Tuesday, March 10, 2020

MULTI-CRITERIA DECISION ANALYSIS (PMP Tools)



Description


Multi Criteria Decison Analysis (Copyrights MyPMP)
It is a technique that analyzes risk, uncertainty, and valuation to evaluate and rank the decision making attributes & ideas in a project. It is an important decision-making tool. The other popular one is Voting. But contrary to Voting, it is slightly complex and in some places can give better results. 

Example - In the area of resource management, while hiring the team members from a pool of available resources for a new project, rather than using a simple entry criteria to select the team member, a project manager can use Multicriteria Decision Analysis technique to select better team members based on an array of criteria relevant to the project. A matrix can be built in terms of the experience, technical skills, years of experience, IQ, EQ, internal or external, availability, cost, location, leadership, age, and many more factors as deemed useful for the project. 

This technique is popularly used in quality management, resource management, risk management, stakeholder management, integration, and scope management. 

It belongs to the tool category - Decision making


Where it is Used


Process Groups

Planning
Executing
Monitoring & Controlling

Knowledge Areas

Project Quality Mgmt.
Project Resource Mgmt.
Project Integration Mgmt.
Project Stakeholder Mgmt.
Project Risk Mgmt.
Project Scope Mgmt.

Activities

   Plan Quality Management
   Plan Risk Responses
   Collect Requirements
   Define Scope
   Manage Quality
   Acquire Resources
   Perform Integrated Change Control
   Monitor Stakeholder Engagement

Process Group
Knowledge Area
Activity
Planning
Project Quality Mgmt.
Plan Quality Management
Project Risk Mgmt.
Plan Risk Responses
Project Scope Mgmt.
Collect Requirements
Define Scope
Executing
Project Quality Mgmt.
Manage Quality
Project Resource Mgmt.
Acquire Resources
Monitoring & Controlling
Project Integration Mgmt.
Perform Integrated Change Control
Project Stakeholder Mgmt.
Monitor Stakeholder Engagement

 

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