Strategic Decision Making
Examine tools for modeling decisions involving risk and uncertainty to analyze various problems and make better decisions.
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Uncertainty and complexity make many decisions difficult, especially those involving R&D projects, new products and new ventures. This class introduces decision and risk analysis – the systematic evaluation of decision problems involving uncertainty. Decision and risk analysis breaks decision problems down into more manageable parts and explicitly considers the possible alternatives, available information, and the relevant preferences of the decision makers. The class will discuss methods for structuring and modeling decision problems and apply these methods to a variety of problems that involve risk and uncertainty.
Develop the skills and strategies to make high-level decisions and to execute with confidence company-wide.
Two-Day Concentrated Program
Registration begins at 8:00 a.m. and class runs 8:30 – 4:30 both days with a one-hour networking lunch included.
Enjoy proximity to the vibrancy of the campus and downtown Austin, and the innovative, business-friendly environment of the city.
- Understand the basic tools available for structuring problems involving risk and uncertainty
- Develop the ability to break down problems for analysis
- Examine methods for structuring and modeling decision problems, and apply these methods to a variety of problems that involve risk and uncertainty
- Define alternatives for project execution
- Computer-based risk management
- Qualitative risk metrics and their implementation
- Managing risks by creating options
- Managing risks by obtaining information
- To enhance program learning participants will receive a complimentary copy of “Why Can’t You Just Give Me The Number? An Executive’s Guide to Using Probabilistic Thinking to Manage Risk and to Make Better Decisions,” by Patrick Leach.
CEUs: Participants earn 1.4 CEUs and/or 14 CPEs for this course. A certificate of completion will be presented from Texas Executive Education.
Course Credits: 1.00
Hotel Information: Texas Executive Education classes qualify for discounted hotel room rates at the AT&T Executive Education and Conference Center on a limited basis. Discount code will be provided via email after class registration.
Paul Damien is the B.M. Rankin Jr. Professor of Business in the IROM department at McCombs School of Business. His research interests lie at the intersection of mathematics, Bayesian statistics, and applications in business, engineering, and stochastic optimization.
Dr. James S. Dyer holds the Fondren Centennial Chair in Business in the McCombs School of Business.. He served as chair of the Department of Information, Risk, and Operations Management for nine years (1988-97).
"Both instructors, Professors Damien and Dyer, were truly excellent. The accommodations and food were outstanding -- what a great environment and experience!"
-Joseph Bonnet III
Director Joint Training and Exercises, Norad US North Com