Course Code and Name: SEEM4480 - Decision Methodology and Applications

Course Objectives:

1.                  recognize the difficulty and importance of decision making under uncertainty;

2.                  understand the need of quantitative decision-making methods;

3.                  advance the understanding of probability and utility theory;

4.                  master the basic techniques for real-world decision making under uncertainty;

Course Outcomes:

 

1.                  Able to describe and identify the essential characteristics of decision-making problems

2.                  Able to access the subjective judgment about uncertainty and quantify subjective preference of consequences

3.                  Able to quantify the value of information and make better decision with more information

4.                  Able to apply quantitative methods to draw inferences and solve decision problems

 

 

 

 

 

Programme Outcomes:

(P1)    The ability to apply knowledge of mathematics, science, and engineering appropriate to the degree discipline (K/S)

(P2)    The ability to design and conduct experiments, as well as to analyze and interpret data (K/S)

(P3)    The ability to design a system, component, or process to meet desired needs within realistic constraints, such as economic, environmental, social, political, ethical, health and safety, manufacturability and sustainability (K/S)

(P4)    The ability to function in multi-disciplinary teams (S/V)

(P5)    The ability to identify, formulate, and solve engineering problems (K/S)

(P6)    The understanding of professional and ethical responsibility (V)

(P7)    The ability to communicate effectively (S)

(P8)    The ability to understand the impact of engineering solutions in a global and societal context, especially the importance of health, safety and environmental considerations to both workers and the general public (V)

(P9)    The ability to recognize the need for, and to engage in life-long learning (V)

(P10) The ability to stay abreast of contemporary issues (S/V)

(P11) The ability to use the techniques, skills, and modern engineering tools necessary for engineering practice appropriate to the degree discipline (K/S)

(P12) The ability to use the computer/IT tools relevant to the discipline along with an understanding of their processes and limitations (K/S/V)

(P13) The ability to apply the skills relevant to the discipline of operations research and information technology and their applications in engineering and managerial decision making, especially in financial services, logistics and supply chain management, business information systems, and service engineering and management (K/S)

 

K = Knowledge outcomes

S = Skills outcomes

V = Values and attitude outcomes

Weights (in %):

P1

P2

P3

P4

P5

P6

P7

P8

P9

P10

P11

P12

P13

Other

Total

30%

 

 

 

30%

 

 

 

 

10%

 

 

30%

 

100%

Course Outcome(s) is/are measurable or not: †††††††††††† Yes/Yes (Partial) /No ††(Please choose).If Yes, please suggest ways to measure:

This course contributes to

(P1) by teaching student how to develop mathematical models for decision problems and apply quantitative methods to solve them.It could be measured by the performance of students in appropriate course projects and/or Final Year Projects, in which a grade (A/B/C/D/E) will be given and presented in graphical form. A benchmark will be established indicating acceptable performance.

(P5) by teaching basic concepts and introducing quantitative methods of decision making.It could be measured by appropriate examinations and/or parts of course projects to establish a grade (A/B/C/D/F) on the ability to apply technical knowledge. This will be presented in graphical form and a benchmark will be established indicating acceptable performance.

(P10) by introducing examples and applications on contemporary issues related to the course material.It could be measured by the performance of students in group discussion in the class, which will be part of studentsí final grade of the course.

(P13) by introducing and giving students practice in applying concepts and methods learned from the course in problems of supply chain management and financial services.It could be measured by studentsí performance in relevant Final Year Projects to establish a grade (A/B/C/D/F) on the ability to apply technical knowledge.