Decision Model For Evaluation Research Articles

Resource Optimization Algorithm Based on Evaluation Decision Model of Information Entropy

Xianning is located in the fourth pole of economic growth core area of The Central Triangle, through the location entropy analysis method we can know that, tourism industry is an advantaged industry in Xianning and the adjacent region of The Central Triangle, and have their own advantages and characteristics of tourism resources. According to the space constraint issues on function realization of advantaged tourism resources in Xianning, space breakthrough strategy based on The Central Triangle pattern has been presented.

Merger and acquisition evaluation and decision making model

Based on three merger and acquisition (M&A) methods and applying multiple-criteria decision making, the purpose of this paper is to establish an M&A evaluation model. The decision making trial and evaluation laboratory (DEMATEL) results show that the three business M&A methods possess interactive effect and self-feedback relationships. This study utilizes the analytic network process to calculate the weights of seven evaluation criteria; expected stock dividend is ranked as the most important criterion, followed by stock price/earnings per share, stock dividend growth, sales/market capitalization ratio, discount rate, replacement value, and liquidation value. This study uses Vlsekriterijumska Optimizacija I Kompromisno Resenje (VIKOR) to evaluate the performance of three Taiwanese banks. The results show that Bank B is the best M&A investment choice. Finally, the study establishes a comprehensive M&A decision making evaluation model.

IT security auditing: A performance evaluation decision model

Compliance with ever-increasing privacy laws, accounting and banking regulations, and standards is a top priority for most organizations. Information security and systems audits for assessing the effectiveness of IT controls are important for proving compliance. Information security and systems audits, however, are not mandatory to all organizations. Given the various costs, including opportunity costs, the problem of deciding when to undertake a security audit and the design of managerial incentives becomes an important part of an organization's control process. In view of these considerations, this paper develops an IT security performance evaluation decision model for whether or not to conduct an IT security audit. A Bayesian extension investigates the impact of new information regarding the security environment on the decision. Since security managers may act in an opportunistic manner, the model also incorporates agency costs to determine the incentive payments for managers to conduct an audit. Cases in which the agency model suggests that it is optimal not to conduct an IT security audit are also discussed.

Research on Evaluation Model of Sludge Disposal Method in Sewage Plant

In view of the selection problem of sludge disposal method in the process of sewage treatment, this paper presents main influence factors on sludge disposal method in municipal sewage treatment works and establishes the comprehensive evaluation decision model of sludge disposal method. Using the analytic hierarchy process (AHP) to analyze and evaluate sludge disposal method, the relative weights of the influencing factors are determined and the optimal sludge disposal method is obtained. The establishment of this evaluation decision model can provide a scientific basis for the reasonable selection of sludge disposal method.

Fuzzy hybrid decision model for supplier evaluation and selection

This paper proposes a structured, integrated decision model for evaluating suppliers by combining the fuzzy analytical hierarchy process (FAHP) and grey relational analysis (GRA). The qualitative and partially-known information is incorporated in this decision model using the fuzzy set theory. In this proposed methodology, the weights of the evaluation criteria are calculated by using FAHP, then the ranking of the suppliers is determined by using GRA. Finally to show the robustness of the model, a sensitivity analysis is also performed. In this study, the supplier selection problem of an electroplating industry in the southern part of India was investigated, demonstrating the effectiveness of this developed integrated model. This model can help in solving the complex decision in supplier selection practice. The results generated from the model are properly validated and finally a systematic solution with decision support is provided for decision makers. This model can be integrated with other decision support systems of similar kinds of industries.

Application of AHP and Taguchi loss functions in evaluation of advanced manufacturing technologies

The purpose of this study is to develop the decision model to help decision makers with their technology selection. Evaluation and selection of a new technology is a multi-criteria decision-making process encompassing various tangible and intangible factors. Thus, these factors should be identified for inclusion in the evaluation process. A thorough analysis of the impact, both positive and negative, of such factors on the organization is also required in the evaluation technique. Therefore, the first step in the development of a decision model for evaluation of technology alternatives is the identification of the pertinent factors. To accomplish this, both risks and benefits of implementing a new technology are identified for inclusion in the evaluation process. Once pertinent risks and benefits are identified, a mechanism for analysis of these factors is developed. Since these factors can be objective and subjective, a hybrid approach that applies to both quantitative and qualitative factors is used in the development of the model. Taguchi loss function is used to measure performance of each technology candidate with respect to the risk and benefit categories. Appropriate Taguchi loss functions are formulated based on the target value and the specification limits set by the decision maker. These loss functions are then used to calculate Taguchi loss scores for each technology alternative. Analytic hierarchy process (AHP) is used to determine the relative importance of the risks and benefits to the decision maker. The weighted loss scores are calculated for each technology alternative by using the relative importance as the weights. The composite weighted loss scores are then calculated and used for ranking of the technology alternatives. The technology with the smallest composite loss score is recommended for adoption. The proposed model provides guidelines for managers to make an informed decision regarding technology selection. In addition, combining Taguchi loss function and AHP provides a novel approach for ranking of the potential technology alternatives for implementation purposes.

