Transcript course description presentation

MHY530E DECISION
MAKING TECHNIQUES
Dr. Y. İlker TOPCU
www.ilkertopcu.net www.ilkertopcu.org www.ilkertopcu.info
www.facebook.com/yitopcu
twitter.com/yitopcu
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Course information
 Credits:
3+0
 ECTS Credits: 7.5
 Type:
Elective
 Language:
English
 Web site:
web.itu.edu.tr/topcuil/ya/MHY530E
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Course description
 Multiple Criteria Decision Making
 Structuring the problem (Value Hierarchy, Cognitive Mapping)
 Constructing the model (Scales, Normalization, Prioritiz’n)
 Analyzing the problem
 Analytic Hierarchy Process / Analytic Network Process
 Elementary methods
 MAVT, SMARTS, SAW, WP, TOPSIS
 Outranking methods (PROMETHEE, ELECTRE)
 Group decision making (Social choice)
 Decision analysis
 Decision tables / payoff matrices
 Decision trees
 Utility theory
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Course objectives
1. to provide students practical techniques and decision
support tools those help them to solve decision
problems
2. to enable students to integrate judgments with other
types of information in a logical and defensible
manner
3. to improve students’ decision making skills, their
ability to analyze problems systematically, and their
confidence in their own decision making
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Course learning outcomes
Students who pass the course gain knowledge, skill and
competency in the following subjects:
1. identifying common errors and traps that prevent
them from making effective decisions
2. learning how decision support systems relate to
decision support
3. using a range of decision making techniques to
improve the effectiveness of their decision making,
4. finding (choosing, ranking, or classifying) the best
alternative for making a decision
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References
Web site of the course
 Up-to-date lecture notes and supplements
 Solutions to exams and homework
Books
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Taylor B.W. 2012. Introduction to Management Science, Pearson
Education Inc., New Jersey.
Render B., Stair Jr R.M., and Hanna M.E. 2011. Quantitative Analysis for
Management. Pearson Education Inc., New Jersey.
Goodwin P., Wright G. 2010. Decision Analysis for Management Judgment,
John Wiley & Sons, New York.
Saaty T.L. 2001. Decision Making for Leaders. RWS Publ., Pittsburg.
Saaty T.L. 2005. Theory and Applications of the Analytic Network
Process. RWS Publ., Pittsburg.
Vincke, Ph., 1992. Multi Criteria Decision Aid. John Wiley & Sons, Inc.,
West Sussex
Web sites of other courses
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Assessment Criteria
 Final exam (30%), Midterm exams (40%),
Term project (30%)
 Exams will be either “take home” or “open book”
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Exams
Midterm exam 1
 March 10, Take home
Midterm exam 2
 April 21, Take home
Final exam
 At school, Open book
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Term Project
 Structuring, modeling, and analysing a multicriteria
managerial decision making problem.
 Business and governmental problems are welcome.
Personal problems can not be used for the term
project!
 Groups will present their projects at the last week.
IMPORTANT DATES
 Deadline for 1st submission (proposal):
 Deadline for 2nd submission (literature survey):
 Deadline for final submission (report):
 Presentations:
March 3
March 24
April 28
April 28, May 5
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Cheating and Plagiarism
 Do not!
 Studying together to understand the material is fine,
but the work you hand in is to be your own.
 No cheating will be tolerated: A letter grade of F will
be given!
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Schedule
DATE
Feb. 3
Feb. 10
Feb. 17
Feb. 24
Mar.03
Mar.10
Mar.17
Mar.24
Mar.31
Apr. 7
Apr. 14
Apr. 21
Apr. 28
May.05
SUBJECT
Introduction to Decision Making
MCDM, Structuring the Problem (Value-Alternative focused thinking, Cognitive Mapping)
Constructing the Decision Model (Scales, Normalization, Prioritization)
The Analytic Hierarchy Process
The Analytic Network Process
MIDTERM (take home)
Analyzing the Problem (Elementary Methods, MAVT-SMARTS)
Analyzing the Problem (SAW, WP, TOPSIS, PROMETHEE)
Analyzing the Problem (ELECTRE), Decision Analysis (DM under Uncertainty & Risk)
Decision Analysis (Utility, Decision Trees)
Group Decision Making (Social Choice)
MIDTERM (take home)
PRESENTATIONS
PRESENTATIONS
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Prof. Dr. Y. İlker Topcu
Office address
Management Faculty C301, Maçka, Istanbul
Phone
(212) 293 1300 /2069 office - (532) 355 5045 mobile
Web site
www.ilkertopcu.net, www.ilkertopcu.org, www.ilkertopcu.info,
www.facebook.com/yitopcu, twitter.com/yitopcu
E-mail address
[email protected]
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Professor at Industrial Engineering department of ITU (2011)
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Associate Professorship in Operations Research (2005)
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Ph.D. in ITU Engineering Management programme (2000)
 Integrated decision aid model for multi-attribute problem
solving
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Ph.D. research at Centre for Decision Research of Leeds
University Business School (1998-1999)
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Research interests
 Decision Analysis, Multi Criteria Decision Making, Group
Decision Making
 Operations Research / Management Science
 Logistics Management, Ethics in OR, Business Ethics,
Transp’n, Energy, Bidding and Tender Systems, Scheduling
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