Using PROMETHEE Method for Multi-Criteria Decision Making: Applications and Procedures

Abstract

PROMETHEE (Preference Ranking Organization Method for Enrichment Evaluation) is one of the main MCDM methods helping decision-makers to investigate a set of alternatives considering different criteria. This method is particularly useful when the decision-makers need to compare a set of alternatives based on multiple criteria. The PROMETHEE method has been applied in various fields, including business, finance, hydrology, and water management. In business, for instance, PROMETHEE can be used to evaluate different investment opportunities based on various criteria such as return on investment, risk, and strategic fit. In water management, PROMETHEE can be used to evaluate alternative strategies for water allocation or pollution control, considering factors such as environmental impact, cost, and social acceptability. Different versions of PROMETHEE have been developed, each with its own specific characteristics and requirements. This paper describes the steps of the PROMETHEE I and II procedures, which are among the most widely used versions of the method. The PROMETHEE I procedure is used for ranking alternatives based on a single criterion, while PROMETHEE II is used for ranking alternatives based on multiple criteria.

Keywords: MCDM, PROMETHEE, Decision Making, Multi-Criteria Decision-Making