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Create an Excel model and evaluate using Decision Analysis and Monte Carlo practices the case study framed in Session 1

A workshop by Brian Putt
Decision Quality Consultant, Putt DQ Consulting

14 October 2020, 02:00 PM

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About this workshop

Join Brian Putt and Alex Sidorenko in this second session where we create and Excel model for the case study framed in Session 1 using Decision Quality practices and Monte Carlo to complete the evaluation.

Watch session 1 now https://2020.riskawarenessweek.com/talks/experience-a-practical-example-of-applying-decision-quality-framing-practices-to-a-case-study/

Alex, acting as the subject matter expert (SME) reviews and adjust the inputs and logic of the model as Brian, the analyst, makes live changes to the model.

We evaluate the Strategy Table using SIPmath Enterprise and review the results. We test sensitivities manually and then create a tornado chart for each of the alternatives.

Alex, now acting as the Decision Executive, must make a tradeoff between two key value measures - Cost and Time.

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Brian Putt

Brian is currently a Decision Quality Consultant to assist organizations in making good decisions using probabilistic analysis. He maintains a YouTube Channel that include a number of instructional videos on Excel and SIPmath applications. After retirement from Chevron in 2016 he has volunteered with the non-profit Probability Management (www.probabilitymanagement.org) to promote Decision Quality using SIPmath. Brian is also active in the Society of Decision Professionals (SDP) and is chairing the Greater San Francisco Bay Area Chapter which brings together practitioners of Decision Quality and other individuals such as Data Scientists that are interested in the subject with the objective of promoting better decision quality. He also leads an SDP interest group on Cost and Schedule Risk analysis.

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