CIE780 Construction Decisions under Uncertainty

[3–0, 3 cr.]

Advanced applications of decision analysis theory to construction project. Decision trees and sensitivity analysis, utility assessment, multi-attribute utility theory, multiple sampling and decision strategies; bidding theory and use of probabilistic modeling and Monte-Carlo simulation to determine optimal bidding strategies.

Pre-requisites: CIE480 Civil Engineering Management Fundamentals and GNE 331 Probability and Statistics