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Decision Making Project

In: Business and Management

Submitted By upvimla
Words 12160
Pages 49
Advances: Decision Analysis Structure 7

Page 1 of 45

Ch 08 060502 V06

Developing Objectives and Attributes Ralph L. Keeney

Abstract The fundamental objectives of any decision problem should define why the decision maker is interested in that decision. However, listing a complete set of the fundamental objectives for a decision is not a simple task. It requires creativity, time, some hard thinking, and the recognition that it is important. This chapter offers many suggestions to help do the task well and provides criteria to appraise the quality of the resulting set of fundamental objectives. For an analysis of the alternatives in terms of these objectives, an attribute to measure the achievement of each objective is required. Good attributes are essential for an insightful analysis. This chapter also includes many suggestions to help identify or construct useful attributes as well as criteria to appraise the quality of the resulting attributes. Collectively, the fundamental objectives and corresponding attributes provide the basis for any objective function and for any discussion of the pros and cons of the alternatives.

CONTENTS Objectives and Attributes Identifying Objectives Listing Values Specifying Objectives from Values Structuring Objectives Desirable Properties of Fundamental Objectives

Advances: Decision Analysis Structure Basic Concepts about Attributes Desirable Properties of Attributes Unambiguous Comprehensive Direct Operational Understandable

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Ch 08 060502 V06

A Decision Model for Selecting Attributes Summary

Advances: Decision Analysis Structure

Page 3 of 45

Ch 08 060502 V06

For any decision situation, there is a specific time when it is first recognized. Before that time, there is no conscious awareness of the decision. These decision situations can be categorized depending on how they were elevated

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