Best-Worst Method (BWM)
| Abstract:
Prescriptive decision-making is concerned with aiding people, and organizations make (more) informed decisions. Many methods and tools have been devised to achieve this aim. Given their purpose, they are evaluated based on their usefulness rather than correctness or empirical validity. This seminar is about one of such methods called best-worst method (BWM) that is a multi-criteria decision-making method developed in 2015. It is a judgment-based method to establish the relative importance (weight) of the criteria and alternatives. Like many other methods, the inputs are the pairwise comparisons, conducted by the decision-maker(s), among the criteria and alternatives. First, the method is introduced. Then, some of the extensions and behavioural considerations of the method are discussed. Finally, some applications are shown. More information about the method can be found here: www.bestworstmethod.com.
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March 24, 2023 (Friday) Zoom link 
Associate Professor Jafar Rezaei holds a Ph.D. from Delft University of Technology (TU Delft), The Netherlands. He is currently head of the section Transport & Logistics, and a member of the management team of the department Engineering Systems and Services (ESS) at the faculty of Technology, Policy and Management at TU Delft. His research interests include decision analysis and decision-making methodologies and their applications in different fields, including logistics, supply chain management, and health. He has developed the best-wost method (BWM) and some of its major extensions. He has organized several international events in decision-making and decision analysis and has published in several operations research and operations management journals. He is the co-editor-in-chief of the Journal of Multi-Criteria Decision Analysis. Contact: j.rezaei@tudelft.nl |
