Multicriteria approaches

In research, many quantitative and graphical methods are used in selecting between individual compounds, either as potential library of collection members or in filtering hits. Multicriteria approaches to library design typically seek to balance diversity and likelihood of favorable properties [16]. In early screening, the rules for choices between hits are part of a research process typically applied to diverse projects, whereas at the end of the discovery process compound choice commits to starting a single development project. 

The single parameter assessment for each indicator is demonstrated as the traditional approach in the evaluation of the option under consideration that reflects a biased result depending on the selected indicator. In order to apply the multicriteria approach to the hydrogen systems, it is necessary to use the multi-criteria procedure based on the sustainability index rating composed of linear aggregative functions of all indicators with respective weighting functions. 

Nowadays, the need to incorporate into planning considerations related to financial, environmental and social matters is associated with studies about sources of energy which makes experts use the multicriteria approach more frequently. (Naim et al., 2008). 

The economic evaluation studies are based on normative criteria, independent of subjective opinions, which indicate preferences in any course of action. Every alternative is independent of the other ones and the measure of the economic preferences is made separately. Renkema and Berghout [10] distinguish four basic approaches to evaluate investment alternatives the financial approach, the multicriteria approach, the ratio approach, and the portfolio approach. Methods from the financial approach are usually recommended for the evaluation and selection of investment alternatives. Often used financial approach methods are the payback period (PP) method, the internal rate of return (IRR) method, and the NPV method. The latter is used to evaluate this project. 

Chaudhry, S. S., F G. Forst, and J. L. Zydiak. 1991. Multicriteria approach to allocating order quantities among suppliers. Production and Inventory Management Journal. 3rd Quarter 82-85. 

S.K. Mukherjee and M.N. Pal, "Optimization of R-C Based Electrodischarge Machining Process A Multicriteria Approach," Proceedings of 12th AIMTDR Conference, IIT Delhi (1986) 508-511. 

There are two main approaches to informing decisions that take account of economic factors. One is cost benefit assessment (CBA) and the other is multicriteria decision analysis (MCDA). It is not the purpose of this document to provide detailed guidance about these techniques, but we offer some comments in the context of standard setting (Text Box C). For a more detailed appreciation of CBA, refer to... 

The multicriteria decision making (MCDM) approach is based on methods to rank the studied objects (events, molecules, cases, etc.) on the basis of multiple criteria [Hendriks et al, 1992 Carlson, 1992], In particular, desirability functions and utility functions are multicriteria decision functions able to assign a score to each object on a user-defined tuning. 

Nakayama, H. (1995). Aspiration level approach to interactive multi-objective programming and its applications, in P. Pardalos, Y. Siskos and C. Zo-pounidis (eds.), Advances in Multicriteria Analysis (Kluwer Academic Publishers), pp. 147-174. 

It is somehow paradox, that the good transparency supported by modular scenarios gives the impression that expectations will offer sufficient evaluation results, superfluous the need to model data. Anyway, discrepancies between expected and modelled evaluation results need to be removed, as stakeholders will hardly accept an evaluation result, which extensively disagrees with their expectations. HDT-originated analysis tools such as the antagonistic indicators and the similarity profile proved to be helpful in such conflicts. Thus beyond the application of HDT in the field of multicriteria decision aid (MCDA) the approach might be a helpful tool to mediate the whole decision process. 

Wang et al. (1986) postulate that if the relative contribution of the different cognitive skills towards the performance of a human-machine system can be either known or inferred, then the corresponding subjective assessment of these skills can help in the designing cognitive aids for the human. They developed a fuzzy set approach to formulate a multicriteria decision-making problem to determine whether individuals can prioritize cognitive skills considered important for inspection performance. 

The MCDA approach mainly relies on the estimate of the overall BR score in BR assessment, which does not accoimt for the uncertainties associated with sampling variation in the data for the benefit and risk endpoints. In addition, MCDA requires an explicit supply of weights for each criterion. Such weights are not easy to derive and are likely to differ among different decision makers. Stochastic multicriteria acceptability analysis (SMAA) was extended for BRA to deal with these limitations in MCDA (Tervonen et al. 2011). 

Besides goal programming, there are other approaches to solve the multicriteria optimization model for the supplier selection problem formulated in Section 6.4.2. They include weighted objective method, compromise programming, and interactive approaches. Interested readers can refer to Wadhwa and Ravindran (2007), Masudand Ravindran (2008, 2009) for more details. Masudand Ravindran (2008, 2009) also provide information on the computer software available for the MCDM methods. 

A Multicriteria Process Synthesis Approach to the Design of Sustainable and Economic Utility Systems... 

The proper design criteria for a modem utility plant should include both environmental and economic requirements. In other words, not only the capital and operating costs of a utility plant but also the corresponding utility wastes must be minimised. The paper presents a systematic multicriteria process synthesis approach for designing sustainable and economic utility systems. The proposed approach enables the design engineer to systematically derive optimal utility systems which are economically sustainable and economic by embedding Life Cycle Assessment (LCA) principles within a multiple objective optimisation framework. It combines the merits of total site analysis, LCA, and multi-objective optimisation techniques... 

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