Multicriteria Decision Methods for RRM Models

Eduarda Asfora Frej () and Adiel Teixeira de Almeida ()
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Eduarda Asfora Frej: Universidade Federal de Pernambuco
Adiel Teixeira de Almeida: Universidade Federal de Pernambuco

A chapter in Multicriteria and Optimization Models for Risk, Reliability, and Maintenance Decision Analysis, 2022, pp 3-28 from Springer

Abstract: Abstract Multiple criteria decision-making/aiding (MCDM/A) situations involve one (or more) individual(s) with decision-making power, a set of decision alternatives, and a set of conflicting objectives with respect to which alternatives are evaluated. Building mathematical models for dealing with decision processes based on structured methods, which have been developed specifically for modeling preferences, can be a useful approach for tackling such situations in practice, due to the high amount of information and complexity involved, especially those within the scope of risk, reliability, and maintenance (RRM). In this context, this chapter gives an overview of MCDM/A methods that have been developed for dealing with the preferences of decision makers (DMs) and build a recommendation regarding the decision alternatives. MCDM/A methods for both compensatory and non-compensatory rationalities are presented here. In addition to these classical methods, this chapter also points to new challenges and future developments within the field of decision-making for RRM models.

Keywords: Multicriteria decision-making/aiding; Preference modeling; Decision under risk; Multicriteria methods (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/978-3-030-89647-8_1

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