Pareto Optimal Decisions in Multi-Criteria Decision Making Explained with Construction Cost Cases

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dc.citation.spage46
dc.citation.volume13
dc.contributor.authorAnysz, Hubert
dc.contributor.authorNicał, Aleksander
dc.contributor.authorStević, Željko
dc.contributor.authorGrzegorzewski, Michal
dc.contributor.authorSikora, Karol
dc.date.accessioned2023-05-30T07:19:47Z
dc.date.available2023-05-30T07:19:47Z
dc.date.issued2021
dc.description.abstractIn multi-criteria decision-making (MCDM) problems the decision-maker is often forced to accept a not ideal solution. If the ideal choice exists, it would be certainly chosen. The acceptance of a non- ideal solution leads to some inadequate properties in the chosen solution. MCDM methods help the decision-maker to structure his needs considering different units, in which the properties of the solutions are expressed. Secondly, with MCDM tools the assessment of the available solutions can be calculated with consideration of the decision-maker’s needs. The incorporation of the cost criterion into the decision maker’s preferences calculation, and the solution assessment calculation, deprives the decision-maker of the ability to calculate the financial result of the decision he must make. A new multi-criteria decision making with cost criterion analysed at the final stage (MCDM-CCAF) method is developed based on principle of Pareto optimal decisions. It is proposed to exclude the cost criterion from the MCDM analysis and consider it at the final phase of the decision-making process. It is illustrated by example solutions with consideration of cost criterion and without it. It is proposed to apply the invented post-processing method to all MCDM analyses where the cost criterion of analysed variants is considered.
dc.identifier.doi10.3390/sym13010046
dc.identifier.urihttps://vaseljena.ues.rs.ba/handle/123456789/230
dc.language.isoen
dc.publisherMDPI
dc.sourceSummetry
dc.subjectmulti-criteria decision making; MCDM; AHP; TOPSIS; FUCOM; MARCOS; cost criterion; construction cost; life cycle cost; LCC; MCDM-CCAF
dc.titlePareto Optimal Decisions in Multi-Criteria Decision Making Explained with Construction Cost Cases
dc.typeArticle
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Саобраћајни факултет [Научни радови] / Faculty of Transport and Traffic Engineering [Scientific papers]