...Decisions Based on Analysis of Alternatives (AoA) Dr. David G. Ullman 1 , January 2009 Analysis of Alternatives (AoA) is a term that has been adopted by the Office of Management and Budget (OMB) and the Department of Defense (DoD) to ensure that multiple alternatives have been analyzed prior to making costly investment decisions. AoA is an effort to move from the justification for a single alternative to the exploration of multiple alternatives so agencies have a basis for funding the best possible projects in a rational, defensible manner considering risk and uncertainty. As with other decisionmaking tools, techniques, and methodologies, AoA is most effectively used in a higherlevel decision-making context, such as an Enterprise Architecture (EA) framework. In fact, it is doubtful that the higher levels of AoA maturity (see below) could even be considered outside of a higher-level context. What Is AoA? And Why Do It? Analysis of Alternatives is the analytical comparison of multiple alternatives to be completed before committing resources to one project. The practice of comparing multiple alternative solutions has long been a part of engineering practice (Ullman, 2009, especially Chapter 7, Concept Generation). There is, however, a natural human tendency to propose a single alternative for funding or development and justify this option rather than compare multiple options with the goal of choosing the best one. Justification is easier to do than evaluating multiple options and...
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...Research D Ghosh Article A Loose Coupling Technique for Integrating GIS and Multi-Criteria Decision Making A Loose Coupling Technique for Integrating GIS and Multi-Criteria Decision Making Debasis Ghosh National Informatics Centre Ministry of Communications and Information Technology Calcutta, India Keywords Abstract Spatial decision making is characterized by problems associated with multiple and conflicting alternatives relating to geographical features and their attributes. As such, the search for the best possible alternative from a large set of such alternatives can be a daunting task. The aim of integrating GIS with Multi-Criteria Decision Making (MCDM) is to develop a well-defined process that can scan through such extensive fields of choice to arrive at the best possible solution. Goal Programming is one tool (developed in conjunction with MCDM) that can handle a problem with multiple, conflicting and incommensurable alternatives, and this article explains how the loose coupling technique can integrate MCDM with GIS to assist decision making among competing alternatives. As an example, this methodology has been applied for community development purposes in the Hooghly District of West Bengal, India. 1 Background The inclusion of Multi-Criteria Decision Making (MCDM) in spatial environments provides us with the basis for spatial decision support systems. Spatial multi-criteria decision problems typically involve a set of geographically-defined alternatives from...
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...World Academy of Science, Engineering and Technology International Journal of Social, Behavioral, Educational, Economic and Management Engineering Vol:7, No:10, 2013 Supplier Selection Criteria and Methods in Supply Chains: A Review Om Pal, Amit Kumar Gupta, R. K. Garg International Science Index Vol:7, No:10, 2013 waset.org/Publication/16944 Abstract—An effective supplier selection process is very important to the success of any manufacturing organization. The main objective of supplier selection process is to reduce purchase risk, maximize overall value to the purchaser, and develop closeness and long-term relationships between buyers and suppliers in today’s competitive industrial scenario. The literature on supplier selection criteria and methods is full of various analytical and heuristic approaches. Some researchers have developed hybrid models by combining more than one type of selection methods. It is felt that supplier selection criteria and method is still a critical issue for the manufacturing industries therefore in the present paper the literature has been thoroughly reviewed and critically analyzed to address the issue. Keywords—Supplier selection, Mathematical Programming. AHP, ANP, TOPSIS, I. INTRODUCTION I N most industries, the cost of raw materials and component parts represents the largest percentage of the total product cost. For instance, in high technology firms, purchased materials and services account for up to 80% of the total product cost....
