SYST 473 - Decision and Risk Analysis

Welcome to the SYST 473 webpage!

This course is an introductory treatment of decision analysis. The objective is to provide a modern perspective on some analytical methodologies that support decision-making. Decision analysis offers a set of procedures that assist decision-makers in structuring decision problems, quantifying uncertainty (probabilities of various outcomes estimated through expert judgments and personal beliefs), and quantifying preferences (through structuring value tradeoffs and examining attitude towards risk.)

Textbook and Software

• Making Hard Decisions with DecisionTools Suite, 3rd Edition, by Clemson and Reilly

• DecisionTools from http://www.palisade.com

• Logical Decisions for Windows from http://www.logicaldecisions.com