In the factor-weighting technique, what must each factor have?

In the factor-weighting technique, each factor must have a weight and a score. This method involves evaluating different criteria or factors that are important for making decisions, such as selecting suppliers, products, or operational processes. Assigning a weight to each factor reflects its relative importance in the overall decision-making process. A score is assigned to each option being evaluated based on how well it meets the criteria defined by each factor.

The combination of weights and scores allows for a quantitative assessment that highlights the strengths and weaknesses of each option in a structured way. The weighted scores can then be summed to provide a final evaluation, making it easier to compare different choices objectively. This technique is particularly useful in complex decisions where multiple factors need to be considered.

In contrast, subjective assessments may provide personal insights but lack a structured approach; having no significance does not align with the purpose of analyzing factors for decision-making; and an equal rating does not allow for differentiation among factors based on their relevance or contribution to the overall goal.