A new approach in MCDM: supporting DM decision and stakeholders strategy choice using quantitative information from sensitivity analysis

  1. Nolberto Munier 1
  2. Eloy Hontoria 2
  3. Fernando Jimenez 1
  1. 1 Universidad Politécnica de Valencia
    info

    Universidad Politécnica de Valencia

    Valencia, España

    ROR https://ror.org/01460j859

  2. 2 Universidad Politécnica de Cartagena
    info

    Universidad Politécnica de Cartagena

    Cartagena, España

    ROR https://ror.org/02k5kx966

Proceedings:
24th International Conference on Multiple Criteria Decision Making (MCDM 2017)

Year of publication: 2017

Type: Conference paper

Abstract

This presentation deals with sensitivity analysis and the examination of results obtained using Multi Criteria Decision-Making Models. Nowadays, most of the Decisions-Makers do not have a clear methodology to ascertain the most important criteria to be varied; they just act over the criterion with the maximum weight, which variation does not produce any relevant information, other than indicating when the ranking changes. These authors deem that the actual procedure used in most, if not all models, does not fulfill the needs of the decision-maker and/or stakeholders of a company, promoter or owner. The reason is that variations of certain inputs of the problem in order to examine the behaviour of the solution found, does not contribute in providing a clear panorama of the situation, especially when variations are due to external factors for which there is no control. This paper proposes an innovative methodology for analysing the behaviour of the solution found, that is, the response of the output to variations of key inputs. The usefulness of this new approach for sensitivity analysis can be appreciated by considering that it takes into account how the main objectives of the company are satisfied, by given quantitative and graphical information of their evolution, that is increases or decreases as a function of potential variations that may occur in real life. It allows stakeholders to make quantitative comparisons between potential effects and the values that the company has established a priori. Because the full quantitative and graphic information it supports the DM decisions, and allows him to answer questions form the stakeholders relative to his decision. Regarding stakeholders the quantitative information given on benefits, costs, environmental issues etc, gives them the possibility of adopt the most convenient strategy, which may even reverse the selection of the best alternative delivered by the MCDM model, in this case SIMUS.