Formulating models and making engineering decisions about systems and systems of systems operating under uncertainty; review of probabilistic modeling and statistical analysis; risk analysis and assessment for complex stochastic systems; mathematical decision theory, heuristic decision methods, value-driven decision making, sequential decision problems, real options theory and deferred decision making. Credits 3. 3 Lecture Hours.
Formulating models and making engineering decisions about systems and systems of systems operating under uncertainty; review of probabilistic modeling and statistical analysis; risk analysis and assessment for complex stochastic systems; mathematical decision theory, heuristic decision methods, value-driven decision making, sequential decision problems, real options theory and deferred decision making. Credits 3. 3 Lecture Hours.
