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W3_Nasser_ Replacing My X-Terra Car Decision Making

1. Problem Definiton 

Following my recently taken decision for building a new house, a part of my plan is to minimize my expenses. My current car is X-Terra model. It is a big 4WD car consumes more fuel and with high spare parts and service rate I see it will save me money if I replace it with another car (smaller one). 

2. Identify the Feasible Alternative

-         Do not replace My X-Terra Car
-         To replace my current X-Terra to a NEW smaller car
-         To replace my current X-Terra to a USED smaller car
3. Development of the Outcome for Alternative
I am going to apply Multi Attribute Decision Making (MADM) technique for choosing which car, new or old one, will be my best choice to replace my current X-Terra.

Figure1: Decision Making Process

4. Selection Criteria:

The following criteria will be considered:
  • Price
  • Advanced Payment
  • Down Payment/ month
  • Family Car
  • Nice look
  • Spare Part Cost
  • Service Cost/5000 Km
  • Comfort over long distances

Table1: Criteria Analysis Comparison

5. Analysis and Comparison of the Alternative:

Using Grid Analysis, which is a useful technique for making a decision and it is most effective where you have a number of good alternatives and many factors to take into account, the comparison of the above criteria are ranked (3=best,2=better &/or Yes & 1=worst &/or No) as shown below:

Table2: Weight Assessment

 6. election of the Preferred Alternative

From the above analysis, replacing my current X-Terra Car with a NEW smaller Car is the best choice of decision.

7. Performance Monitoring and the Post Evaluation of Result

Both options, replacing my current X-Terra with a new or old car, could be acceptable since they both are almost achieve my preferred target (MINIMIZING COST).

8. Reference

1. Fishbein Models
https://youtu.be/JL1UFF-HJlQ 

2. Multi-Attribute Decision Making from the GPCCAR
http://www.planningplanet.com/guild/gpccar/managing-change-the-owners-perspective Figures 8-14 

3. Multiple Attribute Decision Making Based on Cross-Evaluation with Uncertain Decision Parameters
https://www.hindawi.com/journals/mpe/2016/4313247/

4. Grid Analysis. (n.d.). Retrieved from
http://www.mbatools.co.uk/Toolbox/DecisionMaking/gridanalysis.htm

Comments

  1. Dr. PDGNovember 21, 2017 at 5:34 AM

    OUTSTANDING case study Nasser and you applied the MADM method perfectly, but couldn't you find just as good an example for your COMPANY? ;-)

    How are you going to generate a favorable RoTI if you use PERSONAL examples and not work related examples?

    Not a problem this time but I do hope you don't forget that one of the major objectives of this course is to be able to document more savings than the course cost?

    BR,
    Dr. PDG, Jakarta

    ReplyDelete

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