METHODOLOGIES

The MARA research teams will apply decision-analytic methodologies to allocate resources efficiently within the organisations of our research clients. Decision-analytic methods are model-based approaches which structure decision problems and in relation to which subjective information is indispensable. These resource allocation tasks are usually ill-structured problems with conflicting objectives which present uncertainty as to the consequences of different options.

Methods to address decisions with multiple objectives:

• Multiple-Criteria Decision Analyses - Selecting Alternatives
• Multiple-Criteria Decision Analyses - Resource Allocation

Methods to address uncertainty:

• Decision Trees/Influence Diagrams
• Monte-Carlo Simulations
• Bayesian Networks
• Scenario Analysis

To facilitate the merger of some of these methodologies, MARA team members will rely on the socio-technical approach, developed at the LSE School of Decision Analysis:

• Decision Conferencing

The application of these methodologies is not limited to companies only. They can be used to aid decision-makers in NGOs or governmental organisations as well.