CIE586 Construction Decisions Under Uncertainty

[3–0, 3 cr.]

Application of decision analysis theory to construction project and organization decisions under uncertainty; 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 GNE331 Probability and Statistics.