• Management Science and Financial Engineering
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• v.21 no.2
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• pp.9-11
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• 2015

This note is concerned with the use of incomplete weights in multiple criteria decision making. In an earlier study, an optimistic use of incomplete weights is developed to prioritize decision alternatives, which applies the most favorable set of weights to the alternative to be evaluated. In this note, we develop a method for a pessimistic use, thereby applying the least favorable weight set to the evaluated alternative. This development makes possible a more detailed prioritization of competing alternatives, and hence enhances decision-making powers.

• Proceedings of the Korea Water Resources Association Conference
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• 2017.05a
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• pp.181-181
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• 2017

Low impact development (LID) practices has become important to mitigate the damage from natural disasters in urban areas. Thereby many hydrological simulation models can simulate the hydrological impact of LID practices. However, commonly used models are not able to provide specific information to most users such as where LIDs should be placed and what kind of LID should be designed. In this study, a decision support system which can be used with the EPA's SWMM was developed for the determination of LID types and locations of LID practices, named Water Management Prioritization Module (WMPM), was applied to a urbanized university campus. Eight sub-catchments were selected as feasible candidate areas for the planning of LID practices. Pre-designated infiltration trenches and permeable pavements were applied to each selected sub-catchments, followed by peak and total runoffs comparison between before/after planning of LIDs. Moreover, TOPSIS, one of a multi-criteria decision analysis method was used in the procedure of selecting target sub-catchment areas and final prioritization of LID types and locations. As a result, sub-catchments S4 with permeable pavements and S16 with infiltration trenches has shown the most decrease in total and peak runoffs, respectively. Therefore, WMPM was found to be effective in determining the best alternative among various scenarios generated and simulated.

• Journal of Convergence for Information Technology
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• v.11 no.11
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• pp.10-16
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• 2021

As the implementation of smart factories spreads widely, the need for research to improve data efficiency is raised by prioritizing massive amounts of big data using IoT devices in terms of relevance and quality. The purpose of this study is to investigate whether prioritizing big data in management accounting decisions such as cost volatility estimation and recipe optimization can improve smart solution performance and decision-making effectiveness. Based on the survey answers of 84 decision makers at domestic small and medium-sized manufacturers who operate smart solutions such as ERP and MES that link manufacturing data in real time, empirical research was conducted. As a result, it was analyzed that setting prioritization of big data has a positive effect on decision-making in management accounting. became In addition, it was found that big data prioritization has a mediating effect that indirectly affects smart solution performance by using big data in management accounting decision making. Through the research results, it will be possible to contribute as a prior research to develop a scale to evaluate the correlation between big data in the process of business decision making.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.33 no.3
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• pp.917-926
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• 2013

This study presents the feasibility of fuzzy multi-criteria decision making (MCDM) techniques for the robust prioritization of projects. It is applied to water resources planning problem. Results from weighted sum method (WSM), analytic hierarchy process (AHP), revised analytic hierarchy process (R-AHP), and TOPSIS are compared with those from Fuzzy WSM, Fuzzy, AHP, Fuzzy R-AHP, and Fuzzy TOPSIS. For the calculation, all weights on criteria and the normalized data were obtained from the same investigation. As a result, the rankings from four MCDM techniques are slightly different while those from fuzzy MCDM show the comparatively consistent ranking. Therefore, it is desirable to use fuzzy MCDM technique when MCDM is used for the prioritization problem, since fuzzy MCDM can include the uncertain variability of input data and weighting values on criteria.

• Management Science and Financial Engineering
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• v.17 no.2
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• pp.63-84
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• 2011

The ordinary multiple criteria decision making (MCDM) approach requires two types of input, alternative values and criterion weights, and employs two schemes of alternative prioritization, dominance and potential optimality. This paper allows for incomplete information on both types of input and gives rise to the dominance relationships and potential optimality of alternatives. Unlike the earlier studies, we emphasize that incomplete information frequently takes the form of strict inequalities, such as strict orders and strict bounds, rather than weak inequalities. Then the issues of rising importance include: (1) The standard mathematical programming approach to prioritize alternatives cannot be used directly, because the feasible region for the permissible decision parameters becomes an open set. (2) We show that the earlier methods replacing the strict inequalities with weak ones, by employing a small positive number or zeroes, which closes the feasible set, may cause a serious problem and yield unacceptable prioritization results. Therefore, we address these important issues and develop a useful and simple method, without selecting any small value for the strict preference information. Given strict information on both types of decision parameters, we first construct a nonlinear program, transform it into a linear programming equivalent, and finally solve it via a two-stage method. An application is also demonstrated herein.

