MULTI-CRITERIA DECISION ANALYSIS – PMP Tool

Multi Criteria Decison Analysis (Copyrights MyPMP)

It is a technique that analyzes risk, uncertainty, and valuation to evaluate and rank the decision making attributes & ideas in a project. It is an important decision-making tool. The other popular one is Voting. But contrary to Voting, it is slightly complex and in some places can give better results. 

Example – In the area of resource management, while hiring the team members from a pool of available resources for a new project, rather than using simple entry criteria to select the team member, a project manager can use the Multicriteria Decision Analysis technique to select better team members based on an array of criteria relevant to the project. A matrix can be built in terms of experience, technical skills, years of experience, IQ, EQ, internal or external, availability, cost, location, leadership, age, and many more factors deemed useful for the project. 

This technique is popularly used in quality management, resource management, risk management, stakeholder management, integration, and scope management.