Foundations of Decision Making

Stefan Beissel ()

Chapter Chapter 5 in Cybersecurity Investments, 2016, pp 143-157 from Springer

Abstract: Abstract The decision making process should not be underestimated when selecting a safeguard that is both appropriate for the individual protection needs of the company and reasonable under economic aspects. Therefore, using a well-founded technique for decision making is essential. At first, the motives and foundations of decision making are described in this chapter. Afterwards, the most common decision making techniques—the simple additive weighting and the analytic hierarchy process—are explained. Hereby, not only the general process but also the basics for mathematical calculations are illustrated. Besides, the difficulties that a company might face during the decision making process are addressed. With multiple details and examples, possible difficulties under the aspects of cost, time and quality are pointed out. Furthermore, possible interdependencies to other parties are described. Only the systematic and thoughtful application of a decision making technique under consideration of difficulties promises success when searching the best safeguard.

Keywords: Decision Making; Decision Maker; Analytic Hierarchy Process; Evaluation Matrix; Cloud Service Provider (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prochp:978-3-319-30460-1_5

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DOI: 10.1007/978-3-319-30460-1_5

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