IE 548

Course ID:

Course Code & Number

IE 548

Course Title

Decision Analysis

Level

MS

Credit Hours/ ECTS Credits

(3+0+0) 3 TEDU Credits, 7.5 ECTS Credits

Year of Study:

Master

Semester:

Spring

Type of Course:

Elective

Mode of Delivery:

Face-to-face

Language of Instruction:

English

Pre-requisite / Co-requisite::

Catalog Description

Introduction to decision analysis. Concept of probability and decision making under uncertainty. Decision trees. Group and strategic decision making. Quantitative decision making methods, quantitative analysis, simulation methods. Analytic hierarchy process. Management decision support systems

Course Objectives

The fundamental goal of this course is to provide an introduction to the methods and practices of decision analysis. The course aims to teach the ways to aid managerial decision making by applying a scientific approach to decisions problems that involve quantitative factors. The methods include influence diagrams, decision trees, utility functions, and analytic hierarchy process.

Software Usage

Course Learning Outcomes

Upon succesful completion of this course, a student will be able to
1. Identify uncertainties and multiple objectives in decision problems.(k)
2. Understand the behavioral aspects of risk attitudes. (k)
3. Structure and model complex decision problems. (e)
4. Apply appropriate techniques and methods to solve decision analysis problems (k)

Learning Activities and Teaching Methods:

Telling/Explaining Discussion/Debate Reading Problem Solving Collaborating Case Study/Scenarion Analysis

Assessment Methods and Criteria:

Test / Exam Quiz Case Studies / Homework

Assessment Methods and Criteria Others:

Design Content

Recommended Reading

1. Clemen, R. T. , Reilly, T. (2004), Making Hard Decisions with Decision Tools, Duxbury/Thomson Learning. 2. Raiffa H. (1997), Decision Analysis: Introductory Lectures on Choices Under Uncertainty, Mcgraw-Hill. 3. Holloway, C. A. (1979), Decision Making Under Uncertainty: Models and Choices, Prentice-Hall. 4. Keeney, R. L., Raiffa, H. (1993), Decision with Multiple Objectives: Preferences and Value Tradeoffs. Cambridge University Press.

Required Reading

1. Course Materials

Grading

Learning Activities and Teaching Methods Others:

Course Coordinator:

Student Workload:

Workload	Hrs
Course Readings	30
Exams/Quizzes	45
Case Study Analysis	36

Course & Program Learning Outcome Matching: