Modifications in interpretive structural modelling methodology to enhance its applicability in group decision process and power of discrimination
by Dhananjay A. Jolhe; A. Subash Babu
International Journal of Business Excellence (IJBEX), Vol. 7, No. 3, 2014

Abstract: Decision making plays a prominent role in the personal and professional life of every human being. Though some of the decision problems can be modelled easily using appropriate mathematical tools, systematic structural modelling is required for complex problems due to cognitive limit of human being. Structural modelling has acquired immense importance in modelling the mental models. Interpretive structural modelling (ISM) is a widely used structural modelling technique to establish hierarchical relationships within a set of elements based on the information obtained through group exercise or otherwise. Since its inception in 1974, ISM has been applied in numerous fields of study. However, like any other method necessitating human involvement and judgment to a significant level, ISM is also found suffering from certain drawbacks. These limitations surface to a greater degree when ISM is used involving a group of analysts who are familiar with the problem at hand. In the present paper, these limitations are highlighted along with their deleterious effects and also improvements are suggested to overcome these limitations. The applicability of these improvements is demonstrated with the help of a real life case study.

Online publication date: Sat, 07-Jun-2014

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