monCriteriaanalyysi

monCriteriaanalyysi is a Finnish term that translates to multicriteria analysis or multicriteria decision analysis (MCDA). It is a systematic approach used to evaluate and rank a set of alternatives based on multiple, often conflicting, criteria. The goal of monCriteriaanalyysi is to assist decision-makers in choosing the best option when simple optimization based on a single factor is not sufficient.

The process typically begins with defining the problem and identifying the decision-maker's objectives. Then, relevant criteria are established, which are the attributes or characteristics used to evaluate the alternatives. These criteria can be quantitative, such as cost or performance, or qualitative, such as environmental impact or aesthetic appeal. Alternatives are the different options or courses of action being considered.

A crucial step in monCriteriaanalyysi is assigning weights to the criteria, reflecting their relative importance in the decision. Various methods exist for weight elicitation, including direct questioning, pairwise comparisons, or analytic hierarchy process (AHP). Subsequently, each alternative is scored or evaluated against each criterion.

Finally, the scores and weights are combined using a chosen aggregation method to produce an overall score for each alternative. Common aggregation methods include the weighted sum model, the TOPSIS method, or ELECTRE. The alternatives are then ranked according to their aggregate scores, providing a structured basis for decision-making. MonCriteriaanalyysi is applied across various fields, including environmental management, project selection, and policy analysis.