Multi Criteria Decision Analysis (MCDA) In Excel - Objective Decisions Using Operational Research

We undertake a Multi Criteria Decision Analysis in Excel. Multi criteria decision analysis is a useful decision making tool which allows you to make more objective decisions. It does so by allowing you to compare different options based on numerical scores. The tool consists of 5 steps. Firstly, we will identify what the options we can choose from are, we will then select the criteria to evaluate those options. Following this, we will set the weights for each criterion to assess their relative importance. We will then identify scores for each option for each given criterion and finally examine the scores and arrive at a decision. In our fictitious example, we’re considering a UK-based luxury car manufacturer, looking to expand production. It has three options - firstly to move manufacturing to China, secondly to move manufacturing to Germany and finally to keep manufacturing in the UK.

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Overview: (0:00)
Step 1 - Select Options: (1:11)
Step 2 - Select Criteria: (1:25)
Step 3 - Set Weights: (2:29)
Step 4 - Attach Scores: (5:05)
Step 5 - Examine Scores: (12:16)

[rubinipriya]

Hi, if there are a total of 3 levels, what do you do? Do you sum up the level 2 and multiply it by the level 1 weight?

[hulkgaming]

Hey, do you have a tutorial for this video, how to make assessment

[augustj]

Is the method used in your Multi Criteria Decision Analysis a well-known technique within the decision theory domain, or is it a customized approach?