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Decision Analysis will introduce a variety of proven methods of structuring and analysing decision-making problems, and to demonstrate the use of these methods in practical situations.
At a glance
- 08 - 12 Feb 2021
- Duration5 days
- LocationCranfield University at Shrivenham
Short Course for Credit fee - £1,310
Standalone Short Course fee - £1,750
Course structureThis 5 day course is taught by a mix of lectures and exercises, including computer practicals. All delegates receive: a course folder containing all material presented in the course 60 days access to online material via the VLE.
What you will learn
On successful completion you should be able to:
- structure decision problems using a pay-off matrix and analyse the pay-off matrix under conditions of uncertainty, risk and competition
- structure and analyse sequential decision problems using a decision tree
- structure and analyse decision problems using Bayesian networks and influence diagram decision networks
- structure and analyse decision problems based on using expert judgments
- explain and apply the different approaches used in multiple criteria decision analysis.
- an introduction to decision analysis
- decision trees
- pay-off matrices
- influence diagram decision networks
- Bayesian networks
- decision under competition or conflict – Game Theory and its extensions
- multiple-criteria decision making, including the Simple Multi-Attribute Rating Technique (SMART) and the Analytic Hierarchy Process (AHP)
- consensus methods
- problem structuring and soft methods
- software for decision analysis.
Upgrade to a professional qualification
When taken as a Short Course for Credit, 10 credit points can be put towards the Military Operational Research MSc.
Find out more about short course credit points.
Who should attend
Suitable for scientists, engineers, and numerate analysts and consultants who need to support decision makers.
Students must have successfully completed Introduction to Operational Research Techniques in order to take this as a Short Course for Credit. There are no prerequisites if taken as a Standalone Short Course.
Location and travel
Cranfield Defence and Security (CDS) is a Cranfield School based at the Ministry of Defence establishment on the Oxfordshire/Wiltshire borders.
Shrivenham itself lies in the picturesque Vale of the White Horse, close to the M4 motorway which links London and South Wales. It is 7 miles from Swindon, the nearest town, which lies off the M4 at the hub of Britain’s motorway network.
Bath, Cheltenham, Bristol and Oxford are all within an hour’s drive and London less than two hours away by car.
All visitors must be pre-booked in at reception by the person they are visiting on the campus.
Read our Professional development (CPD) booking conditions.