An Approximate Measure of Value

Churchman, C. West; Ackoff, Russell L.

doi:10.1287/opre.2.2.172

Cited by 301 publications

(150 citation statements)

References 1 publication

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“…Churchman and Ackoff [61] was the first utilize the SAW method to cope with a portfolio selection problem. SAW was applied in materials selection upon several alternatives including composites and other materials used for bipolar plate in proton exchange membrane fuel cells [62].…”

Section: Simple Additive Weighting (Saw)mentioning

confidence: 99%

Multi-criteria decision-making tools for material selection of natural fibre composites: A review

Muhammad¹,

Sapuan²,

Mastura³

2018

J. MECH. ENG. SCI.

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Materials selection in manufacturing process is an important stage and should be performed in parallel with selection of manufacturing process. In automotive industry, production of green automotive component could utilize the natural sources such as plant fibres. In recent years, several multi-criteria decision-making (MCDM) techniques are suggested to choose the best materials for particular application. Materials selection tools for natural fibre composites are studied from past researchers with the summary of the advantage and disadvantages. In addition, new optimization approach in materials selection by using statistical analysis such as multiple linear regression (MLR), response surface methodology (RSM) and Taguchi method (TM) is proposed in this study. The proposed method could evaluate the criteria or attribute in materials selection precisely by analyse the relationship of the parameters, goodness of fit, correlation, analysis of variance (ANOVA), determination of coefficient and the significant criteria in to the desired goal of the design problem.

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Section: Simple Additive Weighting (Saw)mentioning

confidence: 99%

Multi-criteria decision-making tools for material selection of natural fibre composites: A review

Muhammad¹,

Sapuan²,

Mastura³

2018

J. MECH. ENG. SCI.

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“…Its major principles were also described in the papers of Churchman and Ackoff (1954) and Klee (1971).…”

Section: Review Of the Multiple Criteria Decision Making Methodsmentioning

confidence: 99%

Multiple Criteria Assessment of Alternatives for Built and Human Environment Renovation

Tupėnaitė

Zavadskas

Kaklauskas

et al. 2010

Journal of Civil Engineering and Management

168

116

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Abstract. The built environment is not constructed in empty space. It refers to human -made spaces they live and work in and which are affected by various micro, meso and macro level factors. For this purpose, renovation decisions must be considered avoiding a narrow approach to the single projects of building renovation. Renovation of the built and human environment must be considered instead and the holistic approach used. From this perspective, decision-making problems of renovation often involve a complex decision making process in which multiple requirements and conditions have to be taken into consideration simultaneously. This paper describes the concept of the integrated analysis of built and human environment renovation as a whole as well as presents the multiple criteria assessment of alternatives of the Bulgarian cultural heritage renovation projects. The widely known multiple criteria assessment methods SAW, TOPSIS and COPRAS and the newly developed method ARAS were used for this purpose. As a result the best project for granting was selected.

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“…Consequently, the method of multiple objectives which uses non-subjective dimensionless measures without normalization is more robust than this one which uses for normalization subjective weights (weights were already introduced by Churchman, Ackoff in 1954 andChurchman et al 1957) or subjective non-additive scores like in the traditional reference point theory (Brauers 2004: 158-159) 4 . 4 The additive method with weights starts from the following formula:…”

Section: 2) For Normalizationmentioning

confidence: 99%

Project Management by Multimoora as an Instrument for Transition Economies / Projektų Vadyba Su Multimoora Kaip Priemonė Pereinamojo Laikotarpio Ūkiams

Brauers

Zavadskas

2010

Technological and Economic Development of Economy

531

170

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The countries of Central and Eastern Europe moved from a previously centrally planned economy to a modern transition economy with strong market aspects. This paper proposes project management as an answer to this transition. Traditional Cost‐Benefit analysis does not respond to this purpose. Indeed Cost‐Benefit analysis is only interested in one specific project and not in a competition between projects. In addition all goals (objectives) have to be translated into money terms, leading sometimes to immoral consequences. On the contrary Multi‐Objective Optimization takes care of different objectives, whereas the objectives keep their own units. However different methods exist for the application of Multi‐Objective Optimization. The authors tested them after their robustness resulting in seven necessary conditions. MOORA (Multi‐Objective Optimization by Ratio analysis) and MULTIMOORA (MOORA plus Full Multiplicative Form), assisted by Ameliorated Nominal Group and Delphi Techniques, satisfy the seven conditions, although in a theoretical way. A simulation exercise illustrates the use of these methods, ideals to be strived for as much as possible. Santrauka Centrinės ir rytų Europos šalys perėjo iš anksčiau centralizuotai planuojamos ūkinės sistemos į šiuolaikinę pereinamąją ūkinę sistemą, kuriai būdingi ryškūs rinkos požymiai. Šiame straipsnyje siūloma projektų vadyba kaip atsakas į perėjimą. Įprastinė kainos ir naudos analizė tam tikslui yra netinkama. Be viso to, kainos ir naudos analizėje neatsižvelgiama į kiekvieną atskirai paimtą projektą bei į konkurenciją tarp tų projektų. Visi tikslai turi būti pakeisti piniginėmis vertėmis. Del to kartais kyla nepageidaujamų pasėkmių. Priešingai tam daugiatikslė optimizacija atsižvelgia į skirtingus tikslus, išsaugant tikslams būdingus mato vienetus. Yra daug įvairių daugiatikslės optimizacijos metodų. Autoriai patikrino jų stipriasias savybęs pagal septynias būtinasias sąlygas. MOORA (daugiatikslė optimizacija santykių dydžių analizės pagrindu) ir MULTIMOORA (MOORA plius pilnoji sandaugos forma), apimanti patobulintą normaliųjų grupių ir Delphi būdus, geriausiai atitinka septynias būtinąsiąs sąlygas taip pat ir teoriniu lygmeniu. Pavyzdžio modelis iliustruoja šiu metodu taikymą, idealai buvo pasiekti tiek, kiek galima.

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An Approximate Measure of Value

Cited by 301 publications

References 1 publication

Multi-criteria decision-making tools for material selection of natural fibre composites: A review

Multi-criteria decision-making tools for material selection of natural fibre composites: A review

Multiple Criteria Assessment of Alternatives for Built and Human Environment Renovation

Project Management by Multimoora as an Instrument for Transition Economies / Projektų Vadyba Su Multimoora Kaip Priemonė Pereinamojo Laikotarpio Ūkiams

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