Management and Business Decision Making

This project concerns helping people to make complex decisions. A new approach to select a Multiple Criteria Decision Making (MCDM) method for a problem is presented. The project is concerned with an analysis of MCDM problems and methods and robustness of results.
MCDM methods suitable for a specific problem will be studied, then sensitivity analysis will be conducted on the outcomes of the methods to recommend the method that delivered the most robust outcome. Sensitivity analysis is used for the first time to provide a scientific justification for selecting a MCDM method. Once performance measures and criteria weights are identified then sensitivity analysis and other mathematical approaches are applied to the output of the methods to define the most critical criteria and the most critical performance measures. A MCDM method is recommended that provides the most robust outcome with a compromise between the minimum percentage change required in the most critical criteria and the most critical performance measures to alter the outcome.