Decision Model Under Uncertainty

Learning Outcomes

Upon successful completion of this course, students are expected to be able to: analyze risks and create business problems solutions using the appropriate tools and techniques; apply systematic and integrative thinking in the decision making process; analyze data related to the environment to identify and evaluate potential opportunities and threats; transform data into actionable information by applying the appropriate tools and techniques, using the suitable IT or computer program.

Topics

This course provides an overview of the theory and models that can be used to make optimum decisions when facing uncertainty. It will cover different business areas including production, operations, marketing, logistics and finance. At the end of the course, students will know what models to use for what situations and how to incorporate uncertainty into them using a wide range of techniques such as: decision trees, Monte Carlo simulation and stochastic optimization.