Foundations of Best-Worst Method (an MCDM method)

Abstract

In this seminar, first the philosophy behind the best-worst method (BWM), a multi-criteria decision-making (MCDM) method developed in 2015 is discussed. Then, it is shown how an MCDM problem can be formulated and solved by BWM. More specifically the non-linear and linear models of BWM are presented with some examples. Then, the way we can check the consistency and concentration of the findings (weights of the criteria or overall value of alternatives) are discussed. Finally, some salient features of the method and practical considerations when using the method are argued.

Bio

Jafar Rezaei is associate professor and head of section Transport & Logistics at the faculty of Technology, Policy and Management (TPM), Delft University of Technology (TU Delft), The Netherlands. He did his Ph.D. at TPM, TU Delft and has a background in Operations Research. He has published on different topics including MCDM in several prestigious journals. He serves as editorial member of several leading journals. In 2015, he developed the Best Worst Method (BWM), which has become a popular MCDM method among researchers and practitioners.