Decision Analysis and Value of Information

Explore the foundations of decision quality and how to use a rigorous analytic framework to make better decisions in your personal and professional life.

Sessions Print this Page

Overview

Most of us were never trained how to make good decisions. A primary reason for this seems to be, as we explore in this course, an unfounded belief that we are naturally good at making decisions. We do it every day, after all. Yet, the research is overwhelming that individuals are prone to many decision-making mistakes, even in simple situations. This problem is even more prevalent when we must make decisions under uncertainty. In this course, we will discuss how you can become better decision makers in both your personal and professional lives.

Strategic Decision and Risk Management

Clarify problems, explore available options, develop a structured framework, understand the impact, and commit to your choice.

Two & Half Day Concentrated Program

Registration begins 30 minutes before class starts. Classes beginning on Monday start at 8:00 am and conclude at 12:00pm on Wednesday. Classes beginning on Wednesday start at 1:00 pm and conclude at 5:00 pm on Friday.

Austin, Texas

Enjoy proximity to the vibrancy of the campus and downtown Austin, and the innovative, business-friendly environment of the city.

Benefits

  • Develop tools and mental frameworks that will allow you to deal effectively with uncertainty
  • Revise your beliefs after gathering additional information using proven methods
  • Examine and quantify the value created by gathering additional information
  • Quantify your appetite for risk and how to factor this into your decision making
  • Avoid the pitfalls that can degrade our decision making
  • Think clearly and insightfully about the decisions you face
  • Explore methods to trade off competing value metrics and objectives
  • Guide others in improving their decision making

Additional Information

Prerequisites:None
CEUs: Participants earn 1.75 CEUs and/or 17.5 CPEs for this course. A certificate of completion will be presented from Texas Executive Education.
Course Credits: 1.50
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 on the course materials page after class registration is complete.


Faculty

James Dyer

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).

Continue Reading
Eric Bickel

Dr. Eric Bickel is Associate Professor and Director of the Graduate Program in Operations Research & Industrial Engineering at The University of Texas at Austin. In addition, Dr. Bickel holds a courtesy appointment in the Department of Petroleum and Geosystems Engineering in the Cockrell School of Engineering.

Continue Reading

Course Details

Price: $3,495.00

Decision Analysis and Value of Information

Date
Duration
Location
Instructor

11/14/18 - 11/16/18

2.5-Days

Rowling Hall W 20th St Austin, TX 78705

James Dyer
Eric Bickel