Multi-Criteria Decision Analysis using Monte Carlo Simulation
Timothy J. Havranek, MBA, PMP, Managing Principal at Optima Analytics, Inc.
Multi-criteria decision analysis (MCDA) holds much promise for improving decision-making in all areas of business and government by helping stakeholders reach agreement on creative, effective, efficient, and appropriate solutions. For corporations, the process can help identify investment strategies that increase revenue and reduce costs while improving environmental, social, and governance metrics. For governmental organizations, MCDA…