Course Description

Decision-making is a primary function and responsibility of management. That onerous responsibility is burdened by the fact that experience, intuition and smart guesses can no longer guarantee a successful resolution of business decision problems in today’s complex and highly competitive business environments. The use of proven techniques in decision analysis and modelling is highly necessary. This course covers basic decision analysis techniques, including how to model decisions, uncertainties and preferences.

Expected Learning Objectives

At the end of the course, participants will:

  1. Develop quantitative models for unstructured decision problems by identifying controllable factors, uncontrollable factors, performance measures, and relationships;
  2. Develop and analyze financial planning models and perform sensitivity analysis to identify critical factors;
  3. Learn how to reduce the cost and time to gather, design and model business rules by up to 50% when compared with previous approaches;
  4. Be able to significantly reduce the costs of implementing and managing business rules automation;
  5. Be able to rapidly develop business rules and model them into Decision Models;
  6. Measure uncertainty using probability, and perform Monte Carlo simulation to gain insight into practical business problems;