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Course Description

As computational simulation becomes more commonplace in design and decision processes, it is important for you to consider how uncertainty could be impacting your perceptions of performance, trade-offs, and consequences. A single simulation can be seen as mapping from your design alternative to its performance objectives based on a single set of assumptions and choices used in the model's representation of the system of interest. Monte Carlo simulation can be thought of as accounting for uncertainties in your modeling assumptions and choices where you can simulate performance if your design resides in many different but plausible alternative worlds (i.e., many states of the world).

In this course, you will broaden the types of performance measures that can be used in your decision framings to include risks and vulnerabilities. You will assess the value of Monte Carlo simulation in better understanding the sensitivities, risks, and consequences of your candidate design alternatives. You will also explore the emerging insights and analytics associated with decision making under deep uncertainty. Given the many ways that our decisions shape concerns surrounding people, profit, and planet, finding solutions that maintain acceptable performance across many plausible futures then explicitly mapping their vulnerabilities is extremely valuable.

Faculty Author

Dr. Patrick M. Reed

Benefits to the Learner

  • Effectively structure and analyze statistical experiments that capture simulation uncertainties and aid in discovering key design sensitivities
  • Determine the assumptions and factors that have the biggest impact on the results of the decision
  • Discover the factors and the specific values of those factors that lead to unacceptable outcomes

Target Audience

  • Engineers in any field, including mechanical, electrical, civil, and environmental
  • Aspiring data scientists, data analysts, and market analysts
  • Anyone who needs to make highly consequential decisions or inform solutions in the face of uncertainty or multiple and conflicting objectives

Applies Towards the Following Certificates

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Enroll Now - Select a section to enroll in
Type
2 week
Dates
Jun 05, 2024 to Jun 18, 2024
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Type
2 week
Dates
Aug 28, 2024 to Sep 10, 2024
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Type
2 week
Dates
Nov 20, 2024 to Dec 03, 2024
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
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