MULTI CRITERIA DECISION MAKING MODELS: AN OVERVIEW ON ELECTRE METHODS

In portfolio analysis, there are a few models that can be used. Therefore, the aim of this paper is to make an overview on multi criteria decision making models, in particular, on ELECTRE methods. We discuss the different versions of ELECTRE, which exist and why they exist. So, when speaking about ELECTRE methods structure, we have to consider two main procedures: construction of one or several outranking relation(s) procedure, and exploitation procedure. In the exploitation procedure, recommendations are elaborated from the results obtained in the first phase. The nature of the recommendation depends on the problematic: choosing, ranking or sorting. Each method is characterized by its construction and exploitation procedure. For choice problem, we can apply ELECTRE I, ELECTRE Iv, and ELECTRE IS; for ranking problem, we can apply ELECTRE II, ELECTRE III, ELECTRE IV and ELECTRE-SS; and for sorting problem we can apply ELECTRE TRI. Finally, some failings on ELECTRE methods assumptions are discussed, for instance, rank reversals. So, when analyzing portfolio management decision problem, the literature suggests AHP method and PROMETHEE family.CAPM; decision problem; multi criteria decision making models; ELECTRE family; ELECTRE rank reversals

Advances and Applications of Dezert-Smarandache Theory (DSmT) for Information Fusion (Collected Works), Vol. 4

The fourth volume on Advances and Applications of Dezert-Smarandache Theory (DSmT) for information fusion collects theoretical and applied contributions of researchers working in different fields of applications and in mathematics. The contributions (see List of Articles published in this book, at the end of the volume) have been published or presented after disseminating the third volume (2009, http://fs.unm.edu/DSmT-book3.pdf) in international conferences, seminars, workshops and journals. First Part of this book presents the theoretical advancement of DSmT, dealing with Belief functions, conditioning and deconditioning, Analytic Hierarchy Process, Decision Making, Multi-Criteria, evidence theory, combination rule, evidence distance, conflicting belief, sources of evidences with different importance and reliabilities, importance of sources, pignistic probability transformation, Qualitative reasoning under uncertainty, Imprecise belief structures, 2-Tuple linguistic label, Electre Tri Method, hierarchical proportional redistribution, basic belief assignment, subjective probability measure, Smarandache codification, neutrosophic logic, Evidence theory, outranking methods, Dempster-Shafer Theory, Bayes fusion rule, frequentist probability, mean square error, controlling factor, optimal assignment solution, data association, Transferable Belief Model, and others. More applications of DSmT have emerged in the past years since the apparition of the third book of DSmT 2009. Subsequently, the second part of this volume is about applications of DSmT in correlation with Electronic Support Measures, belief function, sensor networks, Ground Moving Target and Multiple target tracking, Vehicle-Born Improvised Explosive Device, Belief Interacting Multiple Model filter, seismic and acoustic sensor, Support Vector Machines, Alarm classification, ability of human visual system, Uncertainty Representation and Reasoning Evaluation Framework, Threat Assessment, Handwritten Signature Verification, Automatic Aircraft Recognition, Dynamic Data-Driven Application System, adjustment of secure communication trust analysis, and so on. Finally, the third part presents a List of References related with DSmT published or presented along the years since its inception in 2004, chronologically ordered

The ranking of football teams using concepts from the analytic hierarchy process.

A new method to rank football teams with the concepts associated with the Analytic Hierarchy Process(AHP) and Graph theory is developed in this thesis. A set of games is interpreted as a graph, in which every vertex represents a team, and every edge represents a team quality comparison evaluated directly from the score difference of a game. A weighted quality comparison value between every two teams is computed from the graph, based on the transitivity relationship of comparison values in the Analytic Hierarchy Process (AHP). All the quality comparison values are input into the software package Expert Choice as the pair-wise comparison values in term of team quality, then Expert Choice can give the rankings of the teams. The method is illustrated through the use of scores associated with the 2007 Big East Conference football season. This method accounts for the margin of victory (score difference) in the rankings, which is the main difference as compared to the computer methods in the BCS system. Another characteristic of our method is that our ranking method considers indirect comparison as well as direct comparison between teams, using Graph theory to integrate and weight all these comparisons

