To monitor the progress towards business excellence, thousands of organizations across the world use self-assessment on a regular basis. There are a few popular business excellence models that provide standard criteria against which an organization can measure its performances. European...

Decision Analysis can not be done without some reflection on the normative grounds of the analysis. The aim of decision analysis is to recommend an action. This recommendation constitutes a normative act. There are mainly two economic decision analyses: Cost-benefit analysis and...

Several studies which were conducted to examine the potential benefits of the implementation of Flexible Manufacturing Systems (FMS) concluded that the advantages of FMS implementation are very large. The implementation of FMS is often determined by its embedded software. In an FMS, the software...

The best-value system is viewed as a balance between the consideration of price and qualifications. The low-bid ethod fails to serve the public interest because the lowest offer may not result in the lowest overall cost to the public. Best-value contracting strategy aims at using price and other...

In decision-making involving multiple criteria or attributes, the attributes are often divided into core and non-core attributes. A dominance principle is formulated in terms of core attributes, and this principle is applied whenever it is applicable. If, however, the dominance principle defined...

Z Utility Theory refers to a class of nonlinear utility functions for solving Risk and Multiple Criteria Decision-Making problems. Z utility functions are hybrids of additive and nonadditive (nonlinear) functions. This paper addresses the concepts and assessment methods for the additive part of...