Integer and combinatorial optimization
Integer and combinatorial optimization
Strategic Decision Making
Decision Analysis
Decision Analysis
Portfolio decision analysis with PROBE: addressing costs of not financing projects
MACMESE'10 Proceedings of the 12th WSEAS international conference on Mathematical and computational methods in science and engineering
From the Editors---Games and Decisions in Reliability and Risk
Decision Analysis
Decision Analysis
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In 2001, Congress enacted legislation that required a 2005 Base Realignment and Closure (BRAC) round to realign military units, remove excess facility capacity, and support defense transformation. The United States Army used multiple-objective decision analysis to determine the military value of installations and an installation portfolio model to develop the starting point to identify potential unit realignments and base closures, providing the basis for all recommendations. Ninety-five percent of the armys recommendations were accepted by the BRAC 2005 Commission. The army expects these recommendations to create recurring savings of 1.5 billion annually after completion of BRAC implementation. This paper offers four contributions to decision analysis literature: an instructive application of multiple-objective decision analysis methods to portfolio selection, a useful method for constructing scales for interdependent attributes, a new method for assessing weights that explicitly considers importance and variation (Swing Weight Matrix), and practical advice on how to use multiple-objective decision analysis methods in a complex and controversial political environment.