A Frame Procedure for Multi-criteria Decision-making

Abstract

This paper introduces a frame procedure for multi-criteria decision-making by using the group of methods, based on assigning weights.We have developed it by utilizing the conclusions of several authors regarding the absence of decision makers’ perfect rationality and the need to support decision-making by systematic procedures, and the conclusions of experts in practice regarding the suitability of different multi-criteria methods. The described procedures for decision analysis were taken into consideration, as well. A systematic step-by-step approach was used in complex problemsolving on the micro level (creditworthiness assessment, environmentally oriented business decision-making, process benchmarking, choice of investments) and on the macro level (measuring the globalization of national economies), as well. The described procedure, which is well supportive of requisite holism, can be adapted to the decision problem’s particularities