Advanced Decision Analysis
As the world’s problems, both private and public, become more complex and more global, decision analysis has an increasingly important role to play to help decision makers gain a greater understanding of the problems they face and the environment in which those problems must be addressed. The objective of Decision Analysis is to provide one with the understanding and tools of decision analysis to make one a better manager. Understanding, together with supporting data, information, and knowledge, is essential to support one in decision making and problem solving in the present dynamic world of globalization, multi-national corporations, and technological innovation. To gain that understanding, one needs to know how to frame the right question, how to develop an appropriate model or paradigm to analyse the problem, evaluate the different solution alternatives, so that one can make the right decision at the right time. This course aims to make decision analysis more understandable and therefore become more accessible for potential decision makers.
This course is divided into two modules over 5 days as follows.
- Module 1: Basic Decision Analysis (3 days)
- Module 2: Advanced Topics in Decision Analysis (2 days)
- Module 1 + Module 2: Advanced Decision Analysis
The participants can do either Module 1 or both Modules. However, Module 1 is a prerequisite for Module 2
Who should attend:
The course is valuable for anyone faced with complex and continually changing decision problems in public or private sector organisations or communities.
Prerequisite: The course ‘Basic Decision Analysis’ is a prerequisite
Module 1: This three-day course addresses problems that can be addressed through Decision Analysis tools. The course addresses the concepts of analysis and introduces few basic decision analysis tools such as heuristic decision making, payoff matrices, single and multiple criteria decision analysis involving uncertainty and risk, AHP, SMART, Monte-Carlo simulation, and resource allocation and negotiation models.
Module 2: This two-day module builds upon the course “Basic Decision Analysis”. The course addresses the concepts of decision-making using decision models, decision trees, probability theory, Bayesian analysis, utility functions, software approaches to decision analysis and scenario planning using decision analysis.
The participants will learn a good number of decision analysis tools and techniques that may be used to solve practical decision making problems.
Statement of Attendance is provided upon completion. However, to obtain competency certificate, the participants must demonstrate their knowledge gained in the course by completing a few small scale problem solving exercises during the course.
Prof. Charles S Newton obtained his PhD in Nuclear Physics from the ANU in 1975. He is an Emeritus Professor in the School of Engineering and IT, UNSW Canberra. He was the Head of the former School of Computer Science (currently a part of School of Engineering and IT) from 1993 to 2003. He was the President of National Committee of the Australian Society for Operations Research (ASOR) in 1995-96. He is the co-author of the book Optimization Modelling: A Practical Approach, Taylor & Francis /CRC Press, Boca Raton. Prof. Newton is well-known, both nationally and internationally, for his practice in Operations Research specifically for defence related problems.
Prof. Ruhul A Sarker obtained his Ph.D. in Operations Research from Dalhousie University (former TUNS), Halifax, Canada in 1992. He is currently a Professor in the School of Engineering and IT, co-ordinator of the Master of Decision Analytics program in the school, and the Director of Faculty Postgraduate Research at UNSW Canberra (located at ADFA), Australia. He was the Deputy Head of School (Research) from 2011 to 2014. Prof. Sarker’s broad teaching and research interests include decision analytics, computational intelligence, operations research, and applied optimization. He is the lead author of the book Optimization Modelling: A Practical Approach, Taylor & Francis /CRC Press, Boca Raton. Prof. Sarker has successfully obtained more than $1.5million external research grants. He was a member of the national executive committee of the Australian Society for Operations Research (ASOR) and Editor-in-chief of ASOR Bulletin from 2000 to 2011. As recognition of Prof. Sarker’s contributions to ASOR and Operations Research, ASOR awarded him an ASOR Medal (2011) and Special Service Certificate (2009). Currently, he is an associate editor of three international journals.