Question

1. Multi-criteria analysis is a tool that helps you compare “distinctly different” options.

   TrueFalse

2. Bookmark question for later

   Which of the following is not one of the four reasons to include a multi-criteria analysis in your toolkit?

   a. Comprehensiveness b. Intuitiveness c. Quantifiability d. Applicability e. Disciplined

3. Bookmark question for later

   Which step in the process helps you determine how important each criterion is?

   a. Decide on criteria b. Set weights c. Define scoring system d. Evaluate options e. Calculate results

4. Bookmark question for later

   To calculate results you multiply the score for each criterion by the associated weight and add up the results.

   TrueFalse

5. Bookmark question for later

   Which step in the process asks you to fill in your comparison matrix?

   a. Decide on criteria b. Set weights c. Define scoring system d. Evaluate options e. Calculate results

Answer 1

Ans- Yes, it is True. Multi-Criteria Analysis is a tool that helps to compare "distinctly different" options. It plays as the key role in the multi-step strategic sourcing process. This tool is practically used by everyone in the daily life. It comprises of the five steps- deciding the criteria, set the weights, defining the scoring system, Evaluate Options and Calculate Results.

Ans- (a) Comprehnsiveness is the reason which is not in one of the four reasons to comprise the multi-criteria analysis.

Ans- The Most Important Step in the Multi- Criteria Analysis Process is (b) Set Weights. Assigning the Weights to each criterion can be done in two ways-

• By distributing the 10 points among the criteria, based on the consensus and the team discussion.
• By assigning the each number weights by the numbers for each criteria for the composite team weighting.

Ans- It's True. To Calculate the results, you multiply the each score criteria by the weights and adds up the results for each option. The Option with the Highest Score is not necessary to be choosen but the relative scores can generate meaningful discussion and can lead the team towards the consensus.

Ans- (d) Evaluate Options Step in the Process asks you to fill in your comparison matrix. This Process comprises of evaluating the each choice against the criteria. This can be done in three ways- (i) By Establishing the Rating Scale. (ii) Rank Order Option. (iii) Pugh Matrix.

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