Chemical Engineering - Decision and Risk Analysis IENG 4574   Decision and Risk Analysis
CREDIT HOURS: 3
This course teaches the principles and applications of decision analysis. The cognitive processes involved with information acquisition, judgment, value assessment, and decision-making are presented. Methods for scoping a decision-making problem, decomposing it into elements, establishing criteria, and evaluating the options are discussed. Probability assessment under uncertainty, decision trees, value of information, utility theory, and multiple-agent contexts are explored to address increasingly complex scenarios.
FORMAT:

• Lecture
• Lab

LAB HOURS PER WEEK: 2
PREREQUISITES: For students entering Upper Division in 2017/18: IENG 3302.03, IENG 3303.03, IENG 3305.03, IENG 3316.03, IENG 3344.03, IENG 3304.03, IENG 3320.03, IENG 3334.03, IENG 3337.03, IENG 3345.03 For students entering Upper Division prior to 2017/18: IENG 3301.03, IENG 3303.03, IENG 3305.03, IENG 3316.03, IENG 3344.03, IENG 3320.03, IENG 3321.03, IENG 3334.03 or STAT 2080.03, IENG 3345.03, IENG 3348.04 or IENG 4548.03
RESTRICTIONS: Minimum of 30 credit hours