What role does MCDA play in decision making

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• Quantitative Methods
•  
• Case Studies
• Multi Criteria Decision Making (20 Marks)
• MCDA. (multi criteria decision analysis)
  is considered to be one of the fastest growing
  research operations in the last several years.
  The researcher focus towards MCDA led to
  development of many different approaches and ways
  in the field. There are two types of procedures
  theoretical assumptions and decision addressed
  type. This difference throws challenges to the
  procedure of choosing the most ideal method for
  the decision making problem. Most of the time,
  the initial approach towards applying MCDA in the
  real world problems relates to the set up of
  simple understanding Of the context and
  recognizing the problem of decision.

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• This step includes the ones who make
  decisions and other important participants who
  make important contributions for the MCDA
  procedure by sharing their knowledge. The common
  insight of the decision framework is received by
  knowing the goals of the decision making body and
  recognizing not only those people who make
  decisions but also those who face the decision.
  Dooley (2009) says that the first three steps
  take up more time in the process of MCDA,
  particularly because of their qualitative
  features. Assigning of comparative significant
  weights to the selected criteria is the next
  step These weights can be ascertained directly,
  for example ranking, swing, trade off or
  indirectly, for example- centrality, regression
  and interactive. Later, the DM has to give
  individual scores, considering his or her views,
  to each of the recognized options according to
  the criteria which seem vital. These scores show
  the decision of DM. related to spreading of each
  substitute to every performance standard.

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• The information which is attained is
  maintained distinctively into performance
  template, which is also as consequence matrix,
  options matrix, or just decision table. The next
  process includes abstract of the information
  consisting of the performance matrix in the form
  of multi criteria scores, for every possible
  plan. Mostly, this is attained by combining the
  individual scores of matrix so that total
  valuation of .each substitute which allows more
  comparison. The groups of substitute ranked on
  the basis of all these scores. Finally, the
  procedure can include a warm evaluation of the
  outcome to amendments in the scores or criteria,
  to conclude the sturdiness of the result of MCDA.
  At the end, the analysis and tradeoffs included
  in the respective choices are given to and
  conferred with the DM.

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• Answer the following question.
•  
• Q1. What role does MCDA play in decision making?
  (Hint MCDA is considered to be one of the
  fastest growing research operations, these scores
  show the decision of DM related to spreading of
  each substitute to every performance standard)
•  
• Q2. What does MCDA stand for? (Hint multi
  criteria decision analysis)

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