0.b Decision Support and Model Planning

OBJECTIVES

  • Gain an overview of the wide set of issues to consider when engaging on a modelling project.
  • Understand how to make high quality decisions.
  • Learn how to build models to maximise decision quality.
  • Ensure that the models built are as effective as possible in decision support.

DESCRIPTION

  • OverviewThis course covers the issues to consider when planning and designing models, in order to achieve the maximum efficacy in decision support.
  • Practical work and exercises. This course involves reading materials only.
  • Assessment tests. The assessment test is based on the key concepts covered within the reading materials!

KEY TOPICS

  • Principles of modelling for decision support. Generating high quality decisions. Meaning of decision quality. Decision context and framing. The fallacy of choice. Decision identification: scope, objective and criteria.
  • Decision structures: Go/no go, scenarios, sub-options and sequences. Introduction to best practices in model building.
  • Principles of building models (overview). Decisions, sensitivities, transparency and complexity reduction.

Scroll to Top