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EMGTÂ 54403. Decision Models. 3 Hours.
Focus on quantitative decision models for technical and managerial problems for private and public organizations. Topics include shareholder value, stakeholder value, Value-Focused Thinking, axioms of decision analysis, decision making challenges, decision traps, cognitive biases, decision processes, decision framing, influence diagrams, value hierarchy structuring, designing creative alternatives, single objective models, multiobjective additive value model, swing weights, sensitivity analysis, portfolio decision models with binary linear programming, probability elicitation, Bayes Theorem, decision trees, Monte Carlo simulation, expected value, dominance (deterministic and stochastic), tornado diagrams, value of information, risk preference, utility models, expected utility, and communicating analysis insights. Prerequisite: ·¡²Ñ³Ò°ÕÌý50303 or ±õ±··¡³ÒÌý23104, and must be admitted to the Master of Science in Engineering Management Program, Engineering Management Certificate Programs, be a Non-Degree Seeking Graduate Student, or have departmental consent. (Typically offered: Irregular)
This course is cross-listed with ±õ±··¡³ÒÌý54403, °¿²Ñ³Ò°ÕÌý54403.