Risk Management… Using a Decision Theoretic Approach to Risk Management Saturday, April 25th, 2009, 7:30 a.m. – 4:30 p.m. Dr. Thomas P. Tytula, Speaker Jacobs Engineering Conference Facility

On April 25th, INCOSE Huntsville Chapter will present a tutorial to explore methods for making rational decisions in an environment of uncertainty; i.e., an environment where variability exists with unknown characteristics.  This tutorial covers methods for transforming the environment of uncertainty to an environment of risk that characterizes the variability.

Dr. Tytula will present expected value, transformation of outcomes to a utility measure, eliciting subjective probability measures, the value of information, and sensitivity analysis in the context of managing risk.

This tutorial is targeted to people who:

• Actively perform system engineering,
• Are preparing for the Certified System Engineering Professional examination,
• Work in program/project management,
• Provide input to program schedules,
• Generate cost estimates,
• Prepare or provide input to System Engineering Management Plans,
• Generate risk estimates,
• Prepare or provide input to Risk Management Plans and activities, or
• Participate in or provide support for program decisions.

Please see the linked announcement for additional details, registration information, and event information.