A rule-based group decision model for warehouse evaluation under interval-valued Intuitionistic fuzzy environments

We consider the issue of warehouse evaluation towards successful logistic and supply chain management. Suppose a company has managed a chain of owned warehouses, and now this company is in need of acquiring some new and profitable warehouse adding to its operation chain. A key business decisions here is how to choose the most profitable warehouses from a number of potential warehouses. In reality, the challenge is that the future profitability is unpredictable. Therefore, it is infeasible to rank potential warehouses directly for choice. To address such a problem, this paper proposes a new rule-based decision model. This model includes the following characteristics: (i) decision information is provided via interval-valued intuitionistic fuzzy values; (ii) multiple experts as a group of decision makers are involved; (iii) both subjective evaluations from experts and objective data of historical profitability are employed; (iv) both certain and uncertain information are exploited. The core decision mechanism is, making use of uncertain information of owned warehouses, to induce a collection of “if…then…”rules, and subsequently to exploit these rules for prediction of preference orders of all potential warehouses. Therein, we develop and integrate multiple techniques for the purposes of (a) aggregation of uncertain information; (b) construction of pairwise comparison; (c) induction of certain and uncertain rules; and (d) decision rules exploitation. We finally elaborate our discussion with a numerical example illustrating the application of the proposed decision mechanism to supply-chain domain problems.

An integrated fuzzy multi-criteria group decision-making approach for green supplier evaluation

Purchasing is one of the most vital functions within a company and supplier performance evaluation is one of the most important business processes of the purchasing function. Traditionally, companies have considered factors such as price, quality, flexibility, etc. while evaluating suppliers. However, environmental pressures urge them to consider green issues. This study proposes a decision model for supplier performance evaluation by considering various environmental performance criteria. An integrated, fuzzy group decision-making approach is adopted to evaluate green supplier alternatives. More precisely, a fuzzy analytic hierarchy process (AHP) is applied to determine the relative weights of the evaluation criteria and an axiomatic design (AD)-based fuzzy group decision-making approach is applied to rank the green suppliers. Finally, a case study is given to demonstrate the potential of the methodology.

Guide‐wire fragment embolisation in paediatric peripherally inserted central catheters

To report guide-wire fragment embolisation of paediatric peripherally inserted central catheter (PICC) devices and explore the safety profile of four commonly used devices. Clinical incidents involving paediatric PICC devices in Queensland public hospitals were reviewed. A PICC user-experience survey was conducted at five public hospitals with 32 clinicians. A device design evaluation was undertaken, and magnetic resonance imaging (MRI) safety was tested by a simulation study. Embolisation events; technical mistakes, multiple attempts and breakages during insertion; willingness to use the device; failure modes and risk priority rating; movement and/or temperature change on exposure to MRI. Six clinical incidents of silent guide-wire embolisation, and four near misses were identified; all were associated with one type of device. The survey found that this device had a reported broken-wire embolisation rate of 0.9/100 insertions with no events in other devices; two of the four devices had a higher all-cause embolisation rate (3.3/100 insertions v 0.4/100 insertions) and lower clinician acceptance (68%-71% v 91%-100%). All devices had 6-17 identified failure modes; the two devices that allowed removal of a guide wire through a septum had the highest overall risk rating. Guide-wire exposure to MRI was rated a potential safety risk due to movement. There is marked variation in the safety profile of 3 Fr PICC devices in clinical use, and safety performance can be linked to design factors. Pre-MRI screening of all children who have previously had a PICC device inserted is recommended. We advocate a decision-making model for evaluation of device safety.

