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Transparency with Multi-Criteria Decision Analysis
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THE CHALLENGE: Sound business decisions needed to be made while conflicting criteria for evaluating strategic alternatives were being presented.
THE APPROACH: A one-day decision framing brought together significant members of the project team including technical, financial, regulatory and legal experts. The Multi-Criteria Decision approach focused on identifying and weighting objectives. Exercises were used to help clarify the objectives and criteria for strategy evaluation, estimate the importance that each criterion should carry and identify the degree of consensus. Survey techniques were used to develop a statistical model that calculates the weights given to the criteria.
THE RESULT: ARCADIS helped identify an alternative that in the short term cost $10 million more than the least-cost alternative but in the long term offered the potential to generate more than $20 million in revenue. The model results helped to convince management, regulatory agencies and project stakeholders that the optimum, most cost-effective and protective alternative had been identified. The alternative has been accepted by the environmental agency as part of the record of decision for the site.
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