15.1 Multi-criteria Analysis
15.1.1 Introduction
Up to now, the approaches used in previous chapters have tried to subject the
attribute to a technique that permitted it to be formulated in monetary terms or to
alter the technique to enable inclusion of the attributes in their non-monetary format.
In either situation, the assessment essentially boils down to an economic one, with
some adjustments and corrections carried out so as to allow a more inclusive
assessment. Most of the usual decision problems related to engineering projects
involve quantitative attributes which are quite easy and direct to either define or
measure in monetary terms.
However, all evaluation processes are not confined to a purely economic one.
Most often, the analysis relates to a multi-criteria assessment, where all attributes,
whether they are monetary or non-monetary, economic or environmental, are evaluated on an equal basis. The more complex decision problems usually comprise
attributes that are neither easy to define nor to measure in monetary terms. Although
it might be possible to quantify some attributes, it might still be impossible to convert
them into money terms. Others may be qualitative or intangible attributes, without
any reasonable quantitative measurement of their impact. The assessment of most
engineering development projects in the public sector usually comprises such
decision criteria. The multi-criteria framework enables such factors to be explained
and discussed in an all-inclusive and dependable format. The goal-achievement
technique is an approach which comes from the cost-benefit framework, but has
developed into a decision method that enables all types of attributes to be evaluated
on an equal basis, thus having many characteristics belonging to a multi-criteria
model.
The basic strategy used in multi-criteria decision models comprises decomposition followed by aggregation. The decomposition procedure divides the problem
into many different smaller problems comprising each of the different criteria. This
decomposition of a problem into smaller problems facilitates the decision maker’s
job in analysing the information arising from dissimilar origins. The aggregation
process enables all the different information components to be collected together to
allow taking a final decision. In multi-criteria models, the aggregation process
comprises either using certain information or adopting certain assumptions with
respect to the relative weightages of the individual criteria.
This category of decision model is quite relevant to the assessment procedure for
a public-sector engineering project which has to consider both environmental and
social criteria alongside economic considerations on a rather equal footing. Using a
process that can include all possible parameters rather than one that excludes or
marginalises a few classes of attribute has more chances of obtaining public acceptance, whatever the assessment reveals.
412
15 Multi Objective Evaluation Criteria for Infrastructure
15.1.1 Introduction
Up to now, the approaches used in previous chapters have tried to subject the
attribute to a technique that permitted it to be formulated in monetary terms or to
alter the technique to enable inclusion of the attributes in their non-monetary format.
In either situation, the assessment essentially boils down to an economic one, with
some adjustments and corrections carried out so as to allow a more inclusive
assessment. Most of the usual decision problems related to engineering projects
involve quantitative attributes which are quite easy and direct to either define or
measure in monetary terms.
However, all evaluation processes are not confined to a purely economic one.
Most often, the analysis relates to a multi-criteria assessment, where all attributes,
whether they are monetary or non-monetary, economic or environmental, are evaluated on an equal basis. The more complex decision problems usually comprise
attributes that are neither easy to define nor to measure in monetary terms. Although
it might be possible to quantify some attributes, it might still be impossible to convert
them into money terms. Others may be qualitative or intangible attributes, without
any reasonable quantitative measurement of their impact. The assessment of most
engineering development projects in the public sector usually comprises such
decision criteria. The multi-criteria framework enables such factors to be explained
and discussed in an all-inclusive and dependable format. The goal-achievement
technique is an approach which comes from the cost-benefit framework, but has
developed into a decision method that enables all types of attributes to be evaluated
on an equal basis, thus having many characteristics belonging to a multi-criteria
model.
The basic strategy used in multi-criteria decision models comprises decomposition followed by aggregation. The decomposition procedure divides the problem
into many different smaller problems comprising each of the different criteria. This
decomposition of a problem into smaller problems facilitates the decision maker’s
job in analysing the information arising from dissimilar origins. The aggregation
process enables all the different information components to be collected together to
allow taking a final decision. In multi-criteria models, the aggregation process
comprises either using certain information or adopting certain assumptions with
respect to the relative weightages of the individual criteria.
This category of decision model is quite relevant to the assessment procedure for
a public-sector engineering project which has to consider both environmental and
social criteria alongside economic considerations on a rather equal footing. Using a
process that can include all possible parameters rather than one that excludes or
marginalises a few classes of attribute has more chances of obtaining public acceptance, whatever the assessment reveals.
412
15 Multi Objective Evaluation Criteria for Infrastructure