Decision Policy and Value Calculations Fundamentals

This eLearning course explores the complexities of decision-making, cognitive
biases, and advanced forecasting methods. This course combines theoretical
knowledge with practical tools aiming to enhance participants’ strategic decision-
making abilities.

Target Audience

Geologists, engineers, geophysicists, managers, team leaders, economists, and
planners.

You Will Learn

• Perform mid-period present value (PV) calculations
• Use Excel’s Goal Seek function to solve for internal rate of return (IRR) and other target values
• Use the inverse formula for inflation calculations
• Explain the expected utility (EU) decision rule
• Calculate EUs and certainty equivalents (CEs)
• Describe mathematical optimization and geometric analogies, such as hill-climbing
• Use Excel’s Goal Seek function to solve for internal rate of return (IRR) and other target values
• Apply cost- or time-equivalents to decision criteria and metrics
• Describe everyday cost vs. value tradeoffs in health care, safety, and environment
• Structure and solve multi-criteria decision problems using the Franklin and SMARTER methods

Course Content

• Project Modeling
• Decision Policy
• Multi-Criteria Decision-Making (MCDM)

Product Details