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A Modified Weighted Sum Method Based on the Decision- maker’s Preferred Levels of Performances

Dragisa STANUJKIC1,*, Edmundas Kazimieras ZAVADSKAS2
1 Faculty of Management Zajecar, Megatrend University Belgrade,
Park Suma “Kraljevica” bb, 19000 Zajecar, Serbia
2 Research Institute of Smart Building Technologies,
Vilnius Gediminas, Technical University,
Sauletekio al. 11, 10223, Vilnius, Lithuania

* Corresponding author

Abstract: This paper proposes a modified version of the Weighted Sum method that takes into account decision-maker preferences and provides a possibility of higher interactivity in the selection of the most suitable alternative. The proposed approach uses a specific normalization procedure, which takes into account decision-maker preferences and also introduces a compensation coefficient that enables the decision-maker to make choices between alternatives with higher overall performance ratings and alternatives that better match the decision-maker preferences.

Keywords: MCDM, Multiple Criteria Decision Making, preferred performance ratings, Weighted Sum Method, normalization procedures, ideal point approach.

>>Full text<<
Dragisa STANUJKIC, Edmundas Kazimieras ZAVADSKAS, A Modified Weighted Sum Method Based on the Decision-maker’s Preferred Levels of Performances, Studies in Informatics and Control, ISSN 1220-1766, vol. 24 (4), pp. 461-470, 2015.