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Multi-objective Decision Analysis by Clinton W. Brownley

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CHAPTER 1

Introduction to ­Multiobjective Decision Analysis

Your best hope for a good decision outcome is a good decision process.

–J. Russo & P. Schoemaker

Today’s business environment is fraught with complexity and ­uncertainty. A variety of factors contribute to such complexity–the desire to achieve ­multiple objectives at once, the wish to address the values and ­attitudes toward risk of multiple stakeholders, the difficulty of identifying ­suitable alternatives, the challenge of measuring intangibles, and the often ­impossibility of precisely predicting the future consequences of alternatives. While it would be magnificent if it were otherwise, complexity is inherent to the business environment, so it cannot be avoided.

Such complexity ...

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