Decision Making Methodologies

The course focuses on decision–making techniques. It explains the background, techniques, and concerns about the decision-making task. It covers the evaluation process from the data acquisition to data processing and formulation of results. It analyses monetary-based techniques (cost-effectiveness and cost-benefit analyses) and multi-criteria analyses (Delphi, weighing, normalisation, Analytical Hierarchy Process). The course includes the multiattribute Utility Theory, the technique for Order Preference by Similarity to Ideal Solution (TOPSIS) and outranking methods (Electre, Promethee). Multi-objective mathematical programming is also covered for optimisation, using Solver and Citation.