OPF:INMNARAEK Decision Analysis for Managers - Course Information

INMNARAEK Decision Analysis for Managers

Extent and Intensity

16/0/0. 6 credit(s). Type of Completion: zk (examination).

Teacher(s)

doc. RNDr. David Bartl, Ph.D. (lecturer)

Guaranteed by

doc. RNDr. David Bartl, Ph.D.
Department of Informatics and Mathematics – School of Business Administration in Karvina
Contact Person: Mgr. Radmila Krkošková, Ph.D.

Timetable

Sat 3. 10. 11:25–13:00 B308, Sat 24. 10. 11:25–13:00 B308, Sat 28. 11. 11:25–13:00 B308

Prerequisites

FAKULTA(1952) && TYP_STUDIA(N) && FORMA(K)

Course Enrolment Limitations

The course is only offered to the students of the study fields the course is directly associated with.

fields of study / plans the course is directly associated with

• Managerial Informatics (programme OPF, N_MI)

Course objectives

Based on the knowledge of basic management courses and mathematical statistics, to provide basic and advanced mathematical methods of multi-criteria decision-making used to support decision-making. Students will grasp basic and advanced mathematical methods of multi-criteria decision-making used to support analyst and manager decision-making at all levels of management. They will also manage to solve case studies by using Excel.

Learning outcomes

The student is able to solve multi-criteria decision-making problems using the aspiration level method and the lexicographic method, determine the quantitative importance (weights) of criteria/variants using the ranking method, the scoring method, and various pairwise comparison methods, solve multi-criteria decision-making problems using weighted average methods, solve multi-criteria decision-making problems using the Analytic Hierarchy Process (AHP), solve single- and multi-criteria decision-making problems under risk, uncertainty, and vagueness, solve multi-criteria decision-making problems with qualitative criteria using the preference aggregation method, aggregate the evaluation of several experts in the case of group decision-making.

Syllabus

• 1. Multi-criteriality as an essential feature of decision making
  Introduction to multi-criteria decision making. Decision making process. Information in decision making. Theoretical and real decision maker. Basic elements of multi-criteria decision making. Goal, criteria, variants, weights of criteria, methods of defining goals, criteria, and variants, consequences of variants.
• 2. Methods of modelling preferences among the variants and criteria
  Relations, scales, “optimal” solution, non-dominated (i.e. Pareto) solution. Properties of compromise variants. Classification of multi-criteria decision making problems.
• 3. Methods with nominal, ordinal and cardinal information about the criteria / variants
  Classification of methods according to the information about the criteria / variants. Method of equal importance. Aspiration level method. Lexicographical method. Methods of scalarization of the ordinal information about the criteria /variants. Rank ordering method, scoring method. Simple pairwise comparison methods. Fuller triangle method. Standardization and normalization. Methods based on the utility function. Distance based methods. TOPSIS method.
• 4. Analytic hierarchy process (AHP) and Analytic network process (ANP)
  Advanced pairwise comparison methods. Deriving weights from a pairwise comparisons matrix. Least squares method. Logarithmic least squares method (geometric mean method). Saaty’s eigenvector method. Eigenvalues and eigenvectors of reciprocal matrices. Consistency of a pairwise comparisons matrix. Saaty’s fundamental scale. Hierarchy. Formal approach to hierarchy. Priorities. Synthesis. System with feedback loops. Applications and case studies.
• 5. Multi-criteria decision making under risk, uncertainty, and vagueness
  Objective and subjective probability. Utility function under risk. Methods of evaluation of variants under risk with one criterion and with multiple criteria. AHP under risk. Methods of evaluation of variants under uncertainty with one criterion and with multiple criteria. Methods of evaluation of variants under vagueness with one criterion and with multiple criteria. Fuzzy numbers.
• 6. Methods based on sensitivity thresholds
  Relations and sensitivity thresholds. AGREPREF method. ELECTRE-type methods. PROMETHEE-type methods.
• 7. Group decision making
  Introduction to group decision making. Methods of social choice. Methods of conflict situations. Aggregation of partial evaluations. Group decision making with the AHP.

Literature

required literature
• RAMÍK, Jaroslav and David BARTL. Decision analysis for managers: Distance study text. Karviná: Slezská univerzita v Opavě, Obchodně podnikatelská fakulta v Karviné, 2023. info

recommended literature
• RAMÍK, Jaroslav. Pairwise Comparisons Method - Theory and Applications in Decision Making. Cham, Switzerland: Springer Nature, 2020, 252 pp. Lecture Notes in Economics and Mathematical Systems 690. ISBN 978-3-030-39890-3. Available from: https://doi.org/10.1007/978-3-030-39891-0. info
• 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
• ZOPOUNIDIS, Constantin and Panos M. PARDALOS. Handbook of Multicriteria Analysis. Heidelberg: Springer, 2010. ISBN 978-3-540-92827-0. info
• SAATY, Thomas L. Fundamentals of Decision Making and Priority Theory with the Analytic Hierarchy Process: Vol. IV of the AHP Series. 2nd ed. Pittsburgh: RWS Publications, 2006. ISBN 0-9620317-6-3. info
• TRIANTAPHYLLOU, E. Multi-criteria decision making methods. Springer, 2000. ISBN 0-7923-6607-7. info
• GÁL, Tomáš; Theodor J. STEWART and Thomas HANNE. Multicriteria Decision Making: Advances in MCDM Models, Algorithms, Theory, and Applications. Kluwer, 1999. ISBN 0-7923-8534-9. info

not specified
• CHARLESWORTH, David. Decision Analysis for Managers: A Guide for Making Better Personal and Business Decisions. Second Edition. New York: Business Expert Press, 2017. ISBN 978-1-63157-604-1. info
• 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

Teaching methods

tutorials and self-study; independent preparation of a seminar paper (solving a small problem of multi-criteria decision-making)

Assessment methods

Requirements for the student: regular study, attendance at tutorials, seminar paper, final test.
Assessment: attendance at tutorials, seminar paper (30 % of assessment), written test (70 % of assessment).
Assessment methods: independent preparation of a seminar paper (solving a small problem of multi-criteria decision-making), final written test (several problems from the areas taught).

Language of instruction

English

Further Comments

Study Materials
The course can also be completed outside the examination period.

• Enrolment Statistics (Winter 2026, recent)
  
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