About this Course
This course prepares you to apply decision analysis tools and processes to solve complex decision problems. We’ll explore the nature of complex decisions, the role of decision analysis, and some of the limitations of human decision heuristics. You’ll review data analysis concepts through statistics and probability modeling. We’ll practice using decision analysis tools and approaches by analyzing real-world engineering decision situations and case studies. By the end of the course, you’ll be able to judge when and under what circumstances decision analysis is appropriate.
What You’ll Learn
- How to use a variety of decision tools, including AHP, inﬂuence diagrams and Monte Carlo simulation
- Concepts related to decision trees and influence diagrams for decision making under uncertainty
- Ways to perform simulations for decision problems, including spreadsheet modeling
- Methods for evaluating decision quality