The value statement

Frequently there exists an insufficient amount of actual data upon which to base a decision. In this paper a method is presented whereby the subjective opinions of a group of qualified persons are utilized to quantify the relative importance of a finite number of parameters or objectives. A means of testing the consistency among the judges is given which allows the decision maker to determine the validity of the opinions gathered. The application presented here is in the area of Multiple Incentive Contracting. Namely, a method is proposed to facilitate the answering of the question, “What is the value to the purchaser of an incremental change in the performance of a system?” Such a vehicle is not essential to the methodology proposed.