Decision Making Process
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Handbook on Decision Making
Author: Chee Peng Lim
language: en
Publisher: Springer Science & Business Media
Release Date: 2010-09-07
Decision making arises when we wish to select the best possible course of action from a set of alternatives. With advancements of the digital technologies, it is easy, and almost instantaneous, to gather a large volume of information and/or data pertaining to a problem that we want to solve. For instance, the world-wi- web is perhaps the primary source of information and/or data that we often turn to when we face a decision making problem. However, the information and/or data that we obtain from the real world often are complex, and comprise various kinds of noise. Besides, real-world information and/or data often are incomplete and ambiguous, owing to uncertainties of the environments. All these make decision making a challenging task. To cope with the challenges of decision making, - searchers have designed and developed a variety of decision support systems to provide assistance in human decision making processes. The main aim of this book is to provide a small collection of techniques stemmed from artificial intelligence, as well as other complementary methodo- gies, that are useful for the design and development of intelligent decision support systems. Application examples of how these intelligent decision support systems can be utilized to help tackle a variety of real-world problems in different - mains, e. g. business, management, manufacturing, transportation and food ind- tries, and biomedicine, are also presented. A total of twenty chapters, which can be broadly divided into two parts, i. e.
The Decision-Making Process of Investor-State Arbitration Tribunals
Author: Mary Mitsi
language: en
Publisher: Kluwer Law International B.V.
Release Date: 2018-12-28
In the course of a single investor-state dispute, an arbitrator may make numerous decisions, from interpreting the treaty or national laws to taking into account case law, customs and policies. In practice, this process raises important issues regarding the consistency of decisions and the predictability and legitimacy of the decision-making process in general. Investment arbitration tribunals have developed a specialised process of legal decision making adapted to the interpretational needs that arise in the context of an investor-state dispute and to the transnational characteristics of the investment arbitration framework. This is the first book to offer an in-depth analysis of the transnational characteristics of investment arbitration and to analyse the interpretive arguments of investment tribunals and the way they use treaties, precedent, policies, general principles of law and customary law in their decision-making process. Drawing on publicly available arbitral case law supplemented with personal interviews with investment arbitrators, the author touches on such concepts and practices as the following: - an overview of various decision-making genres of arbitral tribunals: attitudinal, economic, strategic and legal; - the legal argumentation triptych of language–rhetoric–dialogue; - the specific language arbitrators have developed when interpreting the law; - how arbitrators use the concepts 'standards', 'rules', 'principles' and 'rights'; - the importance of the legal reasoning of arbitral awards and the role of rhetoric therein; - concepts of 'acceptability', 'audience' and 'legitimacy'; - limitations of the public international law interpretive methodology enshrined in the Vienna Convention; - interpretation of precedents, customary law, general principles of law and policies; - the way national and international legal orders interact in the context of interpretation; and - how decision-making is connected to the issues of predictability, consistency and the rule of law. The core of the book proposes a novel, full- edged dialogical network theory for analysing the interpretation process. As an exemplary demonstration of developing theory to keep up with practice, this unique book provides a deeply engaged means for enhancing the practice of international arbitration. Its introduction of a new field of interdisciplinary analysis employing legal argumentation theories is sure to provide inestimable guidance for institutions and policymakers, especially in light of recent proposals for the creation of a permanent investment arbitration court. Given that unveiling the legal decision-making process is critical for the well-being of the whole dispute resolution procedure, and that being aware of how arbitrators interpret the law can constitute a roadmap for counsel's arguments and approaches when dealing with cross-border disputes, the topic of this book is relevant for both academics and practitioners, and its signifcance can only grow as recourse to investor-state arbitration continues to expand.
Progressive Decision-Making Tools and Applications in Project and Operation Management
In today's complex operational environments, leveraging advanced decision-making tools becomes imperative, particularly in uncertain scenarios. This book deepens the nuances of employing state-of-the-art decision-making methodologies within various industrial sectors for optimal project and operations management. The essence of integrating these advanced tools is to equip professionals with pivotal insights for cost-effective management and to strategize against potential operational shortcomings. Furthermore, the methodologies elucidated provide a robust foundation for crafting informed, risk-centric strategies that uphold the integrity of operations across diverse application domains. Readers will discover a rich tapestry of methodologies tailored for engineers and analysts. Deeply rooted in mathematical modeling, these approaches are complemented by human judgment and participation. Fundamental attributes of these methods include the evaluation of alternatives, benchmarking againstcriteria, assigning scores based on varying requirements, and assigning weights to denote the significance of individual criteria vis-à-vis others. The book embarks on a structured journey, commencing with a comprehensive review of evolving decision-making methodologies in project and operations management, enriched by metadata analysis. Subsequent chapters are meticulously organized, each spotlighting a distinct approach. Topics span foundational concepts in decision-making, the nuances of performance metrics in the digital age, and the implications of emerging technologies on operations management. Targeted towards professionals and researchers immersed in project and operations management, this work will also immensely benefit postgraduate and undergraduate students in related fields. Moreover, its relevance extends to professionals across diverse sectors, from oil and gas, marine and offshore, and renewable energies to chemical complexes, manufacturing, and healthcare systems.