Multiple attribute decision models for evaluation of services

Multiple attribute decision models for evaluation of services

Multi Attribute Decision Making Model for the Evaluation of Flexible Manufacturing System

A Multi attribute decision making model for evaluation of alternative Flexible manufacturing systems and rank them suitably when their attribute features are presented in a combination of cardinal and ordinal values is discussed. A decision supporting model which readily accepts the cardinal and ordinal data for the attribute features of the alternatives and gives out the evaluation of the alternatives in terms of ranks is developed.

Customer-driven product design and evaluation method for collaborative design environments

Product concept generation and evaluation in a product development environment has been identified as the two major activities needed for obtaining an optimal design scheme. Product conceptual design is of critical importance in design through customer involvement for the systematic and simultaneous consideration on the impact of design decisions on manufacturing and assembly leads to repeated and excessive changes in design and processes. This paper introduces a novel knowledge support approach for the organization and ranking of design feature knowledge towards an integrated product model that incorporates a feature-based representation scheme targeted to evaluate the impact of design on subsequent activities in the conceptual design phase, taking into account the presence of design information and user preferences. An uncertain linguistic multi-attribute decision-making evaluation model is proposed and discussed for obtaining an optimal design scheme during the evaluation and selection of product design alternatives in conceptual design. The focus of this paper is on the development of a knowledge-intensive support design scheme and a comprehensive systematic fuzzy evaluation methodology for product conceptual design generation, evaluation, and selection. A case study and the corresponding scenario of knowledge support for design alternatives generation, evaluation and selection are provided for illustration.

AHP approach for supplier evaluation and selection in a steel manufacturing company

Supplier selection is one of the most critical activities of purchasing management in supply chain. Supplier selection is a complex problem involving qualitative and quantitative multi-criteria. A trade-off between these tangible and intangible factors is essential in selecting the best supplier. The work incorporates AHP in choosing the best suppliers. The results suggest that AHP process makes it possible to introduce the optimum order quantities among the selected suppliers so that the Total Value of Purchasing (TVP) becomes maximum. In this work, an AHP-based supplier selection model is formulated and then applied to a real case study for a steel manufacturing company in Malaysia. The use of the proposed model indicates that it can be applied to improve and assist decision making to resolve the supplier selection problem in choosing the optimal supplier combination. The work represents the systematic identification of the important criteria for supplier selection process. In addition, the results exhibit the application of development of a multi-criteria decision model for evaluation and selection of suppliers with proposed AHP model, which by scoring the performance of suppliers is able to reduce the time taken to select a vendor.

A framework for evaluation of flood management strategies

The resulting impact of disasters on society depends on the affected country's economic strength prior to the disaster. The larger the disaster and the smaller the economy, the more significant is the impact. This is clearest seen in developing countries, where weak economies become even weaker afterwards. Deliberate strategies for the sharing of losses from hazardous events may aid a country or a community in efficiently using scarce prevention and mitigation resources, thus being better prepared for the effects of a disaster. Nevertheless, many governments lack an adequate institutional system for applying cost effective and reliable technologies for disaster prevention, early warnings, and mitigation. Modelling by event analyses and strategy models is one way of planning ahead, but these models have so far not been linked together. An approach to this problem was taken during a large study in Hungary, the Tisza case study, where a number of policy strategies for spreading of flood loss were formulated. In these strategies, a set of parameters of particular interest were extracted from interviews with stakeholders in the region. However, the study was focused on emerging economies, and, in particular, on insurance strategies. The scope is now extended to become a functional framework also for developing countries. In general, they have a higher degree of vulnerability. The paper takes northern Vietnam as an example of a developing region. We identify important parameters and discuss their importance for flood strategy formulations. Based on the policy strategies in the Tisza case, we extract data from the strategies and propose a framework for loss spread in developing and emerging economies. The parameter set can straightforwardly be included in a simulation and decision model for policy formulation and evaluation, taking multiple stakeholders into account.

