157-0575/01 – Decision Making Methods (MVRe)

Gurantor departmentDepartment of Systems EngineeringCredits4
Subject guarantordoc. Mgr. Ing. František Zapletal, Ph.D.Subject version guarantordoc. Mgr. Ing. František Zapletal, Ph.D.
Study levelundergraduate or graduateRequirementChoice-compulsory type B
Year2Semestersummer
Study languageEnglish
Year of introduction2019/2020Year of cancellation
Intended for the facultiesEKFIntended for study typesBachelor, Follow-up Master
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Credit 2+2

Subject aims expressed by acquired skills and competences

Students are able to: - define a relationship between decision-making and other components of supervisory process; - classify the decision-making processes form various points of view; - describe the phases of the decision-making process; - use appropriate mehods for identifiaction and determination of weights and their scaling; - use basic methods of decision-making under the risk and uncertainty, scenario building; - use multiobjective decision-making methods under the certainty, - describe the basic approaches to multiobjective optimization.

Teaching methods

Lectures
Tutorials

Summary

Compulsory literature:

RAMÍK, J., PERZINA, R. Modern methods of evaluation and decision making. Karviná: Silesian University in Opava, 2008. ISBN: 978-80-7248-497-3. WISNIEWSKI, Mik. Quantitative Methods for Decision Makers. 5th Edition. Harlow: Prentice Hall, 2011. ISBN: 978-0-273-71207-7. TAHA, A., Hamdy. Operations Research: An Introduction. 9th Edition. New Jersey: Pearson, 2010.

Recommended literature:

ANDERSON, R. David et al. An Introduction to Management Science: Quantitative Approaches to Decision Making. Mason: South-western Cengage Learning, 2012. ISBN: 978-1-111-53222-2. HILLIER, S. Frederick, LIEBERMAN, J., Gerald. Introduction to Operations Research. 9th edition. New York: McGraw-Hill, 2011.

Way of continuous check of knowledge in the course of semester

Semestral project and its defense.

E-learning

Other requirements

Students must attend at least 75% lectures.

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

Decision making is a key to the management responsibility and the basic management attribute. The decision-making is the elementary comptetence of managers. This process is the essential way how to make a change and how to ensure the effective functioning of the system. This subject contains of the description of basic properties of the decision-making processes and methods suitable for solving the various kinds of decision-making problems. Syllabus: 1) Introduction to the decision-making (from the initial problem to the consequences of the decision). 2) Decision trees and their application. 3) Decision-making under uncertainty - profit and loss criteria (Waldo, Hurwitz, Laplace, Savage). 4) Assessment of weights - scales of weights measuring, methods of weights determination - pairwise comparison (Fuller triangles). 5) Assessment of weights - scales of weights measuring, methods of weights determination - Saaty method, scaling of the weights. 6) Multi attribute decision making - TOPSIS and WSA method. 7) Multi attribute decision making - AHP method. 8) Multi attribute decision making - PROMETHEE and Even-Swap method. 9) Psychological aspects of decision making - biases, their sources and consequences. 10) Game theory - introduction and classification. 11) Game theory - matrix games. 12) Game theory - matrix games: mixed strategies (use of linear programming). 13) Game theory - bi-matrix games. 14) Game theory - cooperative games and distribution of profit.

Conditions for subject completion

Full-time form (validity from: 2019/2020 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of points
Credit Credit 100  51
Mandatory attendence parzicipation: Written semestral project and its defense.

Show history

Occurrence in study plans

Academic yearProgrammeField of studySpec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2020/2021 (B0412A050005) Finance P Czech Ostrava 2 Choice-compulsory type B study plan
2020/2021 (B0412A050006) Finance P English Ostrava 2 Choice-compulsory type B study plan
2019/2020 (B0412A050005) Finance P Czech Ostrava 2 Choice-compulsory type B study plan
2019/2020 (B0412A050006) Finance P English Ostrava 2 Choice-compulsory type B study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner