Decision Analysis

Dr Keerti Jain

When faced with a complex, uncertain problem, how does one make a good decision? As a normative science, decision analysis provides a logical framework for structuring and evaluating a decision scenario, with the goal of obtaining clarity of action. This framework involves formulating creative alternatives, characterizing uncertain events, and incorporating the decision-makers values and preferences. Topics covered include decision trees, value of information, risk preferences, and Monte Carlo simulation. This course aims to improve the understanding of quantitative decision-making for management. The course objectives are to: • Develop an understanding of how quantitative tools and analysis may lead to improved decision-making. • Improve your quantitative reasoning ability

Who will benefit

Anyone who wants to imporve the decision making.