Beruflich Dokumente
Kultur Dokumente
Technology
Sixth Edition
Decision Making
Chapter 5
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© 2014 Pearson Education, Inc., Upper Saddle River, NJ. All rights reserved.
This material is protected by Copyright and written permission should be obtained from the publisher prior to any prohibited reproduction,
storage in a retrieval system, or transmission in any form or by means, electronic, mechanical, photocopying, recording, or likewise. For information regarding permission(s), write to: Rights and Permissions
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Objectives
• Discuss how decision making relates to
planning
• Explain the process of engineering
problem solving
• Be able to solve problems using three
types of decision making tools
• Discuss the differences between
decision making under certainty, risk,
and uncertainty
• Describe the basics of other decision
making techniques
© 2014 Pearson Education, Inc., Upper Saddle River, NJ. All rights reserved.
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storage in a retrieval system, or transmission in any form or by means, electronic, mechanical, photocopying, recording, or likewise. For information regarding permission(s), write to: Rights and Permissions
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Relation to Planning
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Management Science
Characteristics
• Systems view of the problem
• Team approach
• Emphasis on use of formal
mathematical models and statistical
and quantitative techniques
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Management Science Process
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Planning Process
Scientific Method
• Define the problem
• Collect data
• Develop hypotheses
• Test hypotheses
• Analyze results
• Draw conclusion
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Engineering Problem
Solving Approach
• Define the problem
• Collect and analyze the data
• Search for alternatives
• Evaluate alternatives
• Select solution and evaluate the
impact
© 2014 Pearson Education, Inc., Upper Saddle River, NJ. All rights reserved.
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storage in a retrieval system, or transmission in any form or by means, electronic, mechanical, photocopying, recording, or likewise. For information regarding permission(s), write to: Rights and Permissions
Department, Pearson Education, Inc., Upper Saddle River, NJ 07458.
© 2014 Pearson Education, Inc., Upper Saddle River, NJ. All rights reserved.
This material is protected by Copyright and written permission should be obtained from the publisher prior to any prohibited reproduction,
storage in a retrieval system, or transmission in any form or by means, electronic, mechanical, photocopying, recording, or likewise. For information regarding permission(s), write to: Rights and Permissions
Department, Pearson Education, Inc., Upper Saddle River, NJ 07458.
Categories of Decision
Making Tools
• Certainty
• Risk
• Uncertainty
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Decision Making Certainty
• Linear Programming
One of best known tools of
Management Science
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Linear Programming
• Decision Variables
• Objective function
• Constraints
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Decision Making Under Risk
• Expected Value
• Decision Trees
• Queuing
• Simulation
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Decision Making Uncertainty
• Maximax
• Maximin
• Hurwicz
• Equally likely
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Other Techniques
• Six Thinking Hats
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