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environmental factors, and their changes; technical and technological data; and information
from diverse stakeholder groups with different goals. When a decision-making process
starts and we have to analyse diverse data, sometimes hardly fit for comparison, we want
adequate tools, which help to consider our changing environment, to identify the weights of
the defining criteria, and to reconcile economic, environmental, technological, social and
other aspects. The information is abundant and often contradictory, thus only modern
multiple criteria evaluation methods, based on the mathematical analysis of data, and
integrated software applications make its assessment possible.
2. Multiple criteria analysis methods, their application
When it comes to handling of diverse practical tasks—notably to building of development
scenarios, strategic scenarios and investment projects—one must consider economic,
environmental, technological, social and other aspects, assess possible alternatives and rank
them in the selected order of priority (Figueira
et al.
2005). It may be selection of the best
investment ortechnological project, analysis of alternative scenarios, environmental
assessment of different regions in a quest for investment opportunities, etc. More and more
topics offer decision-making based on multiple criteria analysis methods. Effective decisions
are of particular importance in investment projects aiming to ensure provision to the public,
in projects financed by national authorities, and in cases that warrant objectivity,
transparency and minimised influence of stakeholders.
A number of multiple criteria analysis and evaluation methods have been developed, and are
used, worldwide. The newest multiple criteria evaluation methods, above all, facilitate
assessment and comparison of objects described by both quantitative and qualitative criteria,
by indicators expressed in different units of measurement (Scholz & Tietje, 2002).
The scientists
Gutsche, Zimmermann
built and described typical systems of indicators, which can be used in
multiple criteria analysis methods to measure the differences of quantity, quality and market
conjuncture between a comparable object and a valuated object (Zimmermann
& Gutsche,
1991). Ming-Te Lu developed an expert system, which uses a system of criteria and helps to
select the most profitable or adequate real estate projects (Lu & So, 2005). Hwang and Quigley
suggest a price assessment model based on the analysis of hedonic and sales comparison
approaches; the model helps to estimate an efficient price indicator (Hwang
& Quigley, 2004).
Multiple criteria decision-making methods were used for evaluation of external services
available to companies (Almeida, 2005), for evaluation of risk management and management
of water supply systems (Morais & Almeida,
.
2007), for project risk assessment (Zeng
et al.,
2007), for risk evaluation in natural gas supply systems (Brito & Almeida, 2008), and to
reconcile infrastructure investments with environmental problems (Higgins et al
.
, 2008).
Multiple criteria methods are an attempt to choose an optimal decision when the alternative
decisions must be concurrently assessed based on several contradictory criteria. Multiple
criteria analysis methods view alternatives in an integrated manner: they deal with
quantitative (operational territory, number of objects, cost, expenses, production capacity, etc.)
and qualitative (legal acts, regulations, restrictions, stakeholder influence, technological
novelty, compliance with environmental requirements, level of innovation, etc.) criteria of the
current market conjuncture that describe the value of the item in question. Many current tasks
related to energy strategy, development and technology selection are multiple criteria tasks.
Sources of literature, which discuss multiple criteria evaluation methods, also suggest
conditional classifications: methods are classified according to the sets of alternatives, the
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