Decision-making methods in engineering design: a designer-oriented approach

The use of decisional methods for the solution of engineering design problems has to be tackled on a "human" viewpoint. Hence, fundamental is the identification of design issues and needs that become a designer oriented viewpoint. Decision-based methods are systematically classified in MCDM methods, Structured Design methods and Problem Structuring methods. The results are organised in order to provide a first reference for the designer in a preliminary selection of decision-based methods. The paper shows the heterogeneous use of decision-based methods, traditionally expected to solve only some specific design problems, which have been used also in different design contexts. Moreover, several design issues, which emerged from the review process, have been pointed out and discussed accordingly. This review provided useful results for the enlargement of the state of the art on Decision Based Design methods in engineering design contexts

Selection of Pressure Equation for Preliminary Planing Hull Design Using Modified Analytical Hierarchy Process

In the early stages of design when data availability is limited, engineers often times rely upon experience and regression analysis to select the most suitable design equation among many competitive ones. This study presents an alternative that applies a modified Analytical Hierarchy Process (AHP) to select the most suitable design equation. The Analytical Hierarchy Process, a multi-criteria decision making method, has been utilized in the business and management world to collect and evaluate experts\u27 opinions in order to arrive at a final decision. The Analytical Hierarchy Process employed here will treat each of the design equations as an expert and allow the decision maker to evaluate and weight the opinions of the experts. Selecting an impact pressure equation among seven semi-empirical and three classification societies\u27 design equations for planing hull design is used as an example to facilitate the study presented in this dissertation. The criteria and their associated weights that make up the decision making hierarchy of the Analytical Hierarchy Process are first established, with which the overall weighting coefficients can be computed to rank the candidate design equations. A preview sensitivity analysis is applied to screen out unfavorable design equations. The Analytical Hierarchy Process is then applied to select the most suitable impact pressure equation for twenty planing hulls. Next, a post sensitivity analysis is applied to ensure the robustness of the decision process. The results of such selection are compared with those of full scale test data. The implemented Analytical Hierarchy Process accurately selects the optimal pressure equation for fifteen of the twenty test cases. While it fails to select the best pressure design equation for the other five cases, it does provide recommendations that can lead to the selection of the right design equation. This study has demonstrated that the Analytical Hierarchy Process holds potential to be effective not only in selecting a suitable pressure equation for planing hull design but also in finding the strengths and the weaknesses of each of the pressure equations under consideration

Analysis of Decision Support Systems of Industrial Relevance: Application Potential of Fuzzy and Grey Set Theories

The present work articulates few case empirical studies on decision making in industrial context. Development of variety of Decision Support System (DSS) under uncertainty and vague information is attempted herein. The study emphases on five important decision making domains where effective decision making may surely enhance overall performance of the organization. The focused territories of this work are i) robot selection, ii) g-resilient supplier selection, iii) third party logistics (3PL) service provider selection, iv) assessment of supply chain’s g-resilient index and v) risk assessment in e-commerce exercises. Firstly, decision support systems in relation to robot selection are conceptualized through adaptation to fuzzy set theory in integration with TODIM and PROMETHEE approach, Grey set theory is also found useful in this regard; and is combined with TODIM approach to identify the best robot alternative. In this work, an attempt is also made to tackle subjective (qualitative) and objective (quantitative) evaluation information simultaneously, towards effective decision making. Supplier selection is a key strategic concern for the large-scale organizations. In view of this, a novel decision support framework is proposed to address g-resilient (green and resilient) supplier selection issues. Green capability of suppliers’ ensures the pollution free operation; while, resiliency deals with unexpected system disruptions. A comparative analysis of the results is also carried out by applying well-known decision making approaches like Fuzzy- TOPSIS and Fuzzy-VIKOR. In relation to 3PL service provider selection, this dissertation proposes a novel ‘Dominance- Based’ model in combination with grey set theory to deal with 3PL provider selection, considering linguistic preferences of the Decision-Makers (DMs). An empirical case study is articulated to demonstrate application potential of the proposed model. The results, obtained thereof, have been compared to that of grey-TOPSIS approach. Another part of this dissertation is to provide an integrated framework in order to assess gresilient (ecosilient) performance of the supply chain of a case automotive company. The overall g-resilient supply chain performance is determined by computing a unique ecosilient (g-resilient) index. The concepts of Fuzzy Performance Importance Index (FPII) along with Degree of Similarity (DOS) (obtained from fuzzy set theory) are applied to rank different gresilient criteria in accordance to their current status of performance. The study is further extended to analyze, and thereby, to mitigate various risk factors (risk sources) involved in e-commerce exercises. A total forty eight major e-commerce risks are recognized and evaluated in a decision making perspective by utilizing the knowledge acquired from the fuzzy set theory. Risk is evaluated as a product of two risk quantifying parameters viz. (i) Likelihood of occurrence and, (ii) Impact. Aforesaid two risk quantifying parameters are assessed in a subjective manner (linguistic human judgment), rather than exploring probabilistic approach of risk analysis. The ‘crisp risk extent’ corresponding to various risk factors are figured out through the proposed fuzzy risk analysis approach. The risk factor possessing high ‘crisp risk extent’ score is said be more critical for the current problem context (toward e-commerce success). Risks are now categorized into different levels of severity (adverse consequences) (i.e. negligible, minor, marginal, critical and catastrophic). Amongst forty eight risk sources, top five risk sources which are supposed to adversely affect the company’s e-commerce performance are recognized through such categorization. The overall risk extent is determined by aggregating individual risks (under ‘critical’ level of severity) using Fuzzy Inference System (FIS). Interpretive Structural Modeling (ISM) is then used to obtain structural relationship amongst aforementioned five risk sources. An appropriate action requirement plan is also suggested, to control and minimize risks associated with e-commerce exercises

