XINM2723 Decision Analysis for Managers

School of Business Administration in Karvina
Summer 2016
Extent and Intensity
0/0. 4 credit(s).
Guaranteed by
prof. RNDr. Jaroslav Ramík, CSc.
Department of Informatics and Mathematics – School of Business Administration in Karvina
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives (in Czech)
Na základě znalostí ze základních kurzů managementu a matematické statistiky poskytnout základní i pokročilejší matematické metody vícekriteriálního hodnocení používané pro podporu rozhodování. Studenti zvládnou základní i pokročilejší matematické metody vícekriteriálního hodnocení používané pro podporu rozhodování analytiků a manažérů na všech úrovních řízení. Současně prakticky zvládnou řešení případových studií pomocí programu Excel.
Syllabus
  • 1. Multicriteria - an essential feature of decision-making and evaluation
    Introduction to multi-criteria decision making. Decision-making process. The information in decision-making. Theoretical and real decision-maker. The basic elements of a multi-criteria decision making. Criteria - setting goals and criteria, weighting of the criteria, methods of determining variants and consequences of variations.
    2. Methods of modeling of preferences between alternatives and criteria
    Relations. Scales. "Optimal" solution - undominated solution. Properties of compromise variants. Classification of multi-criteria decision making tasks.
    3. Methods of nominal and ordinal information on the criteria
    Classification of methods according to the information on the criteria. Methods of nominal information on the criteria. The method of equal importance. Method of aspiration levels. Methods of ordinal information on the criteria. Lexicographical method. Methods using scalarization of ordinal information on the criteria. Ranking and scoring method. Methods of paired comparison. Fuller triangle method.
    4. Methods of cardinal information on the criteria
    Introduction to the methods of cardinal information on the criteria. Standardization and normalization. Methods based on the utility function. Methods based on pairwise comparison of alternatives. Methods based on distance. Saaty method of pairwise comparisons. The method of least squares for calculation of weights. The method of logarithmic least squares determination of weights.
    5. Analytical Hierarchy Process (AHP)
    Hierarchy. A formal approach to the hierarchy. Priorities. Basic scale. Weights calculation based on pairwise comparisons matrix. Eigenvalues and eigenvectors of reciprocal matrices. Consistency matrix of pairwise comparisons. Synthesis.
    6. Using AHP in decision-making - Case Study 1
    Choosing a car, choosing a vacuum cleaner, a selection of prospective business.
    7. Using multi-criteria decision making in decision-making - Case Study 2
    Application of multi-criteria decision making methods to the practical problems of optimal decision making.
    8. Methods based on thresholds of sensitivity
    Introduction - relations and thresholds. Method AGREPREF. ELECTRE type methods. Methods of type PROMETHEE.
    9. Multi-criteria decision making under risk
    The decision-making task in terms of risk. Objective and subjective probability. Utility function under risk. Variants assessment methods under risk with a single criterion. Methods of evaluation of variants under risk with more criteria. AHP in multicriteria evaluation of variants under risk.
    10. Multi-criteria decision making under uncertainty
    Multicritaria decision making in conditions of risk, uncertainty and vagueness. Methods for evaluation of alternatives under uncertainty with a single criterion. Methods for evaluation of alternatives under uncertainty when multiple criteria.
    11. Multi-criteria decision making under vagueness
    Definition of a fuzzy set. Fuzzy intervals and fuzzy numbers. Arithmetic operations on fuzzy intervals. Ordering of fuzzy intervals. Fuzzy criteria. Multi-criteria decision making with fuzzy criteria.
    12. Group decision making
    Introduction to group decision making. Aggregation of partial evaluation.
    13. Methods of social choice
    Methods of conflict situations.
Language of instruction
Czech
Further Comments
The course can also be completed outside the examination period.
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