Produce a report of a minimum of 2,500 words that addresses the following questions:
1. Discuss the importance of decision-making and the application of decision analysis.
2. Identify and outline a decision problem relating to your work, personal experience or an external organisation, which involves multiple objectives. Typical examples might be choosing, a computer system, a raw materials supplier, a software package or a new service provider. The outlined decision problem should have a clear business case. Your decision problem must not be a replication of the examples in the core text book or the examples which have been used in lectures and tutorials.
3. Apply the Simple Multi-Attribute Rating Technique (SMART) to the outlined decision problem. Each stage of the analysis should be clearly defined and presented. DO NOT UNDERTAKE SMARTER ANALYSIS OR USE ROC WEIGHTINGS OR SET SMART OBJECTIVES
4. Discuss and detail the strengths and limitations of your analysis in the context of your decision problem.
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