2023 DAS-SDP AWARD | Finalists Presentations
October 11, 2023 from 8:00 am PT - 9:30 am PT
We are thrilled to extend to you a special invitation to the finalist presentations of the DAS - SDP Practice Award. This engaging session will provide valuable insights into the three exceptional projects that have earned the distinction of being finalists for this year's award.
The Decision Analysis Practice Award is a collaborative sponsorship between the Decision Analysis Society and the Society of Decision Professionals. Each year, it recognizes the most outstanding application of decision analysis, as assessed by a panel of esteemed members from both organizations. The announcement of the winner is scheduled to take place during the 2023 INFORMS conference, happening from October 15-18, 2023 in Phoenix, Arizona.
We are proud to host this session through an open webinar format. This approach reflects the dual-society essence of the award and serves as a platform to extend the reach of this esteemed accolade to our valued communities within the Decision Analysis Society (DAS) and the Society of Decision Professionals (SDP).
2023 SDP DAS PRACTICE AWARD COMMITTEE
• Gilberto Montibeller | Co-Chair
• Nadia Papamichail | Co-Chair
• Laura Keating
• Patrick Leach
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MEET OUR FINALISTS:
TITLE: A Decision Support for Portfolio Capital Allocation for Internal Capital Market at Dow Chemicals
BY: Saurabh Bansal
This project involved a decision analysis application of portfolio management for the $400 annual Internal Capital Allocation Program at Dow Chemicals. The total amount requested across all projects exceeded $600 million, which led Dow to make the project allocation decisions based on cost estimates provided by managers for individual projects. However, this motivated managers to systematically provide low estimates for costs. There was also no incentive for managers to return surplus amount if projects finished with a surplus. We developed a data-driven near optimal mechanism that addressed these issues. It (i) provided a quantification for the variability in actual project costs, (ii) This variability provided a basis to determine a strategic reserve for potential cost overages, (iii) encouraged managers to truthfully report cost estimates. The mechanism was implemented with success at the firm.
TITLE: A Multi-attribute Decision Model to Evaluate Potential Investments in Near-Earth Object Detection Technologies
BY: Asa Palleyand Team Members Thomas S. Palley, Victor Richmond R. Jose, Ralph Keeney and Mario Juric
Asteroids and other near-earth objects (NEOs) pose a significant threat to our planet. Advance detection is essential to respond to any object on a collision course, but detection and tracking technologies require substantial investments. We provide a multi-attribute utility framework to analyze which NEO detection technologies offer the best decision alternatives using a stylized model of the uncertainties, objectives, and tradeoffs inherent to decisions involving low-probability, high-consequence events.
TITLE: Fostering participation and knowledge construction processes in real settings through decision analysis and collaborative value modelling
BY: Mónica Duarte Oliveira and Team Members Carlos Antσnio Bana e Costa and Ana Vieira
To address the challenge of effectively engaging many stakeholders and experts in real-world decision analysis processes, both for knowledge construction and for stakeholder engagement, we have developed the Collaborative Value Modeling (CVM) framework. The CVM combines large-scale participatory Web-Delphi processes with smaller-scale decision conferencing or workshop processes to promote agreement in different modeling stages of multicriteria decision analysis (MCDA).