Decision Support Models
Objectives
By the end of this course, students will have acquired knowledge, skills, and abilities that will enable them to
- Know and understand basic concepts of decision theory
- Understand issues related to the subjectivity inherent in decision making and how different methodologies model this subjectivity
- Identify multiobjective linear programming (PLMO) problems
- Apply various methods to obtain compromise solutions to PLMO problems
- Model and solve problems that may arise in real-world situations.
General characterization
Code
8416
Credits
6.0
Responsible teacher
Maria Isabel Azevedo Rodrigues Gomes
Hours
Weekly - 4
Total - 56
Teaching language
Português
Prerequisites
Available soon
Bibliography
Anderson et al – Quantitative Methods for Business (2001) – SW College Publicating
Antunes, C. H., Alves, M. J., & Clímaco, J. (2016). Multiobjective linear and integer programming. Cham: Springer.
Gomes, M.I. e Chibeles-Martins N. (2023). Mathematical Models for Decision Making with Multiple Perspectives An Introduction, CRC Press.
Goodwin, P. e Wright, G. – Decision Analysis for Management Judgement (2014 - 5th ed.) – John Wiley & Sons
Hillier, Lieberman, Introduction to Operations Research, Mc Graw - Hill, 10th ed (2015) - or any other edition
Saaty, T. L.– The Analytic Hierarchy Process: Planning, Priority Setting, Resource Allocation (1990) – RSW Publications
Steuer, R. E.– Multiple Criteria Optimizations: Theory, Computation, and Application (1986) – John Wiley & Sons
Teaching method
Classroom classes
Evaluation method
1 - Attendance
All students must achieve FREQUENCY in order to have access to the 3rd and 4th mini-tests and/or the exam. This “frequency” can be obtained by attending at least two-thirds of the classes taught during the semester. The “frequency” obtained during a school year remains valid for the following school year in case of failure.
2 - Evaluation
Any student enrolled in the course can take the evaluation, as long as he or she has taken the course or is exempt from it. The permission can be obtained in two ways: Continuous Assessment or Examination.
2.1 - Continuous assessment
Continuous assessment consists of 5 elements: 4 mini-tests, with a maximum duration of 45 minutes each, and a group work.
All students are admitted to the 1st and 2nd mini-tests. Students will be admitted to the 3rd and 4th mini-tests if they have obtained “frequency”.
Each mini-test will be graded from 3 (three) to 5 (five) points and the group assignment will be graded from 4 (four) points. A student is aproved if the summation of all grades, rounded to units, is at least 10 points.
2.2 – Assessment by Exam
All students who have “frequency” will be admitted to the written exam. The exam has a maximum duration of 3 hours. A student is aproved if the classification obtained in the exam, rounded to units, is at least of 10 points.
FINAL NOTE: “Grade Improvement” requires proper registration in the Academic Division as provided in the current Assessment Regulations of FCT NOVA.
Subject matter
1 – Single criterion decision: Decision and Uncertainty; Decision and Risk; Sequential Decisions and Decision Trees; Utility Theory;
2 – Multi Criteria Decision: Compensatory Models – SMART Technique Non-Compensatory Model – ELECTRE Methodology; Hierarchic Models – AHP.
3 – Multi Objective Optimization: Solutions and Objectives. Dominance and Efficiency; Aggregated Sums Models; Weight Vectors Models; Change of Scale; Reduction of Feasible Region; Goal Programming; Interactive Models: STEM.