Three Key Phases

A disciplined process to create sustainable value can be built in three phases 1. Diagnosis 

When diagnosing stakeholder value it is important to understand that perceptions can be as important as scientific facts. For example, polyvinyl chloride (PVC) producers defend PVC on the basis of scientific arguments such as energy efficiency, low biomass accumulation, and product safety in normal use. Customers such as Nike, Sony, and Shaw Industries that have committed to eliminating PVC in their products as a precaution for their customers due to perceived health and environmental risks, are unlikely to change their perspective based on additional scientific facts provided by the chemical industry. As in the PVC case, manufacturers are vulnerable to value loss as a result of their customers perceptions of risks. 

Brand Value Reputation License to Operate Attract and Retain Talent 

Primarily Cost Savings through Incremental Innovation 

Primarily Revenue Increases through Radical Innovation 

---

According to Mussen et al. (2007), there are three key phases in the MCDA process problem identification and structuring, model building and use, and development of action plan. These phases are specified through the seven-step approach (Mussen et al. 2007). Steps 1-5 of MCDA are similar to those in the BRA frameworks discussed in Section 15.4. Therefore, MCDA is sometimes called a quantitative benefit-risk framework (IMI-PROTECT 2013). However, the MCDA process further stipulates the calculation of the weighted scores at each level and calculation of the overall weighted BR scores to facilitate a benefit-risk decision at step 6. MCDA also emphasizes sensitivity analysis to assess the impact of weights and other assumptions in the data at step 7. 

---