Steps in Decision Analysis taking into account Economic evaluation
Discussion of tools and techniques for conducting deterministic and probabilistic economic evaluation. Including Tornado Diagrams, Decision Trees and Monte Carlo analysis. Takes the participants through initial stages of model appraisal and why you would do deterministic assessment and tools that would help determine the input information that is key for the decision. Building on this the participants are introduced to probabilistic assessment and why use and what insights can be derived from this approach.
Economists, technical disciplines moving away from solely deterministic modelling approaches. Pre-requisite is the Petroleum Economics training sessions.
60-90 mins x 5