Dr. Howard coined the term decision analysis
in 1964 to refer to a new discipline that addressed decision-making in a formal, quantitative manner. Now, more than 50 years later, the field is securely embedded in public and private enterprises that use its principles to reach clarity when decision making is clouded by uncertainty, complexity, dynamics, or many parties with conflicting opinions.
The course combines Dr. Howard’s renowned Socratic method of instruction with experiential learning, group work, and individual study. Course material is drawn from his Stanford graduate-level courses. To amplify the learning experience, each day DA professionals assist participants in formulating and solving illustrative and practical decision problems. The combination of lectures, exercises, and probing classroom discussions will leave you with new and unexpected insights into the most fundamental aspects of decision making. Topics include:
- Characterizing decisions by designing clear and powerful distinctions
- Understanding the rules of thought that should guide action-and why we routinely violate them
- Evaluate alternatives with complex, uncertain, and far-reaching consequences
- Creating compelling arguments for action.
Dr. Howard also discusses the application of these fundamentals when answering questions such as:
- What is the best strategy in a bidding situation? How does it change with auction type? How might I both win and lose?
- How should a risk-sharing agreement be structured-or a joint investment or partnership-so that I optimize my share?
- How can I make decisions that might put my life or the lives of others at risk, in a rigorous and defensible way?