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Project Decisions by Michael Trumper, Lev Virine

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CHAPTER 19

Making a Choice with Multiple Objectives

We recognize that accumulation of greenhouse gases in the Earth’s atmosphere poses risks…. But the actions must consider the costs and the uncertainties that remain.

—REX TILLERSON

CHAIRMAN AND CEO, EXXONMOBIL

Multi-criteria decision-making is a process that helps you incorporate conflicting objectives into your decision-making. The mental strategies we use to make choices with multiple objectives are the recognition, lexicographic, and elimination-by-aspect heuristics, among others. There are two approaches to multi-criteria decision-making: (1) convert all nonmonetary criteria to monetary ...

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