tutoring Experience, USC Faculty (Retired)