• The Journal of Information Systems
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• v.17 no.4
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• pp.129-156
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• 2008

This study empirically tested a research model and hypothesis extracted and based on IT governance and knowledge sharing theories. In this study we targeted CIO and IS managers to find the effects of the degree of knowledge sharing between CEO and CIO regarding five areas of IT governance decision-making: IT principles, IT architecture, IT infrastructure, business application needs, and IT investment and prioritization, on IT and business alignment. Additionally we studied the effects of business alignment on the effectiveness of information systems. Results showed that the degree of knowledge sharing in CEO and CIO on IT principles, IT infrastructure, IT investment and prioritization had a positive influence on IT and business alignment, ultimately showing a positive influence on the effectiveness of information systems. This research has shown that fording the preferable relationship between IT and business affected by performing high quality decision making based on knowledge sharing and consequently it also is a basis to provide a positive influence to the effectiveness of the information system.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.23 no.9
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• pp.31-39
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• 2009

This paper shows prioritization process for equipment investment plans considering reliability indices and economical efficiency. To decide prioritization of distribution investment projects, we made a distribution system model using system configuration, it's component and load information and designed several investment alternatives to improve reliability of present system. Lastly, we proposed a evaluation model of economical efficiency assessment on distribution investment alternative projects. To analyze influence by reliability and economical efficiency, we produced economical effects with applying time-varying failure rate of KEPCO's main equipments of distribution system and interruption cost of electric power affected by investment. Finally, in order to insure the validity of this proposed methodology, we compared investment prioritization by economical evaluation with that of real investment alternatives of KEPCO's branch office. In conclusion, this paper shows what and how to interpret the reliability effects of distribution system investments into financial indicators beneficial for power utilities's managers to make decision on the perspective of corporate value.

• Membrane and Water Treatment
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• v.9 no.6
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• pp.421-434
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• 2018

Decision-makers have different and sometimes conflicting goals with utilities in operating dam reservoirs. As repeated interactions exist between decision-makers in the long-term, and the utility of each decision-making organization is affected not only by its selected strategy, but also by other rivals' strategies; selecting and prioritizing optimum strategies from a decision maker's point of view are of great importance while interacting with others. In this paper, a model based on a fuzzy set theory, for determining the priority of decision-makers' strategies in optimal qualitative-quantitative operation management of dam reservoir is presented. The fuzzy priority matrix is developed via defining membership functions of a fuzzy set for each decision maker's strategies, so that all uncertainties are taken into account. This matrix includes priorities assigned to possible combination for other decision makers' strategies in bargaining with each player's viewpoint. Here, the 15-Khordad Dam located in the central part of Iran, suffering from low water quality, was studied in order to evaluate the effectiveness of the model. Then, the range of quality of water withdrawal agreed by all decision-makers was determined using the prioritization matrix based on fuzzy logic. The results showed that the model proposed in the study had high effectiveness model.

• Journal of the Korea Safety Management & Science
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• v.16 no.3
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• pp.23-34
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• 2014

With a view to analyzing the influential factors and their prioritization in association with the loss from construction disasters, this study has presented relative weighted value and importance for each category of loss by making a systematic classification of costs for non-insured categories (indirect costs) and conducting AHP analysis based on results of a survey of specialists. Through the study, first, I have divided the larger classification of loss factors into human loss factor, financial loss factor, special cost factor, and managerial loss factor, and, second, have presented prioritization of loss categories by allotting scores based on weighted values after calculating weighted value through pairwise comparison of loss levels. Based on these results of the study, we should be able to qualitatively calculate the loss costs that construction disasters inflict on business, promote rational decision-making and efficiency in spending related to a disaster, and compare it against safety investment designed to reduce disaster loss from the perspective of business strategy.

• Journal of the Earthquake Engineering Society of Korea
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• v.12 no.6
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• pp.47-53
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• 2008

This research focuses on the issue of seismic retrofit prioritization based on the Caltrans' highway network serving Los Angeles and Orange counties. Retrofit prioritization is one of most important problems in earthquake engineering, and it is a problem that most decision makers face in the process of resource allocation. This study demonstrates the methods of prioritized resource allocation in the process of retrofitting a regional highway network. For the criteria of a retrofit ranking, seismic vulnerability and the importance of network link are first introduced. Subsequently, link-based seismic retrofit cases are simulated, investigating the effects of the seismic retrofit in terms of seismic performance, such as driver's delay. In this study, probabilistic scenario earthquakes are used to perform a probabilistic seismic risk analysis. The results show that the retrofit prioritization can be differently defined and ranked depending on the stakeholders. This study provides general guidelines for prioritization strategy for the effective retrofitting of a highway network system.