SHA575 - Optimization and Modeling Simultaneous Decisions

Course Description

In business, we don’t often have the luxury of making one decision at a time; instead, we usually face multiple decisions at once, in highly complex situations where each decision has potentially far-reaching impacts. In this environment, professionals need a robust, quantifiable understanding of these ripple effects in order to meet business objectives and raise the odds of decision-making success. In this course, you will create and use data models for optimizing decision making in situations where resources are constrained—and two or more decisions whose consequences interact must be made simultaneously.

These courses are required to be completed prior to starting this course:

• Understanding and Visualizing Data
• Implementing Scientific Decision Making
• Using Predictive Data Analysis
• Modeling Uncertainty and Risk

Faculty Author

Benefits to the Learner

• Create an optimization model
• Solve a linear model in Excel using the Solver add-in
• Make tactical decisions using shadow prices
• Set prices in a non-linear model Approximate an optimal solution for a non-linear model
• Use summary statistics to approximate optimal results for a stochastic problem

Target Audience

• Analysts
• Functional Managers
• Executives
• Consultants
• Any professional that uses data to make business decisions

Accrediting Associations

• Project Management Institute (PMI) Approval Number 2646R0S3ZS 10.0 Units
• International Institute of Business Analysis (IIBA) 10.0 Hours