ABSTRACT
Decision-making methods can be grouped under intuitive approaches, programmed approaches, and analytic approaches. An intuitive process is usually the decision-maker's own and internal to them. Programmed decisions are those that are made automatically, usually based on previous analysis or experience. Analytic approaches are based on a structured and systematic process. The focus of this book is on the analytic approaches. Two problems, one in the public sector and another in the private sector, are used to demonstrate the common elements of any decision problem, which are multiple alternatives, multiple and conflicting criteria for evaluating alternatives, and the need for trade-offs or compromise among outcomes. For ease of understanding, definitions of alternatives, attributes, objectives, goals, criteria, and constraints are provided. Then, various aspects of a ‘best’ solution are explained through the descriptions of a feasible solution, optimum solution, dominated solution, non-dominated solution, ideal solution, anti-ideal solution, satisficing solution, and best compromise or preferred solution. Finally, an overview of the decision-making steps as well as a broad classification of the decision-making methods is provided.
