Review of Multi-criteria Optimization Methods – Theory and Applications

A review of multi-criteria optimization concepts and methods is presented. The techniques provide solutions to the problems involving conflicting and multiple objectives. Several methods based on weighted averages, priority setting, outranking and their combinations are employed. The application and procedure in respect to material selection is presented. It is observed from the literature that no single approach is superior, rather, the selection of a specific method depends on the type of information that is provided in the problem, the designer"s preferences, the solution requirements and the availability of software adopted.