This is a Multi-Criteria Analysis Tool which is an effective tool for making decisions because it analyses and assesses a number of possibilities or alternatives systematically against a set of predetermined criteria.

Multi-Criteria Analysis is a decision-making technique that takes into account multiple criteria or factors when evaluating alternatives or options/scenarios. It helps decision-makers consider various dimensions or perspectives simultaneously, enabling a more comprehensive assessment of the available choices.

Key steps involving in conducting a Multi-Criteria Analysis are as following -

1. Identify the Decision Problem: Clearly define the decision problem and the objectives or goals you want to achieve. This step involves understanding the decision context, the stakeholders involved, and the available alternatives.
2. Define Evaluation Criteria: Identify the criteria or factors that are relevant to the decision problem. These criteria should be measurable, specific, and represent the objectives or concerns of the decision-makers. Examples of criteria include cost, time, quality, environmental impact, and stakeholder satisfaction.
3. Weight the Criteria: Assign weights or importance values to each criterion to reflect their relative significance in the decision-making process. The weighting process can be based on expert judgment, surveys, or other methods that capture the preferences of the decision-makers.
4. Assess Alternatives: Evaluate each alternative or option against the identified criteria. This step involves collecting data and information on how well each alternative satisfies each criterion. The information can be obtained through research, surveys, experiments, or other data collection methods.
5. Normalise the Data: Normalise the data to ensure that different criteria are on a comparable scale. This step is necessary when the criteria are measured in different units or have different ranges. Normalisation helps prevent one criterion from dominating the decision simply because it has a larger scale.
6. Evaluate Alternatives or options/scenarios: Apply a decision rule or method to assess the performance of each alternative. Several methods can be used, such as weighted sum models, weighted product models, or more advanced techniques like Analytic Hierarchy Process (AHP).
7. Analyse Results and Sensitivity: Analyse the results of the evaluation and identify the most preferred alternative(s). Conduct sensitivity analysis to examine how changes in the criteria weights or alternative scores affect the rankings or recommendations.
8. Make a Decision: Based on the analysis and results, make an informed decision or recommendation. The decision-makers can consider the results of the Multi-Criteria Analysis along with other relevant information or constraints to make the final decision.

Multi-Criteria Analysis is a powerful technique that helps decision-makers handle complex decision problems involving multiple criteria. It provides a structured and systematic approach to decision-making, facilitating a more transparent and inclusive process.