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This hands-on introduction to Decision Analysis gives you the tools required to make better, more informed and justifiable decisions. The focus is on thinking creatively about issues and then applying structured, formal analysis to spur action. A range of tools are considered, providing a comprehensive toolkit for those willing to enhanced the effectiveness of their organizational, or personal, decision-making.
The focus of this course is on lightweight, rapid, "agile" modelling---cycling rapidly between problem, definition, analysis, conclusions and actions. Emphasis is placed on structuring of assumptions, as opposed to mathematical modelling.
The course does not provide a "deep dive" into the techniques presented. It is intended to give you an overview of the field and act as a foundation for deeper study of the techniques that are most appropriate to your current and/or future decision-making needs.
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Guaranteed to Run
When you see the "Guaranteed to Run" icon next to a course event, you can rest assured that your course event — date, time, location — will run. Guaranteed.Participants should be familiar with Microsoft Excel and be able to understand basic mathematical concepts (high-school level).
Anyone who is involved in decision-making! Including those who are looking to make important personal decisions, or those who support decision-makers.
Executives (decision-makers), project managers, strategy analysts, business analysts are data scientists are all formal job roles that would obviously benefit from the course, but everyone is involved in making decisions at some level. Participants should be familiar with Microsoft Excel.
Decision analysis is a formal, structured, systematic and visual approach to evaluating problems that leads to decisions and action. It utilizes a range of methods, models and tools to aid in the capture, analysis and synthesis of information---both qualitative and quantitative---that is germane to the issue at hand. You can utilize decision analysis at different scales---from personal decision-making to long-range international policy planning. Tools commonly used by decision analysts include decision trees, game theory, statistical modelling and simulation.
Decision analysis removes the need for key business decisions to be made on "gut feel". Formalizing the decision-making process foster collaboration, and allows decisions to be reviewed and audited prior to irreversible decisions being taken. The ability to show a clear decision path can be invaluable in highly regulated industries. Companies such as Chevron have made decision analysis a core competence.
Participants should be familiar with Microsoft Excel and be able to understand basic mathematical concepts (high-school level).
Yes. There are various opportunities to build model and analyses issues throughout the period of the training.
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