Theory and practice of decision analysis and risk assessment. Covers decision theory, game theory, utility and risk attitude, probability assessment, multi-criterion decision making models, Value of information in decision making, decision trees and influence diagrams, building decision support systems, and model-driven decision making, tradeoffs and decision making under uncertainty and risk. Describes practical applications through real-world engineering /project management decision analysis applications. Computer applications.

Pre-requisites: CRP505 Or OM502