Decision Making Skill

Learning Outcomes

Upon successful completion of this course, students are expected to be able to apply systematic approach and integrative thinking in making decisions involving multiple objectives; to formulate effective decisions that facilitate better insights and communications; to identify and analyse inherent biases, risks and uncertainties in decision-making process; and to evaluate the framing effects faced by decision-makers

Topics

This course focus on 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.