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A trade study or trade-off study, also known as a figure of merit analysis or a factor of merit analysis, is the activity of a multidisciplinary team to identify the most balanced technical solutions among a set of proposed viable solutions (FAA 2006).

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A trade study or trade-off study, also known as a figure of merit analysis or a factor of merit analysis, is the activity of a multidisciplinary team to identify the most balanced technical solutions among a set of proposed viable solutions (FAA 2006).
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https://en.wikipedia.org/wiki/Trade_study
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These viable solutions are judged by their satisfaction of a series of measures or cost functions. These measures describe the desirable characteristics of a solution. They may be conflicting or even mutually exclusive.
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Trade studies are commonly used in the design of aerospace and automotive vehicles and the software selection process ... to find the configuration that best meets conflicting performance requirements.
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