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Advanced Decision Making for Engineering Managers

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Department of Mechanical and Industrial Engineering ... Half lecture. Half discussion. 7. Grading Percentage. Mid-term Exam (I) 30% Term Project Report (T) ... – PowerPoint PPT presentation

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Title: Advanced Decision Making for Engineering Managers


1
Advanced Decision Making for Engineering Managers
  • Introduction
  • Hongyi Chen
  • Department of Mechanical and Industrial
    Engineering
  • University of Minnesota Duluth

I would like to thank Dr. Dundar F. Kocaoglu for
his help with this class.
2
Todays Plan
  • Introduction
  • Self introduction
  • Course introduction
  • Syllabus
  • Introduction to Decision Making

3
Self Introduction
  • Name
  • Major
  • Research interests
  • Why do you take this course

4
Course Objectives
  • To develop an understanding of decision-making
    methodologies and concepts, and apply them to
    technical decisions
  • To give practicing managers a toolkit to
    successfully develop a decision making process.

5
Required Readings
  • Textbook R. T. Clemen, T. Reilly, Making Hard
    Decisions with DecisionTools, 2nd edition,
    Duxbury Thomson Learning, 2001
  • (two different levels of reading requirement)
  • Journal and conference papers covering a variety
    of topics will be assigned

6
Course Format
  • Half lecture
  • Half discussion

7
Grading Percentage
  • Mid-term Exam (I) 30
  • Term Project Report (T) 25
  • Reading briefs (T) 20
  • Case study reports (T) 10
  • Team Presentations (T) 5
  • Homework (I) 5
    (bonus)
  • Class participation (I) 10

For all the team reports, your individual score
grade given to your team (work satisfactorily
completed by you / work assigned to you)
8
Reading Briefs
  • Brief summary of the article(s)
  • Key learning
  • How the concepts/methods learned can apply to
    your job, your career, or other areas of interest
    to you
  • Bring the decision issues up to date and discuss
    what could have been done differently to keep the
    model valid in todays situation
  • Points that you have difficulty with (whether you
    do not understand or do not agree)
  • Question(s) for class discussion (submit high
    value questions (make us think) on a particular
    aspect/concept, issues etc., for discussion in
    class.)
  • Articles listed in each RB may be assigned to
    different teams.

9
Case Studies
  • Summarize the case
  • Identify facts and issues presented in the case
  • Analyze the situation
  • Discuss the results
  • Make recommendations
  • Elaborate on additional considerations
  • Submit a hard copy of the team report for each
    case addressing items 1-6 above.
  • Present the case and discuss it in the class.
  • (One of the teams takes the lead in the
    presentation. The other teams participate in the
    discussions. Team members highlight the issues,
    ask questions, answer other teams questions,
    make recommendations, challenge others
    recommendations, identify and explore additional
    issues.)

10
Team Project
  • Topic is up to student, but it must be related to
    decision makings.
  • Topic should advance students career or be
    something the student enjoys.
  • 25 of course grade (presentation)
  • Minimum Length 15 pages of text (double space)
  • Maximum Length 20 pages excluding tables,
    pictures, figures, captions, appendices and
    references.
  • Students will submit a written proposal on March
    8th.
  • Instructor will provide feedback in the following
    week.
  • Final paper is due on May 8th.

11
Team Project
  • A theoretical model developmentConduct
    literature research in the filed of decision
    makings, identify a literature gap or a
    theoretical model that needs improvement, propose
    your solution or develop your own model, verify
    your model with data, and discuss application
    fields, limitations and future works of your
    model.
  • A practical applicationIdentify a critical
    decision problem and a decision making process
    from your work or in your interested field, apply
    concepts and techniques learned from the class to
    analyze the problem, make justified assumptions
    as needed, develop a decision model, propose your
    solutions, and discuss assumptions and
    limitations of your analysis.

12
Potentially Excellent Research Topics
  • This is a decision model proposed by literatures.
    However, it has the following limitations and we
    will improve this theoretical model by addressing
    these limitations.
  • This is a relevant decision making concept/method
    that is not discussed in the class. We are going
    to research on it and demonstrate its application
    through our example.
  • This is an issue that our organization deals with
    on a regular basis. However, there is not a
    standard process to ensure consistent decision
    makings. We will help our organization build such
    a standard decision model.
  • We recently encountered this problem at work/in
    our life, we are going to propose solutions to
    the problem by applying concepts and
    methodologies acquired from this class.
  • We are very interested in one of the decision
    model discussed in this class and we are going to
    show its applications in a field different than
    those covered in literature.

13
Soso Research Topics
  • My boss is a bonehead. I have been telling
    him/her how to do it right for years. But
    noooooo!!!!!! Now I am going to use science to
    prove my point.
  • I once used this concept/model/tool to make a
    decision and I want to tell you about it.
  • I can find all kinds of decision making concepts
    we learned in class at work.
  • There are all kinds of examples of this one
    specific decision making concept at work.
  • This is our companys decision making process.

14
Structure of Typical Research Paper
  • Abstract (ltlt 150 words)
  • Introduction (Research question, thesis
    statement)
  • Literature search
  • Discussion of research method
  • Results Evidence
  • Conclusion, implications, limitations and
    suggestions for future research

15
The Proposal
  • Proposal should consist of..
  • A Title
  • An abstract (ltlt200 words) that summarizes the
    paper
  • Introduction
  • Paragraph 1 ____ has been shown to be an issue.
  • Paragraph 2 Research question What are we
    going to investigate?
  • Paragraph 3 Thesis statement In this paper we
    intend to show that
  • The beginning of a literature review What have
    others said about this subject?
  • A few words on research methods How will we
    approach this problem? Where to find data?
  • Key diagrams, tables and captions

16
Data Collection
  • Objective and/or subjective data should be
    collected for your decision model(s) from various
    sources including but not being limited to
  • literature,
  • interviews,
  • publicly available documents,
  • quantification of the judgments of people
    involved in the decision making process that you
    are studying,
  • quantification of team members judgments,
  • quantification of fellow students judgments.

17
Writing the Final Draft
  • Take a look at instructors recommendation.
  • Execute on the proposal.
  • Goal First draft for publishable paper
  • e.g. ASEM 2007, PICMET 2008, DSI 2008

18
Academic Integrity
  • All help that the student has received must be
    documented.
  • All materials by prior authors that the student
    has used must be referenced and listed in the
    paper.
  • This includes material from the Internet
  • Please cite your references using IEEE
    transactions format.

19
Grading Criteria
  • The authors are familiar with the existing state
    of knowledge
  • The topic is relevant to the scope of this class
  • The paper makes a valuable contribution to the
    practice of Decision Making
  • The paper is logically technically correct
  • The interpretations conclusions are sound
    justified by the results
  • The title and abstract are appropriate
  • The paper is well presented organized
  • The writing style/English is clear
    understandable
  • The references are adequate

20
Reports Format
  • Times New Roman
  • 12 point font size
  • Double space
  • Single column
  • 1 margins
  • All reports should be submitted in both hard copy
    and electronic format (email attachment)

21
Class Participation
  • Strongly encouraged
  • Amounts to 10 of grade
  • Consists of thoughtful participation in class
    discussion.
  • Requires one to two hours of strategic reading
    before every class.
  • Student learn from each others experience.
  • Instructor also learns from students.
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