Under courses select (engineering risk and decision analysis)
Then select echo 360 recordings
You will see the recordings for chapters 4,5,and 6.
PLEASE WATCH THE VIDEOS TO ASSIST YOU WITH THE ASSIGNMENT !!
Assignment prompt
Identify your own set of alternative used cars and use Logical Decision software to determine the best solution.
Identify your own objectives, measures and weights and completely analyze the optimal solution.
Tasks in assignment
1. Use the internet to identify three actual small used cars in the same general category
o Some of the measures must include data that has probabilistic estimates – such as mpg or cost of operation or repair
2. Create your own hierarchy of objectives and measures (explain any new measures) – in Logical Decisions
o You are allowed to use some but not all of the objectives and measures described in Tables 5.11 and 5.12
o You can eliminate some measures found in the text and add your own.
o You must add at least two measures of your own.
o There should be at least three major objectives and eight measures
3. Assign weights using SMART method
4. Perform comprehensive analysis of alternatives and identify best alternative
5. Determine the robustness of the best alternative to changes in weights and its sensitivity to the uncertainty.
6. Identify and evaluate at least one opportunity for value and/or risk management
