Managerial Decision Making

Course guarantor:

Jaroslav Knápek

Lecturer:

Martin Beneš, Jaroslav Knápek

Tutor:

Martin Beneš, Michaela Makešová

Supervisor:

Department of Economics, Management and Humanities

Synopsis:

System approach and decision making, Decision models, Games theory, Decision making under uncertainty and risk, Decisions with multiple objectives, Stochastic programming, Expert systems, Cluster analysis

Requirements:

see: https://ekonom.feld.cvut.cz/cs/student/predmety/systemove-inzenyrstvi-a-rozhodovani

Syllabus of lectures:

1. Overview, system approach

2. Decision making - definitions, classification, scales

3. Theory of games - methods of solution, typical applications

4. Decision making under risk and uncertainty - methods, applications

5. Decision making under uncertainty - methods, applications

6. Multiobjective optimization - introduction, criteria weights

7. Discrete multiobjective tasks - basic methods, applications

8. Discrete multiobjective tasks - advanced methods

9. Multiobjective vector tasks - basic methods, applications

10. Multiobjective vector tasks - advanced methods

11. Stochastic programming - active and passive methods

12. Expert methods - methods, organization

13. Expert methods - evaluation

14. Manager's role in decision

Syllabus of tutorials:

1. Linear programming - overview

2. Decision making - typical tasks

3. Matrix games, methods of solution

4. Decision under risk and uncertainty, typical tasks, solution

5. Multiobjective optimization - typical tasks

6. Discrete multiobjective tasks - methods of solution

7. Goals definition and criteria

8. Multiobjective vector tasks - methods of solution

9. Case - multiobjective decision (team work)

10. Stochastic programming - methods of solution

11. Test

12. Expert methods - criteria weights

13. Expert methods - case (team work)

14. Software support for decision making

Study Objective:

Study materials:

1.Ragsdale J.: Managerial Decision Modeling. Thomson 2006

2.Dennis, L.T., Dennis, B.L. Management Science. St. Paul: West Publishing company 1991

3.Slak N., Cooke S.: Making Management Decisions: Prentice Hall 1991

4.Lapin L. L.: Quantitative Methods for Business Decisions. The Diden Press 1994

5. Wisniewski, M.: Quantitative Methods for Decision Makers, London: Pitman Publishing 1994

Note:

Further information:

https://moodle.fel.cvut.cz/courses/B1M16MNR

Time-table for winter semester 2024/2025:

	06:00–08:0008:00–10:0010:00–12:0012:00–14:0014:00–16:0016:00–18:0018:00–20:0020:00–22:0022:00–24:00
Mon	roomT2:A3-415 Knápek J. 12:45–14:15 (lecture parallel1) Dejvice roomT2:C3-52 Beneš M. 14:30–16:00 (lecture parallel1 parallel nr.101) Dejvice
Tue
Wed
Thu
Fri

Time-table for summer semester 2024/2025:

Time-table is not available yet

The course is a part of the following study plans:

• Electrical Engineering, Power Engineering and Management - Management of Power Eng. and Electr. (compulsory course of the branch)