Decision Analysis (IE418) Course Detail

Course Name Course Code Season Lecture Hours Application Hours Lab Hours Credit ECTS
Decision Analysis IE418 3 0 0 3 5
Pre-requisite Course(s)
Course Language English
Course Type N/A
Course Level Bachelor’s Degree (First Cycle)
Mode of Delivery Face To Face
Learning and Teaching Strategies Lecture, Demonstration, Problem Solving, Team/Group, Project Design/Management.
Course Coordinator
Course Lecturer(s)
Course Assistants
Course Objectives Upon successful completion of this course, the student should be able to learn to give decisions in uncertain environments and in the presence of more than one objective.
Course Learning Outcomes The students who succeeded in this course;
  • Students will learn theoretical background information needed for making hard decisions under uncertainty and risky decisions.
  • Students will be able to develop models, methods and methodologies for the effective ways of making decisions under uncertain and multiple objective environments.
  • Students will be able to assess the value of information.
Course Content Decision making in uncertain environments, value of information, risk seeking and risk averse behavior, utility functions, multi-objective decision making, goal programming.

Weekly Subjects and Releated Preparation Studies

Week Subjects Preparation
1 Introduction to decision making
2 Decision rules under non-stochastic Criteria
3 Decision rules under non-stochastic Criteria
4 Decision analysis under expected value criterion
5 Decision analysis under expected value criterion
6 Utility theory
7 Utility theory
8 Risk sharing
9 Midterm
10 Value of partial and perfect information
11 Multi attribute utility functions
12 Multi attribute utility functions
13 Analytic hierarchy process
14 Goal programming
15 IE applications for decision analysis
16 Final Examination Period


Course Book 1. Clemen, R.T., and Reilly, T., Making Hard Decisions: An Introduction to Decision Analysis, 2nd edition, Duxbury Press, 2000.
Other Sources 2. Raiffa, H., Decision Analysis, 2nd edition, Addison-Wesley, 1968.
3. Holloway, C.A., Decision Making Under Uncertainty, Prentice Hall, 1979.
4. Winston, W.L., Operations Research, 2nd edition, PWS-KENT, 1991.

Evaluation System

Requirements Number Percentage of Grade
Attendance/Participation - -
Laboratory - -
Application - -
Field Work - -
Special Course Internship - -
Quizzes/Studio Critics - -
Homework Assignments - -
Presentation - -
Project 1 25
Report - -
Seminar - -
Midterms Exams/Midterms Jury 1 30
Final Exam/Final Jury 1 45
Toplam 3 100
Percentage of Semester Work 55
Percentage of Final Work 45
Total 100

Course Category

Core Courses X
Major Area Courses
Supportive Courses
Media and Managment Skills Courses
Transferable Skill Courses

The Relation Between Course Learning Competencies and Program Qualifications

# Program Qualifications / Competencies Level of Contribution
1 2 3 4 5
1 Has the ability to apply scientific knowledge gained in the undergraduate education and to expand and extend knowledge in the same or in a different area
2 Can apply gained knowledge and problem solving abilities in inter-disciplinary research
3 Has the ability to work independently within research area, to state the problem, to develop solution techniques, to solve the problem, to evaluate the obtained results and to apply them when necessary
4 Takes responsibility individually and as a team member to improve systematic approaches to produce solutions in unexpected complicated situations related to the area of study
5 Can develop strategies, implement plans and principles on the area of study and can evaluate obtained results within the framework
6 Can develop and extend the knowledge in the area and to use them with scientific, social and ethical responsibility
7 Has the ability to follow recent developments within the area of research, to support research with scientific arguments and data, to communicate the information on the area of expertise in a systematically by means of written report and oral/visual presentation
8 To have an oral and written communication ability in at least one of the common foreign languages ("European Language Portfolio Global Scale", Level B2)
9 Has software and hardware knowledge in the area of expertise, and has proficient information and communication technology knowledge
10 Follows scientific, cultural, and ethical criteria in collecting, interpreting and announcing data in the research area and has the ability to teach.
11 Has professional ethical consciousness and responsibility which takes into account the universal and social dimensions in the process of data collection, interpretation, implementation and declaration of results in mathematics and its applications.

ECTS/Workload Table

Activities Number Duration (Hours) Total Workload
Course Hours (Including Exam Week: 16 x Total Hours) 16 3 48
Special Course Internship
Field Work
Study Hours Out of Class 16 3 48
Presentation/Seminar Prepration
Project 1 15 15
Homework Assignments
Quizzes/Studio Critics
Prepration of Midterm Exams/Midterm Jury 1 5 5
Prepration of Final Exams/Final Jury 1 9 9
Total Workload 125