MHY530E DECISION MAKING TECHNIQUES Prof. Dr. Y. İlker TOPCU www.ilkertopcu.net www.ilkertopcu.org www.ilkertopcu.info facebook.com/yitopcu twitter.com/yitopcu instagram.com/yitopcu

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

Course description Multiple Criteria Decision Making Structuring the problem (Cognitive Mapping, Fuzzy Cog. Map.) Constructing the model (Normalization, Prioritiz’n, Conjoint) 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 Utility theory Decision trees

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

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

References Web site of the course Up-to-date lecture notes and supplements Solutions to exams 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 other courses

Assessment Criteria Final exam (40%), Midterm exam (30%), Term project (30%) Exams will be either “take home” or “open book”

Exams Midterm exam April 3, Take home Final exam At school, Open book

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): March 6 Deadline for 2nd submission (literature survey): March 20 Deadline for final submission (report): May 8 Presentations: May 8 & May 15

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!

Schedule

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

Professor at Industrial Engineering department of ITU (2011) Associate Professorship in Operations Research (2005) Ph.D. in ITU Engineering Management programme (2000) Integrated decision aid model for multi-attribute problem solving Ph.D. research at Centre for Decision Research of Leeds University Business School (1998-1999) 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