State of art surveys of overviews on MCDM/MADM methods

Abstract

Decision-making is primarily a process that involves different actors: people, groups of people, institutions and the state. As a discipline, multi-criteria decision-making has a relatively short history. Since 1950s and 1960s, when foundations of modern multi-criteria decision-making methods have been laid, many researches devoted their time to development of new multi-criteria decision-making models and techniques. In the past decades, researches and development in the field have accelerated and seem to continue growing exponentially. Despite the intensive development worldwide, few attempts have been made to systematically present the theoretical bases and developments of multi-criteria decision-making methods. However, the methodological choices and framework for assessment of decisions are still under discussion. The article describes the situation with reviews of MCDM/MADM methods. Furthermore, there is a need for research to study the strengths and weaknesses of different decision-making methods.

Keywords:

• Multi-Criteria Decision Making (MCDM)
• Multiple Objective Decision Making (MODM)
• overview
• ISI Web of Science databases

JEL Classification:

• C02
• C52

Additional information

Notes on contributors

Edmundas Kazimieras Zavadskas

Edmundas Kazimieras ZAVADSKAS. PhD, DSc, h.c.multi. Prof., the Head of the Department of Construction Technology and Management of Vilnius Gediminas Technical University, Lithuania. Senior Research Fellow at the Research Institute of Smart Building Technologies. PhD in Building Structures (1973). Dr Sc. (1987) in Building Technology and Management. A member of Lithuanian and several foreign Academies of Sciences. Doctore Honoris Causa from Poznan, Saint Petersburg and Kiev universities. The Honorary International Chair Professor in the National Taipei University of Technology. A member of international organizations; a member of steering and programme committees at many international conferences; a member of the editorial boards of several research journals; the author and co-author of more than 400 papers and a number of monographs in Lithuanian, English, German and Russian. Editor-in-chief of journals Technological and Economic Development of Economy and Journal of Civil Engineering and Management. Research interests: building technology and management, decision-making theory, automation in design and decision support systems.

Zenonas Turskis

Zenonas TURSKIS. PhD from VISI (Vilnius Engineering Construction Institute, former name of Vilnius Gediminas Technical University). He works at the Construction Department of Vilnius Gediminas Technical University. He has more than 100 publications in journals such as International Journal of Information Technology & Decision Making, Economic Research, Journal of Economic Computation and Economic Cybernetics Studies and Research (ECECSR) and more. His research interests include automated programming, technological decision multicriteria evaluation in construction and investment areas.

Simona Kildienė

Simona KILDIENĖ. PhD student at the Department of Construction Technology and Management of Vilnius Gediminas Technical University, Vilnius, Lithuania. Master of Science (construction engineering), VGTU, 2010. Bachelor of Science (construction management), VGTU, 2008. Research interests include construction economics, construction management, multiple criteria analysis and decision-making theories.