Engineering Economic Analysis of Alternatives Using Benefits as Criteria for Evaluation.
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This research develops an effective procedure for the engineering economic analysis of alternatives using their different or unequal benefits as the decision criteria. The procedure calls for the determination of three numerical values. The Relative Weights show the relative importance of the benefits. The Delphi Technique is used to obtain the assignments of the Relative Weights from a group of experts, and convert them to a general consensus of expert opinion. The Alternative Ratings are numerical values from 0.00 through 10.00, that reflect how well each alternative satisfies each benefit. Modified author abstract
- Administration and Management
- Economics and Cost Analysis