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...Introduction to Decision Making Methods János Fülöp Laboratory of Operations Research and Decision Systems, Computer and Automation Institute, Hungarian Academy of Sciences 1. Decision Making Process “Decision making is the study of identifying and choosing alternatives based on the values and preferences of the decision maker. Making a decision implies that there are alternative choices to be considered, and in such a case we want not only to identify as many of these alternatives as possible but to choose the one that best fits with our goals, objectives, desires, values, and so on.” (Harris (1980)) According to Baker et al. (2001), decision making should start with the identification of the decision maker(s) and stakeholder(s) in the decision, reducing the possible disagreement about problem definition, requirements, goals and criteria. Then, a general decision making process can be divided into the following steps: Step 1. Define the problem “This process must, as a minimum, identify root causes, limiting assumptions, system and organizational boundaries and interfaces, and any stakeholder issues. The goal is to express the issue in a clear, one-sentence problem statement that describes both the initial conditions and the desired conditions.” Of course, the one-sentence limit is often exceeded in the practice in case of complex decision problems. The problem statement must however be a concise and unambiguous written material agreed by all decision makers and stakeholders...
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...Ranking the Best Universities Assignment Content Decision Making Skills 1. Introduction .................................................................................................................. 3 2. Methodology ................................................................................................................ 4 2.1. Classification .................................................................................................................... 4 2.2. Multi Attribute Decision Making (MADM)....................................................................... 5 3. Analysis ........................................................................................................................ 5 3.1. Alternatives ...................................................................................................................... 6 3.2 Criteria............................................................................................................................... 6 3.3. Decision Matrix ................................................................................................................ 7 3.4. Simple Additive Weighted Method (SAW) ...................................................................... 8 3.5. Weighted Product Method (WPM) .................................................................................. 9 3.6 Technique for Order Preference by Similarity to Ideal Solution (TOSIS) ........................ 10 3.7. Analytical...
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...of quantitative techniques in business decision-making. The course covers linear programming models and its special algorithms; network (PERT/CPM) models; decision-making theories and processes; and decision tree construction and analysis. LEARNING OUTCOMES (LO): On completion of the course, the student is expected to be able to do the following: |ELGA |LEARNING OUTCOME | |Effective communicators |To present in class the application of quantitative techniques to management decision | | |models through case analysis | |Critical and creative thinkers |To develop analytical thinking and proper reasoning in the application of quantitative | | |techniques to management decision models | | |To acquire the essential skills for the proper use of quantitative techniques in | | |business decision-making | |Technically proficient and competent |To identify the various mathematical tools used in business decision-making | |professionals and leaders...
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...the stakeholders for selecting certain projects using weights obtained by AHP as inputs to (ZOGP) model. This is first done by identifying the projects from each individual stakeholder's viewpoint. Further, an aggregate model that simultaneously combines the viewpoints of the three stakeholders is built assuming that the three stakeholders have equal weights. Results show that the aggregate model does strike a balance not only among the conflicting criteria, but more importantly, it strikes a balance among the different stakeholders. Therefore, the aggregate model would make it easier for stakeholders to reach a consensus. Keywords: Multi Criteria Optimization; Project Prioritization; Integrated AHP-ZOGP; Multi-stakeholder. 1. Introduction Traditional methods used in project selection usually justify the projects using low level capital budgeting which works well for investments with clearly defined benefits as monetary values, but do not work well for longer term strategic investments [1]. This is because intangible criteria, such as environmental, social cannot be converted into exact monetary values [2]. Thus traditional methods ignore intangible benefits and long-term perspectives. Alidi [3] used analytic hierarchy process to evaluate the initial viability of industrial...
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...Concept Analysis Acute pain following a surgical procedure is one of the most common stimuli experiences by pediatric patients. Pediatric postoperative pain management has long been overlooked and treated differently than adult pain management. There tend to many misconceptions when it comes to pediatric pain management stemming from the belief that children do not experience pain the same way as adults. Since the pediatric population is not legally allowed to make medical decisions, guardians must make these decisions for them. Postoperative pain in the pediatric patient may be hard to assess and therefore healthcare professionals have begun to involve family members and caregivers in the pain management process. Pain can stem from many sources and thus must be holistic, involve multiple disciplines, provide education and apply to each individual patient. In practice, advocacy for these young children is important in helping them and their families understand about the situation and make education decisions on how to proceed with care. The concept of postoperative pediatric pain management must be analyzed to help resolve these misconceptions and not ignore the population who at times cannot speak for themselves. Review of Literature After a surgical procedure, the pediatric patient will come into contact with many healthcare professionals including nurses, doctors, and psychologists. Each of these disciplines plays a key role in aiding the pediatric patient in the management...
