SC04 - DECISION ANALYSIS FOR MANAGERS

Many large corporations use a form of stage-gated process as part of their project development and review process. At each gate, the continuation of the process is typically decided by a manager or a steering committee. The decision is based on the information available at the time, including the business case, risk analysis and availability of necessary resources. Using results from a properly performed decision analysis is an excellent way to communicate decision alternatives, and to bring insight and clarity to each unique business case.

This 1-day course focuses on the management aspects of decision analysis. It covers the fundamentals required to gain insight from decision modelling results (decision trees, optimum path, best alternative decision, real option valuation, tornado diagrams and waterfall diagrams), best-practice workflows, the importance of early phase screening to identify decision alternatives, the use of different types of economic indicators, the relevance of project and portfolio risks and how to handle and optimise projects and portfolios under capital constraints. Examples are used to illustrate how high quality decisions derive from the right combination of thought, collaboration, computation and communication. The course is specifically designed for managers involved in stage-gated decision and review processes.

Attitudes

Background

ENROLMENT