Enterprises University of Pretoria. Decision and Risk Management

Decision and Risk Management

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Brief Description

The actions taken by its decision-makers influence the performance of any organisation. Being able to predict the expected outcome of a specific set of actions may significantly affect the performance of an organisation. Thus, decision-makers must be able to identify risks and opportunities, effectively analyse the potential outcomes and choose between alternatives. This course will illustrate the importance of systematic decision making in managing risks and opportunities. Different decision-making techniques will be presented, and the student will apply these techniques to practical scenarios.

Learning Outcomes

After successful completion of the course, you will be able to:
• Comprehend techniques that will assist with identifying risks
• Differentiate between intuitive and analytical decision making and which is best to apply when
• Construct a decision framework for a decision problem
• Use mathematical modelling to analyse decision parameters
• Prioritise actions based on the expected outcome
• Categorise data-driven decision-making techniques

Course Content

• Risk identification
• Intuitive decision making
• Analytical decision making
• Data-driven decision making
- Probability analysis
- Sensitivity analysis
- Action prioritisation
- Data Science, Artificial Intelligence, Machine Learning and Deep Learning

Entry Requirements

The Prospective delegates should at least have a three-year qualification and/or work experience

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Course Number:

P007774

Catalogue and Category:

Engineering and Technology Management

Who Should attend:

This course is ideal for individuals that want to improve their risk management and decision management skills. The focus will be on decisions that impact organisational performance.

Delivery Mode:

Online

Contact Days:

Research Solutions

Business Units

Fourth Industrial Revolution