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Multiple attribute decision making (MADM) based scenarios

    Sarfaraz Hashemkhani Zolfani Affiliation
    ; Reza Maknoon Affiliation
    ; Edmundas Kazimieras Zavadskas Affiliation

Abstract

Decision making takes into account a myriad of factors about the future topics, which often prove challenging and quite complicated. Multiple Attribute Decision-Making (MADM) methods still have not become powerful enough to help decision makers to adopt the best solutions regarding future issues. Different scenarios are suitable for developing an appropriate outlook toward different probable futures. Scenarios are not inherently quantitative, but recently different integrated quantitative methods have been incorporated with the processes in various studies. Previously, different types of scenario-based MADM methods have been presented in different studies, but they just considered each case separately. In those studies, MADM methods were only applied to evaluate the situation in scenario-based MADM. This research concentrates on another paradigm in applying scenarios to upcoming events, MADM methods in the new area are explored, and the concept, which is called MADM based scenarios, is presented. In different situations and scenarios, different MADM models will happen. New concepts about most useful criterion and applicable alternatives are introduced in this new approach for decision-making about the future. In addition, a general framework is proposed for applying MADM-based scenarios for unpredictable scenarios and situations, which can be almost controlled future in practice.

Keyword : Multiple Attribute Decision Making (MADM), Scenario planning, MADM based scenarios, future, The most useful criterion, The most applicable alternative

How to Cite
Hashemkhani Zolfani, S., Maknoon, R., & Zavadskas, E. K. (2016). Multiple attribute decision making (MADM) based scenarios. International Journal of Strategic Property Management, 20(1), 101-111. https://doi.org/10.3846/1648715X.2015.1132487
Published in Issue
Apr 14, 2016
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