Live support chatRanking Models for Decisions without Attribute Trade-offs
In Ranking Models for Decisions without Attribute Trade-offs, you'll learn ...
- Understanding of non-compensatory methods
- How to use and apply the Dominance method
- How to use and apply the Disjunctive constraint method
Overview
Preview a portion of this course before purchasing it.
Credit: 2 PDH
Length: 24 pages
In corporate or government decision making, there typically are several attributes or characteristics associated with the alternatives that are presented for a decision. In many circumstances, these alternatives need to be screened or ranked. There are a number of different approaches and methods that can be used to capture the decision environment and provide structure to the decision-making process.
This course addresses decision making circumstances where the decision maker is not permitted to make trade-offs between the attributes in the decision problem. An unfavorable value in one attribute cannot be offset by a favorable value in another attribute. Each attribute associated with an alternative must stand on its own. Comparisons between alternatives are made on an attribute-by-attribute basis.
There are a number of methods that fall into this category of decision models. Structuring the problem and key characteristics of the decision is important as is the selection of the approach to perform the ranking or screening. In investigating this field of study, one can see a large number of methods to choose from in this process. Researchers also develop new methods and extensions off of these methods. The methods discussed in this course are robust, “salt of the earth” types of methods that provide reliable and reasonable results. You may have used some of these methods or variations of them previously, however, not known the science behind the methods. In this course, a number of methods that do not allow for the compensation of attributes will be presented. These methods include the dominance method, maximin, maximax, conjunctive constraint method, disjunctive constraint method and the lexicographic method. These methods are relatively simple and easy to apply in real-world decision making.
Specific Knowledge or Skill Obtained
This course teaches the following specific knowledge and skills:
- Understand the construction of the decision matrix
- Learning how to use and apply the Maximin method
- Learning how to use and apply the Maximax method
- Learning how to use and apply the Conjunctive constraint method
- Learning how to use and apply the Lexicographic method
Certificate of Completion
You will be able to immediately print a certificate of completion after passing a multiple-choice quiz consisting of 10 questions. PDH credits are not awarded until the course is completed and quiz is passed.
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Preview a portion of this course before purchasing it.
Credit: 2 PDH
Length: 24 pages
