|Saturday, February 22|
|CS24 Using Graphs in Decision Making and Quality Control||
Sat, Feb 22, 10:45 AM - 12:15 PM
Improved Decision-Making When Balancing Multiple Objectives (302697)*Christine Anderson-Cook, Los Alamos National Laboratory
Lu Lu, University of South Florida
Keywords: trade-offs, Pareto front, multi-faceted optimization
When we are faced with choosing the best solution for a problem, the right solution is obvious if there’s only a single objective. However, in practice, decisions are rarely that simple – often there are several competing objectives that must be balanced, and different team members value objectives differently. This talk will provide a formal approach for improved decision-making in these situations. We consider the Pareto front approach, which begins with an objective phase that eliminates all non-rational candidates from further consideration based on their quantitative criterion values. In the second subjective phase, the practitioners’ priorities of the decisions are incorporated through the use of graphical tools that allow comparison of the remaining alternatives based on their relative performance. The tools also explore which desirability function weights different solutions are best for, and how the solutions compare to the best available choice for a given set of weights. The methods will be explained and illustrated with several examples with different numbers of competing objectives. Available software developed by the authors will be used to demonstrate the methods.