Multi-criteria decision methods to support the maintenance management of complex systems

[ES] Esta tesis doctoral propone el uso de métodos de toma de decisiones multi-criterio (MCDM, por sus iniciales en inglés) como herramienta estratégica para apoyar la gestión del mantenimiento de sistemas complejos. El desarrollo de esta tesis doctoral se enmarca dentro de un acuerdo de cotutela entre la Università degli Studi di Palermo (UNIPA) y la Universitat Politècnica de València (UPV), dentro de sus respectivos programas de doctorado en 'Ingeniería de Innovación Tecnológica' y 'Matemáticas'. Estos programas están estrechamente vinculados a través del tópico MCDM, ya que proporciona herramientas cruciales para gestionar el mantenimiento de sistemas complejos reales utilizando análisis matemáticos serios. El propósito de esta sinergia es tener en cuenta de forma sólida la incertidumbre al atribuir evaluaciones subjetivas, recopilar y sintetizar juicios atribuidos por varios responsables de la toma de decisiones, y tratar con conjuntos grandes de esos elementos. El tema principal del presente trabajo de doctorado es el gestionamiento de las actividades de mantenimiento para aumentar los niveles de innovación tecnológica y el rendimiento de los sistemas complejos. Cualquier sistema puede ser considerado objeto de estudio, incluidos los sistemas de producción y los de prestación de servicios, entre otros, mediante la evaluación de sus contextos reales. Esta tesis doctoral propone afrontar la gestión del mantenimiento a través del desarrollo de tres líneas principales de investigación estrechamente vinculadas. ¿ La primera es el núcleo, e ilustra la mayoría de los aspectos metodológicos de la tesis. Se refiere al uso de métodos MCDM para apoyar decisiones estratégicas de mantenimiento, y para hacer frente a la incertidumbre que afecta a los datos/evaluaciones, incluso cuando están involucrados varios responsables (expertos en mantenimiento) en la toma de decisiones. ¿ La segunda línea desarrolla análisis de fiabilidad para sistemas complejos reales (también en términos de fiabilidad humana) sobre cuya base se debe implementar cualquier actividad de mantenimiento. Estos análisis consideran la configuración de fiabilidad de los componentes del sistema en estudio y las características específicas del entorno operativo. ¿ La tercera línea de investigación aborda aspectos metodológicos importantes de la gestión de mantenimiento y enfatiza la necesidad de monitorizar el funcionamiento de las actividades de mantenimiento y de evaluar su efectividad utilizando indicadores adecuados. Se ha elaborado una amplia gama de casos de estudio del mundo real para evaluar la eficacia de los métodos MCDM en el mantenimiento y así probar la utilidad del enfoque propuesto.[CA] Aquesta tesi doctoral proposa l'ús de mètodes de presa de decisions multi-criteri (MCDM, per les seves inicials en anglès) com a eina estratègica per donar suport a la gestió del manteniment de sistemes complexos. El desenvolupament d'aquesta tesi doctoral s'emmarca dins d'un acord de cotutela entre la Università degli Studi di Palermo (UNIPA) i la Universitat Politècnica de València (UPV), dins dels seus respectius programes de doctorat en 'Enginyeria d'Innovació Tecnològica' i ' Matemàtiques '. Aquests programes estan estretament vinculats a través del tòpic MCDM, ja que proporciona eines crucials per gestionar el manteniment de sistemes complexos reals utilitzant anàlisis matemàtics profunds. El propòsit d'aquesta sinergia és tenir en compte de forma sòlida la incertesa en atribuir avaluacions subjectius, recopilar i sintetitzar judicis atribuïts per diversos responsables de la presa de decisions, i tractar amb conjunts grans d'aquests elements en els problemes plantejats. El tema principal del present treball de doctorat es la gestió de les activitats de manteniment per augmentar els nivells d'innovació tecnològica i el rendiment dels sistemes complexos. Qualsevol sistema pot ser considerat objecte d'estudi, inclosos els sistemes de producció i els de prestació de serveis, entre