%0 Journal Article
%T A Decision-Analytic Feasibility Study of Upgrading Machinery at a Tools Workshop
%A M. L. Chew Hernandez
%A E. K. Velazquez Hernandez
%A S. Leon Dominguez
%J Engineering, Technology & Applied Science Research
%D 2012
%I 
%X This paper presents the evaluation, from a Decision Analysis point of view, of the feasibility of upgrading machinery at an existing metal-forming workshop. The Integral Decision Analysis (IDA) methodology is applied to clarify the decision and develop a decision model. One of the key advantages of the IDA is its careful selection of the problem frame, allowing a correct problem definition. While following most of the original IDA methodology, an addition to this methodology is proposed in this work, that of using the strategic Means-Ends Objective Network as a backbone for the development of the decision model. The constructed decision model uses influence diagrams to include factual operator and vendor expertise, simulation to evaluate the alternatives and a utility function to take into account the risk attitude of the decision maker. Three alternatives are considered: Base (no modification), CNC (installing an automatic lathe) and CF (installation of an automatic milling machine). The results are presented as a graph showing zones in which a particular alternative should be selected. The results show the potential of IDA to tackle technical decisions that are otherwise approached without the due care.
%K decision analysis
%K equipment replacement
%K integral decision analysis
%K utility
%U http://www.etasr.com/index.php/ETASR/article/view/139/116