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...Grid Analysis Making a Decision By Weighing Up Different Factors Also known as Decision Matrix Analysis, Pugh Matrix Analysis, and Multi-Attribute Utility Theory (MAUT) Imagine that your boss has put you in charge of taking on a new outsourced IT supplier. You've already identified several different suppliers, and you now need to decide which one to use. You could decide to go with the lowcost option. But you don't want to make your decision on cost alone - factors such as contract length, underlying technology, and service levels need to be taken into consideration. So how can you make sure you make the best decision, while taking all of these different factors into account? Grid Analysis is a useful technique to use for making a decision. It's particularly powerful where you have a number of good alternatives to choose from, and many different factors to take into account. This makes it a great technique to use in almost any important decision where there isn't a clear and obvious preferred option. Being able to use Grid Analysis means that you can take decisions confidently and rationally, at a time when other people might be struggling to make a decision. How to Use the Tool Grid Analysis works by getting you to list your options as rows on a table, and the factors you need consider as columns. You then score each option/factor combination, weight this score by the relative importance of the factor, and add these scores up to give an overall score for each option. While...
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...INTEGRATED SUPPLY CHAIN MANAGEMENT IN THE GOVERNMENT ENVIRONMENT ABSTRACT With the fall of East European Socialist-Bloc and opening up of the Asian markets, the trade barriers began falling during the 1980’s and continued throughout the 1990’s. This development lead to organizations having a supply chain, that criss-crossed the whole globe. The proliferation of trade agreements has thus changed the global business scenarios. The Integrated Supply Chain Management (ISCM) is now not only a problem of integrated logistics (as a process) but also demands that the supply chain management (SCM) must look into the ramifications of these arrangements on the cost of transportation (including tariffs or duties) of products within a trade zone and outside it, besides, developing logistics strategies. The field has thus developed in the last few years for bridging the gap between demand and supply vis-à-vis efficiency and cost trade-offs. The SCM now not only involves the “management of logistic function”, as was done in the past (to achieve internal efficiency of operations) but, includes the management and co-ordination of activities, upstream and downstream linkage(s) in the supply chain. The integrated supply chain management, in particular include : Planning and Managing supply and demand; Warehouse Management; Optimal Inventory control; Transportation and Distribution, Delivery and customer’s delight following the basic principles of supply chain management viz. working together;...
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...INTEGRATED SUPPLY CHAIN MANAGEMENT IN THE GOVERNMENT ENVIRONMENT R.K. Gupta* and Pravin Chandra** ABSTRACT With the fall of East European Socialist-Bloc and opening up of the Asian markets, the trade barriers began falling during the 1980’s and continued throughout the 1990’s. This development lead to organizations having a supply chain, that criss-crossed the whole globe. The proliferation of trade agreements has thus changed the global business scenarios. The Integrated Supply Chain Management (ISCM) is now not only a problem of integrated logistics (as a process) but also demands that the supply chain management (SCM) must look into the ramifications of these arrangements on the cost of transportation (including tariffs or duties) of products within a trade zone and outside it, besides, developing logistics strategies. The field has thus developed in the last few years for bridging the gap between demand and supply vis-à-vis efficiency and cost trade-offs. The SCM now not only involves the “management of logistic function”, as was done in the past (to achieve internal efficiency of operations) but, includes the management and co-ordination of activities, upstream and downstream linkage(s) in the supply chain. The integrated supply chain management, in particular include : Planning and Managing supply and demand; Warehouse Management; Optimal Inventory control; Transportation and Distribution, Delivery and customer’s delight following the basic principles of supply chain...
