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Decision models are created to generate insights that can guide and inform strategic decision-making. This class will equip you to answer questions including, which strategic alternative creates the most value? Why is it better than the others? How much risk does it entail? What are the most important sources of risk? You will create models, extract powerful insights and be prepared to present analysis results to those who make complex strategic decisions.

Benefits
•Use influence diagrams to help structure a model
•Design models with a parametric approach to maximize insights
•Anticipate decision-makers’ questions and design in features to answer them
•Learn gold standards for developing decision models in spreadsheets
•Build a decision model for a typical business strategy situation
•Discover how to create flexible models that allow you to analyze multiple strategic alternatives
•Learn best practices for diagnosing and preventing errors in your model
•Understand sensitivity analysis and the information it provides
•Conduct probabilistic analysis to general additional insights and understand risk
•Identify how to effectively communicate the insights derived from your model

Lecture dates: 12 - 14 December 2018 (2,5 days)

Location: University of Stavanger

Admission requirements: It is recommended that attendees have a bachelor’s degree and at least three years of work experience.

Language: English

Price: NOK 28.000

Lecturers:

Reidar Brumer Bratvold

Dr. Reidar Brumer Bratvold works at the University of Stavanger and at the Norwegian Institute of Technology where he is teaching and supervising graduate students doing research in decision analysis, project valuation, portfolio analysis, real-option valuation and behavioural challenges in decision-making.

Eric Bickel

Dr. Eric Bickel is Associate Professor and Director of the Graduate Program in Operations Research & Industrial Engineering at The University of Texas at Austin. In addition, Dr. Bickel holds a courtesy appointment in the Department of Petroleum and Geosystems Engineering in the Cockrell School of Engineering.

 

Administration:
Frode Leidland
frode.leidland@uis.no
Telefon +47 51 83 30 91/+47 920 76 955

Programcourse leader:
Reidar Brumer Bratvold
reidar.bratvold@uis.no
Telefon: +47 51 83 2260/+47 97651969

Publisert 07.08.2018