Effective Decision Making for Engineering Managers
Training Provider: NATIONAL UNIVERSITY OF SINGAPORE
Course Reference: TGS-2025057510
S$1,275
Original: S$2,550
Save S$1,275
About This Course
"At the end of the course, participants will be able to:
• Recognise the different types of errors in decision making and how to overcome them
• Apply various decision techniques to quantitatively identify good decisions and eliminate poor alternatives
• Understand, quantify and communicate the risk associated with a decision.
• Identify and valuate risk reduction strategies"
What You'll Learn
Engineering managers are regularly required to make decisions involving multiple conflicting objectives under limited information. In this course, we introduce several decision models (e.g., expected utility theory, prospect theory, regret theory) and techniques (e.g., min-max analysis, sensitivity analysis, risk measures, stochastic dominance, analytic hierarchy process) that can be used to evaluate and shortlist decisions under problem settings that an engineering manager will face (e.g., capacity expansion). In addition, we will discuss commonly observed cognitive biases and how they can be avoided.
Entry Requirements
O' level mathematics, basic familiarity with MS Excel
Course Details
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