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...INTEGRATED SUPPLY CHAIN MANAGEMENT IN THE GOVERNMENT ENVIRONMENT R.K. Gupta* and Pravin Chandra** ABSTRACT With the fall of East European Socialist-Bloc and opening up of the Asian markets, the trade barriers began falling during the 1980’s and continued throughout the 1990’s. This development lead to organizations having a supply chain, that criss-crossed the whole globe. The proliferation of trade agreements has thus changed the global business scenarios. The Integrated Supply Chain Management (ISCM) is now not only a problem of integrated logistics (as a process) but also demands that the supply chain management (SCM) must look into the ramifications of these arrangements on the cost of transportation (including tariffs or duties) of products within a trade zone and outside it, besides, developing logistics strategies. The field has thus developed in the last few years for bridging the gap between demand and supply vis-à-vis efficiency and cost trade-offs. The SCM now not only involves the “management of logistic function”, as was done in the past (to achieve internal efficiency of operations) but, includes the management and co-ordination of activities, upstream and downstream linkage(s) in the supply chain. The integrated supply chain management, in particular include : Planning and Managing supply and demand; Warehouse Management; Optimal Inventory control; Transportation and Distribution, Delivery and customer’s delight following the basic principles of supply chain...
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...Capital Budget Policy and Process Vernita Davis-Knight Susan Friguglietti Edna Primas Ronald Rehn University of Phoenix-Online February 27, 2008 Capital Budget Policy and Process Capital budgeting is the process by which capital investment decisions are made. Capital can be described as an organization’s operating assets (Diamond, Hanson &, Murphy, 1994). The capital budgeting process includes "planning, setting goals and priorities, arranging financing, and identifying criteria for making long-term investments" (Diamond et al., 1994, p. 463). Previously, capital budgets were known as plant and equipment budgets (Berman, Kukla &, Weeks, 1994). As the previous term implies, most capital expenditures are long-term investments for plant or equipment investments. Most, if not all, organizations have limited financial resources and must decide how to invest the financial resources for the best advantage of the organization. Capital investment decisions have a significant impact on the organization since large amounts of the organization’s resources are at risk for extended periods of time. This makes capital budgeting one of the most important decision making opportunities an organization can undertake (Diamond et al., 1994). There are two basic types of capital budgeting projects, independent projects and mutually exclusive projects. The independent project does not affect the cash flow of other projects. That is, regardless of whether the project is accepted...
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...Decision-Making in Business and the Repercussions of Unethical Choices In business, managers must attempt to take ethical approaches to all areas of work so as not to compromise the company, the employees, or the organization’s consumers. Specific criteria have been established for managers to follow in order to remain ethical, even when faced with unethical situations. Ivancevich, Konopaske and Mattseson identify these criteria as the following: 1. Utilitarian outcomes. The manager’s behavior results in optimization of satisfaction of people inside and outside the organization. In other words, it results in the greatest good for the greatest number of people. 2. Individual rights. The manager’s behavior respects the rights of all affected parties. In other words, it respects basic human rights of free consent, free speech, freedom of conscience, privacy, and due process. 3. Distributive justice. The manager’s behavior respects the rules of justice. It does not treat people arbitrarily but rather equitably and fairly (2012, Pg. 357-358). By following these three criteria managers are able to help the company, respect rights of the companies’ employees and follow the law. These three criteria are what should be the foundation of every business in order to satisfy the needs of the company, its employees and follow the laws created by the government. This is not always the case, as is visible with many companies seeking to circumvent the law, disregard for employee rights...
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...HND Diploma Business Student name Unit number and title Unit 6: Business Decision Making Assessor name James Kwok Date issued Completion date Submitted on 5th January 2015 16th February 2015 Assignment title BDM: To start-up a upstairs coffee cafe in the city(2 of 2) Learning Outcome Learning outcome Be able to produce information in appropriate formats for decision making in an organisational context Assessment Criteria 3.1 3.2 3.3 3.4 LO3 In this assessment you will have the opportunity to present evidence that shows you are able to: Produce graphs using spreadsheets and draw valid conclusions based on the information derived Create trend lines in spreadsheet graphs to assist in forecasting for specified business information Prepare a business presentation using suitable software and techniques to disseminate information effectively Produce a formal business report Use appropriate information processing tools Prepare a project plan for an activity and determine the critical path Use financial tools for decision making Task Evidence no. (Page no) 3 3 3 3 4 4 4 LO4 Be able to use softwaregenerated information to make decisions in an organisation 4.1 4.2 4.3 Learner declaration I certify that the work submitted for this assignment is my own and research sources are fully acknowledged. Student signature: Date: In addition to the above PASS criteria, this assignment gives you the opportunity to submit evidence in order to...
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