A Multi-Criteria Analysis (MCA) is when a project is evaluated by more than just monetary terms. It is a form of appraisal that, in addition to monetary impacts, measures variable such as material costs, time savings and project sustainability as well as the social and environmental impacts that may be quantified but not so easily valued.
"Analysis which is carried out in monetary terms does not usually, in practice, present the analysts with problems of choosing between the interests of different groups in society. A Cost-Effectiveness appraisal may be comparing options with slightly different outputs, but these differences will typically be weighted by decision makers at a later stage. The valuations used in cost-benefit analysis will include distributional judgements, but these will have been determined at an earlier stage.
Do you have an example of where this option has been used?
Do you have any advice for CHOOSING or USING this option?
- Multi Criteria Analysis: A Manual : An extensive guide on this option and how it can be applied.
Department for Communities and Local Government (2009), Multi-criteria analysis: a manual. Communities and Local Government Publications, London. Retrieved from http://www.communities.gov.uk/documents/corporate/pdf/1132618.pdf