Effective Decision Making for Engineering Managers (Synchronous e-learning)

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.

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