Multi-Criteria Decision Making (MCDM)

Multiple Criteria Decision-Making (MCDM) has grown as a part of operations research, concerned with designing computational and mathematical tools for supporting the subjective evaluation of performance criteria by decision-makers.

This is the first time that a comprehensive course has been launched focusing on a wide range of multi-criteria decision-making (MCDM) approaches. Therefore, we have launched a practical course in the domain of MCDM required for students, researchers, and practitioners.

All in all, for any given MCDM approach, Firstly, we introduce the basic theory of that corresponding method, then it is implemented in Microsoft Excel, and finally, we will code the considered example using Matlab language programming.

In Summary, we will discuss the following points and MCDM approaches in detail:

• Background of MCDMs
• Simple Additive Weightage (SAW)
• Analytic Hierarchy Process (AHP)
• Analytic Network Process (ANP)
• Technique for Order Preference and Similarity to Ideal Solution (TOPSIS)
• Elimination Et Choice Translating Reality (ELECTRE)
• Preference Ranking Organization Method for Enrichment Evaluations (PROMETHEE)
• VIseKriterijumska Optimizacija I Kompromisno Resenje (VIKOR)
• Decision-Making Trial and Evaluation Laboratory (DEMATEL)
• Grey Relational Analysis (GRA)
•  Multi-objective Optimization on the Basis of Ratio Analysis Method (MOORA)
• Complex Proportion Assessment Method (COPRAS)
• Additive Ratio Assessment Method (ARM-ARAS)
• Weighted Aggregated Sum Product Assessment (WASPAS)
• Stepwise Weight Assessment Ratio Analysis (SWARA)
• Combinative Distance-based ASsessment (CODAS)
• Evaluation Based on Distance from Average Solution (EDAS)
• Measurement Alternatives and Ranking according to COmpromise Solution (MARCOS)
• Criteria Importance Through IntercriteriaCorrelation (CRITIC)
• Entropy Weighting Technique
• Combined Compromise Solution (CoCoSo)
• Fuzzy AHP
• Fuzzy ANP

This course also includes a large number of coding videos to give you enough opportunity to practice the theory covered in the lecture.

By passing this course, you will become aware of how to use Excel and Matlab on a wide range of MCDM problems, and as a result, you will learn how to handle other MCDM approaches.

Please note that this course will be updated with new MCDM approaches.