A review of selected weighing methods in MCDM with a case study

Meenu Singh () and Millie Pant ()
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Meenu Singh: Indian Institute of Technology (IIT) Roorkee
Millie Pant: Indian Institute of Technology (IIT) Roorkee

International Journal of System Assurance Engineering and Management, 2021, vol. 12, issue 1, No 14, 126-144

Abstract: Abstract The Decision-making is undeniable and is an integral part of in almost all the processes either in the complex form or as a simple procedure. It often refers to the prioritizing (ranking) the alternatives based on several conflicting criteria. To ensure that the process of decision making runs smoothly with minimum errors, multiple criteria decision-making abbreviated as "MCDM" is used for obtaining the solution. The present work emphasized on the weighing methods, an important aspect in MCDM methods, that accurately determines the relative importance of each criterion. The relative importance of each criterion is determined by a set of preferences, called weights, represented between 0 and 1. The weights of criteria influence the outcome of any decision-making process, so it is essential to highlight the significance of weighing methods in determining the criteria preference. In literature, researchers have reported various weighing methods for calculating the relative weights of criteria used for ranking the alternatives. The present study, provides an overview of the some popular weighing methods applicable to the MCDM process and also shows the performance of these methods through a case study.

Keywords: Multiple criteria decision-making; Weighing methods; AHP; ANP; BWM (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (4)

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DOI: 10.1007/s13198-020-01033-3

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