Decision Analysis

Decision Analysis for Engineering and Technology Management is the first book to address the challenges of decision makers with applications to both engineering and technology management. The book provides practical illustrations of the application of decision analysis, rather than repeating existing theoretical material. Discussion on real-world objections and difficulties as well as evidence of the benefits of applying decision making principles in actual investment decision situations are provided. The book reviews decisions from two major areas: decisions with single criterion and those with multiple criteria. Within the single criterion coverage, decisions are then divided further into three sub-areas: decisions under certainty; under uncertainty, and under risk. Hierarchical models are also introduced to address multi criteria decisions. In addition, quantification of expert judgments is covered in this section. Finally, an organizational framework is provided as well as examples for decision making processes for product and technology development cases. Chapter coverage includes: single criterion decisions; multi criteria decisions; multi criteria decision making; MOGSA decision hierarchy; judgment quantification; priority weighting by pair wise comparisons; hierarchical decision models and applications; decision modeling; decision trees; decisions under risk; utility theory and applications; location selection; design selection; and strategy determination.