Strategic Approach in Multi Criteria Decision Making A Practical Guide for Complex Scenarios 1st ediiton by Nolberto Munier, Eloy Hontoria, Fernando Jiménez Sáez ISBN B07N82RJM3 978-3030027254

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ISBN 10: B07N82RJM3
ISBN 13: 978-3030027254
Author: Nolberto Munier, Eloy Hontoria, Fernando Jiménez Sáez 

This book examines multiple criteria decision making (MCDM) and presents the Sequential Interactive Modelling for Urban Systems (SIMUS) as a method to be used for strategic decision making. It emphasizes the necessity to take into account aspects related to real world scenarios and incorporating possible real life aspects for modelling. The book also highlights the use of sensitivity analysis and presents a method for using criteria marginal values instead of weights, which permits the drawing of curves that depicts the variations of the objective function due to variations of these marginal values. In this way it also gives quantitative values of the objective function allowing stakeholders to perform a comprehensive risk analysis for a solution when it is affected by exogenous variables. 
Strategic Approach in Multi-Criteria Decision Making: A Practical Guide for Complex Scenarios is divided into three parts. Part 1 is devoted to exploring the history and development of the discipline and the way it is currently used. It highlights drawbacks and problems that scholars have identified in different MCDM methods and techniques. Part 2 addresses best practices to assure quality MCDM process. Part 3 introduces the concept of Linear Programming and the proposed SIMUS method as techniques to deal with MCDM. It also includes case studies in order to help document and illustrate difficult concepts, especially related to demands from a scenario and also in their modelling. The decision making process can be a complex task, especially with multi-criteria problems. With large amounts of information, it can be an extremely difficult to make a rational decision, due to the number of intervening variables, their interrelationships, potential solutions that might exist, diverse objectives envisioned for a project, etc. The SIMUS method has been designed to offer a strategy to help organize, classify, and evaluate thisinformation effectively.

Strategic Approach in Multi-Criteria Decision Making A Practical Guide for Complex Scenarios 1st Table of contents:

1. Introduction to Multi-Criteria Decision Making

   • Overview of Decision Making in Complex Scenarios
   • What is Multi-Criteria Decision Making (MCDM)?
   • Importance and Applications of MCDM in Strategic Planning
   • Key Challenges in Multi-Criteria Decision Making

2. Fundamentals of Multi-Criteria Decision Making

   • Basic Principles and Concepts of MCDM
   • Types of Decision-Making Problems
   • Structure and Components of MCDM Models
   • Methods for Formulating Multi-Criteria Decision Problems

3. Theoretical Foundations of MCDM

   • Decision Theory and Its Relevance to MCDM
   • Utility Theory and Preference Modeling
   • Trade-offs and Optimization in MCDM
   • Aggregating Multiple Criteria: Approaches and Challenges

4. Techniques and Methods in MCDM

   • Analytical Hierarchy Process (AHP)
   • Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS)
   • Elimination and Choice Expressing Reality (ELECTRE)
   • Preference Ranking Organization Method for Enrichment Evaluation (PROMETHEE)
   • Decision Tree Analysis and Fuzzy Logic in MCDM

5. Strategic Considerations in MCDM

   • Incorporating Strategic Goals into Decision Models
   • Aligning Decision Making with Long-Term Organizational Strategy
   • Role of Stakeholders in Strategic MCDM
   • Strategic Implications of MCDM Results

6. Modeling and Solving Complex Decision Problems

   • Case Study 1: Urban Planning and Development
   • Case Study 2: Supply Chain and Logistics Management
   • Case Study 3: Environmental Sustainability Decisions
   • Case Study 4: Risk Assessment in Financial Management
   • Using MCDM to Model Uncertainty and Risk

7. Practical Application of MCDM in Complex Scenarios

   • Setting up Real-World MCDM Problems
   • Gathering Data and Defining Criteria
   • Identifying Decision Alternatives
   • Implementing MCDM Techniques in Practice

8. Advanced MCDM Methods and Trends

   • Hybrid MCDM Models
   • Machine Learning and Artificial Intelligence in MCDM
   • Dealing with Large-Scale Decision Problems
   • Integrating MCDM with Big Data and Cloud Computing

9. Decision Support Systems (DSS) for MCDM

   • Designing a Decision Support System for MCDM
   • Software Tools for Multi-Criteria Decision Analysis
   • Building Custom DSS for Strategic Decision Making
   • Case Study: DSS for Complex Corporate Decisions

10. Ethical Considerations and Bias in MCDM

    • Identifying and Mitigating Bias in Decision-Making
    • Ethical Implications of MCDM in Strategic Decisions
    • Transparency, Fairness, and Accountability in MCDM Processes

11. Conclusion and Future Directions in MCDM

    • Summarizing the Key Takeaways
    • The Future of MCDM in Strategic Decision Making
    • Advancements in Methodologies and Tools
    • Preparing for the Evolution of MCDM in Complex Scenarios

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