Learning Activity

6. Multi-Criteria
and Multi-
Objective
Decisions
Miguel Angel Flores Trujillo
Introduction to Multi-
Objective Decision-
Making Methods
• Definition: Multi-objective decision-making
methods are approaches that allow evaluating
and making decisions considering multiple
criteria.
• Characteristics: Flexibility, consideration of
multiple objectives, structured, and systematic.
• Utility: They enable addressing complex
decisions by integrating various factors.

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Weighted Points Method

• Definition: Assigns weights to

different criteria and sums
weighted scores to evaluate
options. Is a method of
prioritizing projects by assigning
a numeric value to each task
according to the cost-benefit (or
effort-to-value) analysis.
• Characteristics: Simple,
subjective, requires identifying
the relative importance of
criteria.
• Example: Evaluation of job
candidates based on skills,
experience, and references.

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 Multi-Objective Decision-Making Methods

Goal Programming Method Pareto Dominance Method

• Definition: Seeks optimal solutions that satisfy multiple
objectives by setting goals for each.
• Characteristics: Ideal approach, requires defining clear
goals for each objective.
• Example: Project planning with goals for time, cost,
and quality.
• Definition: Identifies solutions that cannot be improved
in all objectives simultaneously.
• Characteristics: Optimization approach, highlights trade-
offs between objectives.
• Example: Investment selection considering performance
and risk.

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Weighted Points Method
Decision Tree
Method
• Definition: Represents
decisions and their possible
consequences in a tree form.
• Characteristics: Visual,
breaks down decisions into
steps, allows calculating
expected values.
• Example: Choosing business
strategies with multiple
outcomes..
Ordinal Scoring
Method
• Definition: Ranks
alternatives by assigning
relative scores.
• Characteristics: Simple,
ranks options based on
preferences.
• Example: Evaluation of
locations for a new branch
based on accessibility, costs,
and demand.
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 Multi-Objective Decision-Making Methods

AHP Network Analysis Method Fuzzy Logic Method

• Definition: Breaks down problems into hierarchies and
compares alternatives using comparison matrices.
• Characteristics: Structured, considers interrelationships
between criteria.
• Example: Supplier selection considering quality, price,
and reliability.
• Definition: Handles uncertainty and imprecision in
decision-making.
• Characteristics: Considers vagueness, useful when
precise data is unavailable.
• Example: Evaluation of student performance with
multiple factors.

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