Decision Making Systems (DMS)

The environment for making business and development decisions. Quantifying environmental effects and parameters. Interaction between economy and environment. Causes of ignorance and underestimation of the environmental parameters. Establishing environmental – economical parameters. Environmental indicators and criteria. Development indicators and criteria. Sustainability criteria. Forecasting techniques. Decision assistance in critical situations. Decision criteria. Decision trees. The value of the information. Risk analysis. Opportunity cost. Simulated exercises. Introduction to Multicriteria Analysis. Basic concepts. Set of possible choices. The selection of the decision criteria. The role of the director and the preferred system. The difficulty of the decision. The suitable solutions. The severity of the chosen criteria. The optimum compromise solution. Basic concepts of support systems for group decisions. Methods of Multicriteria Analysis. Methods based on the theory of utility (UTA +). Multicriteria ranking methods (PROMETHEE, ELECTRE III). Tutorials and exercises on the use of assistance methods of multicriteria decisions.