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Presentation
Presentation
It provides knowledge, skills and tools for decision aiding in complex problems of Industrial Engineering and Management. Its scope includes the application of different methods for structuring multicriteria evaluation decisions, with multiple objectives and alternatives, as well as the incorporation of uncertainty and risk.
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Class from course
Class from course
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Degree | Semesters | ECTS
Degree | Semesters | ECTS
Master Degree | Semestral | 6
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Year | Nature | Language
Year | Nature | Language
1 | Mandatory | Português
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Code
Code
ULHT6606-23870
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Prerequisites and corequisites
Prerequisites and corequisites
Not applicable
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Professional Internship
Professional Internship
Não
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Syllabus
Syllabus
Introduction and objectives Decision Analysis and its theoretical foundations Decision, Decision Maker, Objectives, Actions, Constraints Types of Decision Single-objective decisions. Time preference Multi-criteria decision models Objectives and indicators Scales of measurement Estimating consequences Relative and absolute evaluation Value functions Weighting procedures Uncertainty and Risk Dominance Analysis Scenario Analysis Sensitivity Analysis Monte Carlo Simulation Stochastic Dominance
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Objectives
Objectives
This curricular unit aims to deepen students' knowledge on the development and application of models, methods and tools to support decision-makers. Such support will focus in structuring and analyzing decisions characterized by the complexity of their context, multiple objectives and alternatives, uncertainty, risk, and differences of opinion. More specifically, students will learn to: Structure complex decision problems, in public or private context, breaking them down into manageable parts. Integrate objectives and preferences of different decision-makers into the decision support model by eliciting their subjective preferences. Include uncertainty and risk in decision support models and to test their assumptions. Analyze and solve real examples of decision analysis applications with uncertainty and risk. Select and use appropriate decision support tools.
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Teaching methodologies and assessment
Teaching methodologies and assessment
State-of-the-art software and hands-on application of the syllabus to solve a real-world decision problem.
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References
References
Clemen, R. T., & Reilly, T. (2013). Making Hard Decisions With Decision Tools (3rd edition). Cengage Learning. Yoe, C. (2019). Principles of Risk Analysis: Decision Making Under Uncertainty (2nd Edition). CRC Press.
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Office Hours
Office Hours
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Mobility
Mobility
No