Evaluating Economically Justified Road Works Expenditures on Unpaved Roads in Developing Countries

Unpaved roads require periodic road works to maintain road condition over time. These works, which require planning and economic justification, typically consist of routine maintenance, grading, spot regraveling, and regraveling activities. To help road agencies identify unpaved road sections that may be candidates for maintenance works, this paper presents the methodology of a typical analytical study applying the roads economic decision model for economic evaluation of unpaved roads, taking into account a main concern in developing countries—that is, defining a proper level of investments and quality of maintenance on unpaved roads compatible with the amount of traffic on the roads and the unit road user costs and road works costs in the country. The methodology computes economically justified levels of road investment and maintenance works expenditures. Results of the methodology should be considered a first screening process, and candidate roads that pass this first screening should be subject to further investigation that would include more rigorous economic assessment and evaluation of other aspects of the proposed expenditures, notably environmental and social aspects. The sample results derived should be considered no more than a first approximation of country-specific results. To obtain results for any country, the methodology should be replicated and adapted with refined country-specific data.

Development of a fuzzy decision model for manufacturability evaluation

A manufacturability evaluation decision model is formulated and analyzed based on fuzzy logic and multiple attribute decision-making under the concurrent engineering environment. The study emphasizes on the treatment of the linguistic and vagueness at the early product development stage. The study also considers the function integration of the total life cycle of a product. Hence, the integrated decision model covers the multi-level, multi-goal requirements of the products. Multiple criteria such as the goal space, the decision space, the function space, the development (i.e., product & process design) space, and the activity space, are then applied under different analysis of decision-making methods. For instances, the fuzzy multiple attribute decision-making (FMADM) combined with activity-based costing (ABC) can be used in the activity decision space. The fuzzy logic decision model can be applied in the goal decision space. The results of this study point out the importance of early decision making capability. An example of a high-pressure vessel is provided to demonstrate the proposed model for evaluating the manufacturability.

A Decision Model for Strategic Evaluation of Enterprise Information Technologies

Enterprise information technologies (EITs), which are strategic systems seeking to integrate the processes and databases of the entire organization and beyond, require a significant investment of money and human resources in return for the promise of a global business model and its associated far-reaching benefits. Their evaluation/justification must be completed with organizational goals and requirements included in the decision, or the organization could lose financially and competitively. Besides traditional financial models, e.g., ROI (return on investment), that are primarily meant for short-term financial justification purposes, there is a paucity of methods for the evaluation of the strategic and intangible costs and benefits that EITs afford organizations as a whole. This article introduces the use of a robust quantitative technique called the analytical hierarchy process (AHP) that can integrate a diverse range of factors (strategic and operational, and tangible and intangible) into one model. the approach can be easily understood by managers and analysts and has a history of application to other types of strategic justification decisions.

A decision model for evaluation of flexible manufacturing systems in the presence of both cardinal and ordinal factors

This paper presents a model for evaluating alternative Flexible Manufacturing Systems by considering both quantitative and qualitative factors. The evaluation process utilizes a recently proposed Data Envelopment Analysis (DEA) model, which incorporates both ordinal and cardinal measures, in conjunction with new extensions in DEA. The paper contributes to the body of knowledge in two important ways. First, it provides a new model based on pair-wise comparisons of specific alternatives, which significantly improves the discriminatory power of DEA. The second major contribution is to detail the model's utility in its application for evaluating strategic manufacturing technologies, specifically Flexible Manufacturing Systems. The consideration of both tangible and intangible factors, which is a primary goal in strategic evaluation of systems, is achieved in this methodology. The model is illustrated through an application on a previously reported data set. The analysis of results provide useful insights that include both seller's and buyer's perspectives of system evaluation.

Selecting a decision model for economic evaluation: a case study and review.

The increased use of modelling techniques as a methodological tool in the economic evaluation of health care technologies has, in the main, been limited to two approaches--decision trees and Markov chain models. The former are suited to modelling simple scenarios that occur over a short time period, whilst Markov chain models allow longer time periods to be modelled, in continuous time, where the timing of an event is uncertain. In the context of economic evaluation, a less well developed technique is discrete event simulation, which may allow even greater flexibility. Taking the economic evaluation of adjuvant therapies for breast cancer as an illustrative example, the process of building a decision tree, a Markov chain model, and a discrete event simulation model are described. The potential benefits and problems of each approach are discussed. The suitability of the modelling techniques to economic evaluations of health care programmes in general is then discussed. This section aims to illustrate the areas in which the alternative modelling methods may be most appropriately employed.

Decision models for analysis and evaluation of construction contractors

The concept of a hybrid computerized decision support system for the evaluation of construction contractors' suitability to perform the work associated with a project is presented. Previously developed decision tools are summarized and justification for the creation of such a system is proposed. The system configuration is described along with the modelling techniques available for each aspect of prequalification decision-making.