d'altres, mitjançant l'avaluació dels seus contextos reals. Aquesta tesi doctoral proposa afrontar la gestió del manteniment mitjançant el desenvolupament de tres línies principals d'investigació estretament vinculades. ¿ La primera és el nucli, i il·lustra la majoria dels aspectes metodològics de la tesi. Es refereix a l'ús de mètodes MCDM per donar suport a decisions estratègiques de manteniment, i per fer front a la incertesa que afecta les dades/avaluacions, fins i tot quan estan involucrats diversos responsables (experts en manteniment) en la presa de decisions. ¿ La segona línia desenvolupa anàlisis de fiabilitat per a sistemes complexos reals (també en termes de fiabilitat humana) sobre la qual base s'ha d'implementar qualsevol activitat de manteniment. Aquestes anàlisis consideren la configuració de fiabilitat dels components del sistema en estudi i les característiques específiques de l'entorn operatiu. ¿ La tercera línia d'investigació aborda aspectes metodològics importants de la gestió de manteniment i emfatitza la necessitat de monitoritzar el funcionament de les activitats de manteniment i d'avaluar la seva efectivitat utilitzant indicadors adequats. S'ha elaborat una àmplia gamma de casos d'estudi del món real per avaluar l'eficàcia dels mètodes MCDM en el manteniment i així provar la utilitat de l'enfocament proposat.[EN] This doctoral thesis proposes using multi-criteria decision making (MCDM) methods as a strategic tool to support maintenance management of complex systems. The development of this doctoral thesis is framed within a cotutelle (co-tutoring) agreement between the Università degli Studi di Palermo (UNIPA) and the Universitat Politècnica de València (UPV), within their respective programmes of doctorates in 'Technological Innovation Engineering' and 'Mathematics'. Regarding this thesis, these programmes are closely linked through the topic of MCDM, providing crucial tools to manage maintenance of real complex systems by applying in-depth mathematical analyses. The purpose of this connection is to robustly take into account uncertainty in attributing subjective evaluations, collecting and synthetizing judgments attributed by various decision makers, and dealing with large sets of elements characterising the faced issue. The main topic of the present doctoral work is the management of maintenance activities to increase the levels of technological innovation and performance of the analysed complex systems. All kinds of systems can be considered as objects of study, including production systems and service delivery systems, among others, by evaluating their real contexts. Thus, this doctoral thesis proposes facing maintenance management through the development of three tightly linked main research lines. ¿ The first is the core and illustrates most of the methodological aspects of the thesis. It refers to the use of MCDM methods for supporting strategic maintenance decisions, and dealing with uncertainty affecting data/evaluations even when several decision makers are involved (experts in maintenance). ¿ The second line develops reliability analyses for real complex systems (also in terms of human reliability analysis) on the basis of which any maintenance activity must be implemented. These analyses are approached by considering the reliability configuration of both the components belonging to the system under study and the specific features of the operational environment. ¿ The third research line focuses on important methodological aspects to support maintenance management, and emphasises the need to monitor the performance of maintenance activities and evaluate their effectiveness using suitable indicators. A wide range of real real-world case studies has been faced to evaluate the effectiveness of MCDM methods in maintenance and then prove the usefulness of the proposed approach.Carpitella, S. (2019). Multi-criteria decision methods to support the maintenance management of complex systems [Tesis doctoral no publicada]. Universitat Politècnica de València. https://doi.org/10.4995/Thesis/10251/11911