ABSTRACT
This chapter describes four different multi-criteria decision aid methods, namely, Multi-attribute utility theory, the VIKOR and TOPSIS methods, and the Fuzzy Preference Ranking Organization Method for Enrichment Evaluation (PROMETHEE) method that uses to determine the critical path of a network. Multi-attribute utility theory combines the main advantages of simple scoring techniques and optimization models. Further, in situations in which satisfaction is uncertain, utility functions have the property that expected utility can be used as a guide to rational decision-making. Utility theory has been used to develop a relationship between utility and costs incurred as a consequence of a particular decision. The VIKOR method is a multi-criteria decision analysis developed to solve decision problems with conflicting and non-commensurable criteria. The TOPSIS method is developed by Hwang and Yoon as an alternative to the ELECTRE method. The basic concept is that the selected alternative should have the shortest distance from the negative-ideal solution. PROMETHEE is a multi-criteria decision-making method developed by Brans.
