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Risk Simulation and Queuing

Seminar #73106 OnDemand

Make optimal decisions by incorporating information derived from models

Learn how to construct and implement simulation models to model the uncertainty in decision input variables. You will supplement the overall estimate of interest from a model with a risk interval of possible other outcomes and the variability in arrivals over time and ensuing queues. You will also employ decision trees to incorporate information derived from models into your decision-making.

The discussion starts with risk analysis, segues to advanced simulation and queuing before amplifying multistage decision problems.

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Schedule

  • [4] weeks - $629

Credits

5 CEU

AMA PDF Course Packet
The PDF Course Packet includes Curriculum and other information that can help convince your manager of the value.

Schedule

We have 1 scheduled sessions located nationwide starting between 5/1/2015 - 5/1/2015

Date Location Duration Attendees  
May 1, 2015 - May 28, 2015 OnDemand 4 Weeks
Registering more than 4  people, please call 1-877-566-9441.

How You Will Benefit

  • Set up a model to assess risk with an interval of likely outcomes 
  • Construct decision trees to make optimal decisions in the face of uncertainty 
  • Set up models to predict the growth and progression of queues 
  • Use Excel-based tools to implement these models

Learning Plan

Week 1: Risk Analysis 
  • Simulation 
  • Interpreting output 
  • Implementing & optimizing the model

Week 2: Advanced Simulation 

  • Poisson distribution, arrival rate 
  • Service rate 
  • Operating characteristics

Week 3: Queuing 

  • Mastering complexity 
  • Payoff matrix 
  • Decision rules 
  • Expected monetary value 
  • Expected regret 
  • Expected value of information 
  • Decision trees

Week 4: Multistage Decision Problems

  • Risk profile 
  • Sensitivity analysis 
  • Tornado charts 
  • Using sample information 
  • Conditional probabilities 
  • Utility functions

Who Should Attend This Course

Risk managers, financial analysts, project managers, operations managers, and others with responsibility for specifying, creating, deploying, or interpreting risk analysis and queuing models. Users of risk analysis or queuing software who need to attain a more solid grounding in the subject.
 

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Transfer, Cancellation and Refund Policy

For Classroom, Live Online, and Webinar programs, you may transfer to a future session, send someone to take your place or cancel without penalty at any time up to three weeks prior to your program. If you provide AMA with less than three weeks notice, or fail to attend, you will be liable for the entire program fee.

Programs included in AMA OnDemand offerings are not eligible for substitution, transfer, cancellation, return, or refund.

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We appreciate that this is an important investment for you and your company and would like to accommodate your needs the best we can. Therefore, please call us at 1-800-262-9699.

 

 

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Yes, federal government employees are eligible for special GSA pricing for many seminars. Call 1-877-566-9441 or visit our Government Services site for more information.

 

 

 

 

 

 

 

 

 

 

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3 Seminars for $4,995

Making your training dollars go further by sending as many as three people to AMA Seminars in a six-month period. This offer is applicable to all U.S. Classroom and Live Online Seminars with a member price of $2,395 or less, or nonmember price of $2,645 or less. Past purchases and other promotional offers are excluded. Prices are subject to change without notice.

Call 1-877-566-9441 and mention code LA3Y for additional questions and to register.

 

 

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These offers are valid only when applied to new registrations and cannot be applied to transfers, cancellations or GSA pricing. Prices and schedules are subject to change without notice. Offers cannot be combined.

SEMINAR SAVINGS PASS – 3-Pack, 6-Pack, 12-Pack, & 24-Pack: This offer is applicable to all AMA U.S. Classroom and LXL Live Online Seminars with a member price of $2,395 or less, or nonmember price of $2,645 or less. Third party-delivered programs available through AMA and LXL Express Skills Series courses are excluded. Past purchases and other promotional offers are excluded. Attendance must be completed within six months for 3-Pack/12 months for 6-Pack, 12-Pack, & 24-Pack of purchase date. This is a call-in offer only.

ANNUAL PASS: Annual Pass purchasers may choose from all AMA U.S. Classroom and LXL Live Online Seminars with a member price of $2,395 or less, or nonmember price of $2,645 or less. Premium Annual Pass purchasers may choose from all AMA U.S. Classroom and LXL Live Online Seminars. Third party-delivered programs available through AMA and LXL Express Skills Series courses are excluded from both Annual Pass and Premium Annual Pass redemption. Past purchases and other promotional offers are excluded. Annual Pass and Premium Annual Pass fees are nonrefundable, regardless of attendance. Your pass will be activated on the start date of the first seminar you register for using the pass and will expire one year later. The pass may only be used by the person designated on the pass and may not be sold, transferred or assigned in any manner. All attendance must be completed by the pass expiration date. If left entirely unused, the pass will expire twelve months from the purchase date. Photo identification will be required when attending a seminar. This is a call-in offer only.

BRING A FRIEND: Past purchases and other promotional offers are excluded. Third party-delivered programs available through AMA and LXL Express Skills Series courses are excluded. This is a call-in offer only.

LAST MINUTE SEATING: Past purchases and other promotional offers are excluded. Third party-delivered programs available through AMA and LXL Express Skills Series courses are excluded. This is a call-in offer only.

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AMA provides two online payment options for your convenience:

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Please call us at 1-877-566-9441 should you have any questions regarding our payment options.