"Decision Making inEngineering and Business: A Cost Effective Approach"
Proceedings of Nortcon '94,
Seattle, WA, October 11-13, pp. 232-237, 1994.
by Triantaphyllou, E., and S.H. Mann
Abstract:
A critical issue in all real life decision-making problems is
the effective estimation of the pertinent data. Often data are difficult
to be estimated with accuracy, or too dynamic to allow for a timely estimation.
This is the case with most of the environmental, resource management, maintenance,
economic, agricultural, and manufacturing problems everywhere, especially in the United States.
If the input data are not correct, then the decision making process may cause a problem
more severe than the one which it intended to solve. In this paper we propose an approach
for a cost effective estimation of the pertinent data. This approach is based on a sequence
of successive sensitivity analyses.
