The paper considers major principles of application of the multi‐attribute systems to solve legislative tasks. In order to assess dispute resolution methods from economic, social and other points of view, it is necessary to apply methods for assessing solutions according to multiple attributes. All known multi‐attribute methods cannot value the atribute weights as one weight of attribute is higher or lower significant than the other attribute. The new step‐wise weight assessment ratio analysis method (SWARA) allows including experts, lawyers or dispute parties opinion about significance ratio of the attributes in the process of rational decision determination. SWARA method could be applied in practical implementation of specialised decision support systems and alternative dispute resolution in virtual environment. Starting with principles and established approaches, a problem‐structuring methodology was developed which would condition the problem to allow a more thoughtful application of existing...

Selection of rational dispute resolution method by applying new step‐wise weight assessment ratio analysis (Swara)

Lecture Notes in Economics and Mathematical Systems

Technological and Economic Development of Economy

Multiple criteria decision-making (MCDM) is considered as a complex decision-making (DM) tool involving both quantitative and qualitative factors. In recent years, several MCDM techniques and approaches have been suggested to choosing the optimal probable options. The purpose of this article is to systematically review the applications and methodologies of the MCDM techniques and approaches. This study reviewed a total of 393 articles published from 2000 to 2014 in more than 120 peer reviewed journals (extracted from Web of Science). According to experts’ opinion, these articles were grouped into 15 fields. Furthermore, these articles were categorised based on authors, publication date, name of journals, methods, tools, and type of research (MCDM utilising research, MCDM developing research, and MCDM proposing research). The results of this study indicated that in 2013 scholars have published articles more than in other years. In addition, the analytic hierarchy process (AHP) method in the individual tool...

/pdf/multiple-criteria-decision-making-techniques-and-their-1j6wsyweg7.pdf

Multiple criteria decision-making techniques and their applications – a review of the literature from 2000 to 2014

The main research activities in economics during the last five years have significantly increased. The main research fields are operation research and sustainable development. The philosophy of decision making in economics is to assess and select the most preferable solution, implement it and to gain the biggest profit. Preferences are used in a lot of problem situations both in individual and organizational decision making processes. A number of effective decision making methods that support decisions under conditions of multiple criteria have appeared in the last decade. This paper presents a panorama of decision making methods in economics and summarizes the most important results and applications over the last five years. This paper considers decision making in light of the recent developments of multiple criteria decision making methods (because classical methods are overviewed in a lot of earlier publications). Authors of different approaches, pioneering studies and works are presented in s...

/pdf/multiple-criteria-decision-making-mcdm-methods-in-economics-4v8jgr0r3t.pdf

Multiple criteria decision making (MCDM) methods in economics: an overview

The paper presents risk assessment of construction projects The assessment is based on the multi‐attribute decision‐making methods The risk evaluation attributes are selected taking into consideration the interests and goals of the stakeholders as well as factors that have influence on the construction process efficiency and real estate value Ranking of objects and determination of their optimality are determined by applying TOPSIS grey and COPRAS‐G methods with attributes values determined at intervals A background and a description of the proposed model are provided and key findings of the analysis are presented

/pdf/risk-assessment-of-construction-projects-2nwnaylmv0.pdf

Risk assessment of construction projects

The higher life quality standards, the changes of habits and new well‐being requirements have led to an increase in the demand for housing. Decision‐making problems in construction management often involve a complex decision‐making process in which multiple requirements and conditions have to be taken into consideration simultaneously. However, not every attribute used in multidimensional scaling is equally and precisely weighted in the real world. Thus quantitative and qualitative assessments are often required to deal with uncertainty, subjective and imprecise data. The accuracy of performance measures in common multi‐attribute methods is usually assumed to be accurate. Grey theory is a new technique for performing prediction, relational analysis and decision‐making in many areas. This paper considers the application of grey relations methodology for defining the utility of an alternative and is proposed as a method of multiple criteria COmplex PRoportional Assessment of alternatives with Grey ...

Selection of the effective dwelling house walls by applying attributes values determined at intervals

There is a number of criteria and associated sub‐criteria influencing the match of managers to construction projects. Criteria and sub‐criteria were identified based on a thorough review of the related literature and interviews of management personnel involved in the project managers selection. Project managers characteristics are considered to be less important for an effective project management. The model is based on multicriteria evaluation of project managers. The evaluation embraces the identified criteria influencing the process of construction project manager selection. This paper considers the application of grey relations methodology to defining the utility of alternatives, and offers a multiple criteria method of Complex Proportional Assessment of alternatives with grey relations (COPRAS‐G) for analysis. In this model, the parameters of the alternatives are determined by the grey relational grade and expressed in terms of intervals. A case study presents the selection of construction p...

Multicriteria selection of project managers by applying grey criteria

The accuracy of performance measures in common multicriteria methods is usually assumed to be accurate. Grey theory is a new technique for performing prediction, relational analysis and decision‐making in many areas. This paper presents applicability of grey theory techniques for defining the utility of an alternative. Proposed assessment model covers well known method of TOPSIS (Technique for Order Preference by Similarity to Ideal Solution), method with attributes values determined at intervals (TOPSIS‐grey) and a new method of Simple Additive Weighting with Grey relations (SAW‐G). A case study of the assessment of contractors’ competitive ability was used to demonstrate the applicability and the effectiveness of the proposed approach. The results show that the methods of grey relations methodology can be implemented as an effective decision aid for tasks with uncertain data.

/pdf/contractor-selection-for-construction-works-by-applying-saw-294a7bzh89.pdf

Contractor selection for construction works by applying saw‐g and topsis grey techniques

https://isiarticles.com/bundles/Article/pre/pdf/5339.pdf

Jolanta Tamosaitiene

Papers

Risk assessment of construction projects

Selection of the effective dwelling house walls by applying attributes values determined at intervals

Multicriteria selection of project managers by applying grey criteria

Contractor selection for construction works by applying saw‐g and topsis grey techniques

Selection of construction enterprises management strategy based on the SWOT and multi-criteria analysis