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MHY530E DECISION MAKING TECHNIQUES

MHY530E DECISION MAKING TECHNIQUES. Dr. Y. İlker TOPCU www.ilkertopcu. net www. ilkertopcu .org www. ilkertopcu . info www. facebook .com/ yitopcu twitter .com/ yitopcu. Course information. Credits: 3+0 ECTS Credits: 7.5 Type: Elective Language: English

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MHY530E DECISION MAKING TECHNIQUES

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  1. MHY530E DECISION MAKING TECHNIQUES Dr. Y. İlker TOPCU www.ilkertopcu.netwww.ilkertopcu.orgwww.ilkertopcu.info www.facebook.com/yitopcu twitter.com/yitopcu

  2. Course information • Credits: 3+0 • ECTS Credits: 7.5 • Type: Elective • Language: English • Web site: web.itu.edu.tr/topcuil/ya/MHY530E

  3. 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

  4. Course objectives • to provide students practical techniques and decision support tools those help them to solve decision problems • to enable students to integrate judgments with other types of information in a logical and defensible manner • to improve students’ decision making skills, their ability to analyze problems systematically, and their confidence in their own decision making

  5. Course learning outcomes Students who pass the course gain knowledge, skill and competency in the following subjects: • identifying common errors and traps that prevent them from making effective decisions • learning how decision support systems relate to decision support • using a range of decision making techniques to improve the effectiveness of their decision making, • finding (choosing, ranking, or classifying) the best alternative for making a decision

  6. References Web site of thecourse • Up-to-datelecturenotes and supplements • Solutionstoexams and homework Books • 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 othercourses

  7. AssessmentCriteria • Final exam (30%), Midterm exams (40%), Term project (30%) • Exams will be either“take home” or “open book”

  8. Exams Midtermexam 1 • March 12, Takehome Midtermexam 2 • April 16, Takehome Final exam • At school, Openbook

  9. 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): February 26 • Deadline for 2nd submission (literature survey): March 26 • Deadline for final submission (report): May 7 • Presentations: May 7, May 14

  10. 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!

  11. Schedule

  12. 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 ilker.topcu@itu.edu.tr

  13. Professor at IndustrialEngineeringdepartment of ITU (2011) • AssociateProfessorship in OperationsResearch (2005) • Ph.D. in ITU Engineering Management programme (2000) • Integrated decision aid model for multi-attribute problem solving • Ph.D. research at Centrefor Decision Research of LeedsUniversityBusinessSchool (1998-1999) • Researchinterests • Decision Analysis, MultiCriteria Decision Making, Group Decision Making • OperationsResearch / Management Science • Logistics Management, Ethics in OR, Business Ethics,Transp’n, Energy, Bidding and Tender Systems, Scheduling

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