IE582 MULTI CRITERIA DECISION MAKING Prof. Dr. Y. İlker TOPCU facebook.com/yitopcufacebook.com/yitopcu twitter.com/yitopcutwitter.com/yitopcu instagram.com/yitopcu

2 web.itu.edu.tr/topcuil/ya/IE582

3 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 description

4 1.to provide students practical techniques and decision support tools those help them to solve decision problems 2.to enable students to integrate judgments with other types of information in a logical and defensible manner 3.to improve students’ decision making skills, their ability to analyze problems systematically, and their confidence in their own decision making Course objectives

5 Students who pass the course gain knowledge, skill and competency in the following subjects: 1.identifying common errors and traps that prevent them from making effective decisions 2.learning how decision support systems relate to decision support 3.using a range of decision making techniques to improve the effectiveness of their decision making, 4.finding (choosing, ranking, or classifying) the best alternative for making a decision Course learning outcomes

6 Web site of the course Up-to-date lecture notes and supplements Solutions to exams and homework Books Taylor B.W Introduction to Management Science, Pearson Education Inc., New Jersey. Render B., Stair Jr R.M., and Hanna M.E Quantitative Analysis for Management. Pearson Education Inc., New Jersey. Goodwin P., Wright G Decision Analysis for Management Judgment, John Wiley & Sons, New York. Saaty T.L Decision Making for Leaders. RWS Publ., Pittsburg. Saaty T.L Theory and Applications of the Analytic Network Process. RWS Publ., Pittsburg. Vincke, Ph., Multi Criteria Decision Aid. John Wiley & Sons, Inc., West Sussex Web sites of other courses References

7 Exams (60%) Term project (40%) Exams will be “take home” Assessment Criteria

8 Exams Midterm exam 1 March 26, Take home Midterm exam 2 April 8, Take home

9 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 1 st submission (proposal): March 26 Deadline for 2 nd submission (literature survey): April 8 Deadline for final submission (report): April 22 Presentations: April 22

10 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! Cheating and Plagiarism

11 Schedule

12 Prof. Dr. Y. İlker Topcu Office address Management Faculty C301, Maçka, Istanbul Phone (212) /2069 office - (532) mobile Web site twitter.com/yitopcu address

13 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 ( ) 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