Description
Theoretical teaching
Introduction to decision-making. Process of decision-making. Decision-making phases. Decision-making models. Decision-making analysis without sampling. MAXIMIN criterion.MINIMAX criterion. MAXIMAX criterion. LaPlace criterion. Decision-making analysis with apriori probabilities: problems with two actions and multiaction problems. Incremental analysis. decision-making analysis with sampling. Bayes theorem. Optimum strategy. Expected value of sample information. Expected net profit from sampling. Optimum plan of sampling. Decision-making tree and sequence decision-making. Case without sampling. Taking one sample. Sequence case. Risk analysis. Risk analysis scenario. Oneattributive theory of utility. Utility and its masuring. Expected utility. utility function. Multiattributive utility theory. Analysis of multiattributive problems. Method of attributive utility with additional form. Multicriteria decision-making. Multiattributive decision-making. Multiobjective decision-making. Methods of multicriteria analysis(ELECTRE, PROMETHEE, AHP and
th.). Team decision-making. Team work. Types of team decision-making. Methods of team decision-making.
Practical teaching
Calculation problems with examples covering theoretical areas.
General information
Study program: Engineering management – Basic academic studies
Industrial engineering – Basic academic studies
ECTS: 6
Semester: 7
Lectures: 3
Exercises: 3
Lecturer
Milan Nikolić, Associate professor
Email: mikaczr@sbb.rs
Coursebooks
[1] Nikolić, M. (2009). Decision methods, Zrenjanin: Tehnički fakultet “Mihajlo Pupin”.
[2] Čupić, M., Tummala, R. (1997). Savremeno odlučivanje: metode i primena, Belgrade: Fakultet organizacionih nauka.
[3] Triantaphyllou, E. (2000). Multi-Criteria Decision Making Methods: A Comparative Study, Boston: Kluwer Academic Publishers.
