AHP Meaning and
Definition
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AHP stands for Analytic Hierarchy Process. It is a multi-criteria decision-making method developed by Thomas L. Saaty in the 1970s. AHP is a widely used technique in fields such as operations research, decision analysis, and strategic planning. It provides a structured approach for decision-makers to evaluate and prioritize alternatives based on multiple criteria and their relative importance.
The AHP involves breaking down complex decision problems into a hierarchical structure of criteria and sub-criteria. Decision-makers assign numerical values, typically in the form of pair-wise comparisons, to determine the relative importance or preference of criteria and alternatives. AHP uses the pairwise comparisons to calculate weights for each criterion, which reflect their relative significance.
The method also allows for consistency checks, ensuring that decision-makers provide coherent judgments when making pair-wise comparisons. By carefully comparing the importance of criteria and the performance of alternatives, decision-makers can make informed decisions and weigh the trade-offs between different options.
AHP is often employed in situations where the decision problem involves conflicting goals or criteria that are difficult to quantify. It provides a transparent and rational approach to decision-making by breaking complex problems into more manageable parts and considering subjective inputs efficiently. AHP has found applications in various fields, including project selection, resource allocation, risk analysis, supplier evaluation, and product development.
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