INMNARAM Decision Analysis for Managers

School of Business Administration in Karvina
Summer 2021
Extent and Intensity
2/1/0. 4 credit(s). Type of Completion: z (credit).
doc. RNDr. David Bartl, Ph.D. (lecturer)
Ing. Radomír Perzina, Ph.D. (lecturer)
prof. RNDr. Jaroslav Ramík, CSc. (lecturer)
doc. RNDr. David Bartl, Ph.D. (seminar tutor)
Ing. Radomír Perzina, Ph.D. (seminar tutor)
Guaranteed by
prof. RNDr. Jaroslav Ramík, CSc.
Department of Informatics and Mathematics - School of Business Administration in Karvina
Contact Person: Mgr. Radmila Krkošková, Ph.D.
Prerequisites (in Czech)
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.

The capacity limit for the course is 7 student(s).
Current registration and enrolment status: enrolled: 0/7, only registered: 0/7
fields of study / plans the course is directly associated with
Course objectives
Based on the knowledge of basic management courses and mathematical statistics provide basic and advanced mathematical methods of multi-criteria decision making. It also aims to practically handle case studies using Excel and add-in DAME.
  • 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. Relations. Scales. "Optimal" solution - undominated solution. Properties of compromise variants. Classification of multi-criteria decision making tasks.
    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.
    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.
    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. Application of multi-criteria decision making methods to the practical problems of optimal decision making.
    Multi-criteria decision making under risk and uncertainty
    The decision-making task in terms of risk, uncertainty and vagueness. 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.
    required literature
  • ISHIZAKA, A., NEMERY, P. Multi-criteria Decision Analysis: Methods and Software. Chichester, West Sussex, U.K.: Wiley, 2013. ISBN 978-1119974079. info
  • LAWRENCE, K., KLEINMAN, G. Applications in multi-criteria decision making, data envelopment analysis, and finance. Bingley, UK: Emerald, 2010. ISBN 978-0857244697. info
    recommended literature
  • ZOPOUNIDIS, C., DOUMPOS, M. Multiple Criteria Decision Making: Applications in Management and Engineering. Berlin: Springer, 2016. ISBN 978-3319392905. info
  • PEDRYCZ, W. Fuzzy multicriteria decision-making: models, methods and applications. West Sussex, U.K.: Wiley, 2011. ISBN 978-0470682258. info
  • EHRGOTT, M., FIGUEIRA, J. R., GRECO, S. Trends in Multiple Criteria Decision Analysis. London: Springer, 2010. ISBN 978-1441959034. info
Teaching methods
Lecture with presentation in Power-point
Language of instruction
Further comments (probably available only in Czech)
The course can also be completed outside the examination period.
Teacher's information
attendance in seminars 70 %, seminar paper, course credit test
ActivityDifficulty [h]
Ostatní studijní zátěž46
The course is also listed under the following terms Summer 2015, Summer 2016, Summer 2017, Summer 2018, Summer 2019, Summer 2020.
  • Enrolment Statistics (Summer 2021, recent)
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