R-method: A simple ranking method for multi-attribute decision-making in the industrial environment

Abstract: A simple multi-attribute decision-making method based on ranking of alternatives and attributes is proposed in this paper. The method ranks the alternatives with respect to each of the attributes based on the corresponding performance measures. Similarly, the ranks are assigned to the attributes based on their importance as perceived by the decision maker. The ranks assigned to the alternatives with respect to each of the attributes and the ranks assigned to the attributes are converted to appropriate weights and the final composite scores of the alternatives are computed using these weights. An interesting feature of the proposed method is that the qualitative attributes (i.e. the attributes expressed in linguistic terms) need not require the use of fuzzy logic. The proposed method is very simple and useful in situations of limited time availability, presence of qualitative attributes, imprecise/incomplete/partial data, and decision maker’s limited attention and capability to process the information. The proposed method is proved easier and better compared to the other widely used decision-making methods. The proposed method will be tested further on more realistic problems of the industrial environment and the results will be reported soon.

How to cite this paper

 Rao, R & Lakshmi, J. (2021). R-method: A simple ranking method for multi-attribute decision-making in the industrial environment.Journal of Project Management, 6(4), 223-230.

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