Decision and Risk Management
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
Course Number:
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:
Contact Sessions
Contact Days: