Course
Title: Multi-Criteria Decision Making
Credits: 3 ECTS
Lecturer: Asst. Prof. Dr. Nima Mirzaei
Course
Description:
We live in a complex world with diverse people, firms,
and governments whose behaviors aggregate to produce novel, unexpected
phenomena. We need to make strategic decisions in uncertain and complex
situations in which information is ambiguous. Effective decision-making requires the adoption of
decision approaches that fit the complexities of these situations and the
efficient management of decision-making processes.
This course deliberates decision-making under uncertainty
by addressing Multi-Criteria Decision Making (MCDM) techniques.
MCDM is a collection of methods for trading-off
different alternatives’ performance on multiple conflicting objectives; methods
discussed include the Analytic Hierarchy Process (AHP), Analytic Network
Process (ANP), and Technique for Order of Preference by Similarity to Ideal
Solution (TOPSIS) methods. Both qualitative and quantitative factors are
considered to evaluate alternatives.
Finally, SuperDecion software is introduced in this
course as a complementary tool for the decision-making approach.
Learning
Outcomes: Upon completing
the course, the students will be able to;
- Configure
the problems by analytical thinking and classify the problems.
- Cooperate
with a group for a decision-making process.
- Implement
an MCDM approach to a real-life problem and apply the method in professional
practice.
- Apply
AHP, ANP, and TOPSIS multi-criteria decision-making techniques.
- Use
the computer programs (SuperDecion and Excel) to model and solve a problem.
Who
can participate:
The course is open to undergraduate and graduate
students in engineering, social sciences, humanities, communication, architecture,
business, and marketing.
Prerequisites,
if any:
The students must have at least an intermediate level
of English and a basic level of mathematics and statistics.
Course
Materials:
Microsoft PPT, Books, articles, and videos. (PPT
slides will be provided by instructors)
Participation
Limit: Max 20 students
Weekly
plan (Every day will be
2 hours of lecture and 1 hour of student work such as teamwork, readings, short
assignments that students will undertake themselves)
Week 1 |
Day 1 (Monday) 24.01.2022 | Day 2 | Day 3 | Day 4 | Day 5 |
Basic Concepts of Multi-Criteria Decision Making (MCDM) (decision environment, attribute, criteria, degree, multi-objective,
goal, objective) | Analytic Hierarchy Process (AHP) | Case studies and Computer Applications for AHP (SuperDecion program) | Analytic Network Process (ANP) | (Midterm Exam) |
Week 2 |
Day 6 | Day 7 | Day 8 | Day 9 | Day 10 (Friday) 04.02.2022 |
Case studies and Computer Applications for ANP (SuperDecion program) | Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) method, model practice, advantages and disadvantages | Application of TOPSIS in Excel | Case studies presentation and discussion | (Final Exam) |
Assessment
and Evaluation
Mid-term
exam: Take-home exam,
assignment, or presentation 40% (at the end of the 1st week)
Final
exam: Take-home exam or
assignment 60 % (at the end of the 2nd week)