Chapter 3 Case Based Distance Approach to Vendor Evaluation
3.1. Case-Based Decision Analysis Approaches
There has been much progress on case-based approaches to MCDA in recent years. As suggested in [14], the case set may include (1) cases on which the DM has made a decision in the past; (2) fictitious but realistic alternatives; or (3) a representative subset of the actual set of alternatives, A. A main advantage of case-based reasoning is that “decision makers may prefer to make exemplary decisions than to explain them in terms of specific functional model parameters”. To achieve these advantages, it is helpful if the cases are sufficiently familiar to the DM that they are easy to evaluate. As well, the case set should contain a broad range of cases, and should not be too small or too large.
3.1.1 Case-based approaches to ranking and sorting
Generally, case-based approaches to preference elicitation in MCDA include the three steps shown in Figure 3.1
1. Represent: Identify representative cases from the full set of alternatives, or else- where, and present them to the DM for preference assessment.
2. Infer: Find preference parameters that reproduce the DM’s judgments on the representative cases as accurately as possible.
3. Assess: If the preference parameters are sufficient, apply them to the full set of alternatives to obtain preferences.
Then, with the appropriate tools, the selected problématique can be addressed.
Fig. 3.1 Case-based Approach to MCDA
The case-based approaches that have been proposed can be roughly grouped into two classes, depending on whether they depend on models with explicit or implicit preferences. For an explicit preference model such as the UTA method [15] or the case-based distance approach [16]...
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...analyze multiple criteria ranking problems based on the proposed case-based distance models is shown in Figure 3.2. It includes the following steps:
• Identify the alternative set: All possible alternatives within appropriate boundaries should be considered.
• Construct the criteria set: Build a criteria set to reflect the DM’s concerns and objectives.
• Select the case set: Choose a small case set among the alternative set and ask experts to provide a ranking on this case set.
• Establish the case-based distance ranking model: Construct the ranking model, optimize it and obtain the criteria weights.
• Verify the feasibility of the model: Use the weight information to calculate the distance of case set and verify whether the ranking order is consistent with the experts’ evaluation result.
• Rank all alternatives: Apply the model to rank all alternatives.
These data affect the consumer decision-making process through alternative evaluation, the consumer compares the different choices to best meet their individuals need. The consumer decides the criteria for judging the alternative products or services by evaluative criteria. Consumers use tangible and intangible criteria, and when evaluating alternatives, determine qualities that are important and evaluate the alternatives.
This step depends on defining the right problem at the beginning of the process too create usable alternative to the objectives that will be used to make a decision. Identifying as many alternatives as possible will offer a wide range of possible solutions that can be used to make a decision. The alternatives selected should be the ones that will enable the decision made to achieve the objectives of the decision problem. Joan’s next step in the PrOACT decision making model is to understand the consequences and repercussion of every alternative identified. When she reaches this point of the PrOACT decision making model Joan can map the alternatives she selected for the objectives statement for her decision problem. At this point Joan can use decision matrix to identify the best alternative that can be used to accomplish the objectives of the problems she identified. The final step in Joan’s PrOACT decision making model is wrestling with trade-offs equalizing some alternative in order to apply the same weight when used in the decision making process. This is not a complex process but identifying similar items or process that can be weighted equally should be used when making trade-offs. This step involves identifying what will be given up by choosing one alternative comparatively to what will be given up by choosing another alternative for the decision that is being made.
Spokane Industries has contracted Franklin Electronics for an 18 month product development contract. Franklin Electronics is new to using project management methodologies and has not been exposed to earned value management methodologies. Even though Franklin and Spokane have worked together in the past, they have mainly used fixed-price contracts with little to no stipulations. For this project, Spokane Industries is requiring Franklin Electronics to use formalized project management methodologies, earned value cost schedules, and schedules for reports and meetings. Since Franklin Electronics had no experience with earned value management, the cost accounting group was trained in the methodology in order to bid for the project.
Case Management Case management has become the standard method of managing health care delivery systems today. In recent decades, case management has become widespread throughout healthcare areas, professionals, and models in the United States. It has been extended to a wide range of clients (Park & Huber, 2009). The primary goal of case management is to deliver quality care to patients in the most cost effective approach by managing human and material resources. The focus of this paper is on the concept of case management and how it developed historically, the definition of case management, the components of case management, and how it relates to other nursing care delivery models.
In situations whereby the number of options multiplies, it positively correlates to the expectation of the object being decided upon (Schwartz, 2004). Often, the problem arises when an individual is given too many options to choose from; therefore, expectations increase as comparison sets in as the individual compares what he/she has, to what is expected of it. This added effort to compare, which is required for good decision-making, could be one of the reasons why decision-making is not managed effectively (Schwartz, 2004). For instance, when purchasing an electronic gadget, individuals will expect that the chosen choice would be the best out of all choices; further, the individual may develop the mindset of the gadget having to consist of high specifications, the latest technology and a stylish appear...
Select 1 criteria from the Visual Aid Category: describe, evaluate, and formulate a specific goal to improve for one of the following criteria: design of the visual aid, integration of the visual aid, delivery of the visual aid.
In addition to the checklist, a series of standards and criteria are used to conclude the rating given on the evaluation. For instance, for rating attendance, the laboratory may use the standards listed in the table.
There are 3 types of consumer buying decision which include: Routine, Limited, and Extensive. There are 5 criterions that determine consumer’s type of buying decision: Involvement, Time, Cost, Information search and Number of Alternatives.
N decision makers will generate at least N judgement matrices. A judgement matrix is the matrix that contains the pairwise comparisons of criteria and alternatives. In this type of aggregation, the pairwise comparison matrices are aggregated using Geometric Mean.
For our system to become more ideal we should develop a rating system that minimizes subjective aspects and does not rely so heavily of human judgement. We should also develop an appeals process that is formal in which employee that feel an error has been made may be able to challenge unjust decisions and correct errors. (Aguinis, 2009)
The following is a decision-making model that I have used to arrive at a decision.
The preference of a consumer for a product is based from the two rational assumptions: (1) that all products can be ranked in an order of preference (indifference between two or more is possible); and (2) that the preference is transitive among the products with which the consumer has the same marginal utility.
Decision making revolves around evaluating, narrowing, and selecting alternative solutions. The three decision making environments are certainty, uncertainty, and risk. Another category of decision making is programmed and non-programed. There are also two approaches to decision making; intuitive approach and rational approach. Under the category of rational approach there are three strategies to go about it. These strategies include; optimizing, satisficing, and bounded rationality.
Many studies have done in the positioning, which were based on the approach of finding several attributes with the ...
We also provide you a list of pointers to take note during your selection process.