MANAGERIAL DECISION MAKING
Define a multiple attribute decision making problem with at least seven attributes and five alternatives. (100 to 200 words)
Explain the attributes you use in your decision model briefly. State whether they are cost, benefit or non-monotonic attributes. Make necessary explanations about the scales and the units of the attributes. Briefly discuss why you have chosen these attributes. (200 to 400 words)
Using Analytic Hierarchy Process (AHP),
Aggregate the judgments of the experts (while making the pairwise comparisons, each group (4 to 5 people) member will act as an expert and give his/her own ratings),
Determine the weights of the attributes,
Rank the alternatives from the the best to the worst.
Check whether the pairwise comparison matrices you have obtained are consistent or not.
Discuss your findings and results. (100 words)
Using TOPSIS and ELECTRE methodologies (and the weights you have obtained in Step 3), rank the alternatives from the the best to the worst. For ELECTRE application, please use vector normalization and make your own assumptions about the Concordence and the Discordance thresholds.
Compare your results with those of Step 3.