A Framework for Building Multicriteria Decision Models with Regard to Reliability, Risk, and Maintenance

Adiel Teixeira de Almeida () and Lucia Reis Peixoto Roselli ()
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Adiel Teixeira de Almeida: Universidade Federal de Pernambuco
Lucia Reis Peixoto Roselli: Universidade Federal de Pernambuco

A chapter in Multicriteria and Optimization Models for Risk, Reliability, and Maintenance Decision Analysis, 2022, pp 57-75 from Springer

Abstract: Abstract Reliability, risk, and maintenance (RRM) activities can affect the strategic success of any organization. Therefore, their influence on decision-making processes is important and mostly includes multiple objectives for the decision maker (DM). In order to deal with such a multicriteria decision process, a framework for building decision models in the RRM context is presented in this chapter. This framework is based on previous studies. It adds new features for an in-depth examination of a major factor in RRM problems, which is related to the probabilistic characteristic of such decision problems. Furthermore, this framework provides some aspects within the model, such as: preference modeling with regard to a DM’s preferences and probabilistic modeling related to two kinds of information, namely that from data and that from experts’ prior knowledge. When the process of preference modeling is adequate, it supports how best to choose an appropriate MCDM/A (multicriteria decision-making/aiding) method. There are different ways of classifying these methods and the one that this framework considers is how best to evaluate the DM’s compensatory and non-compensatory rationality.

Keywords: Framework; Multicriteria decision; Decision models; Preference modeling; Probabilistic modeling (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/978-3-030-89647-8_4

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