Lab II : Decision Modeling and Analysis using DPL

Objectives

DPL is an industry standard software for performing professional decision analysis by consultants. It supports decision modeling using both influence diagrams and decision trees. It can model assymetic decision models, has extensive tools for generating risk profiles, performing sensitivity analyses (Tornado diagrams, Rainbow Diagrams, etc), expected value of information & control analyses, real options (or managerical flexibility) valuation analysis, etc. It can be linked to Excel spreadsheets and also has a powerful programming language. You can create a decison model by just writing codes with a text editor.

This Lab aims to get you familiarized with the basic functions of the DPL 8 software. At the end of the lab session, you will be able to:

  1. Build decision models using the graphical model editor and input the relevant data such as probabilities and utility function.
  2. Solve the decision models to find optimal decision policies
  3. Generate and interpret risk profiles
  4. Perform and interpret expected value of information and control on uncertain variables.
  5. Perform one way sensitivity analysis and generate rainbow diagrams.
  6. Build sequential decision models with asymmetric structure.
  7. Reorder and modify decision tree structure generated by DPL.
  8. Perform expected value of imperfect information analysis.
  9. Perform two-way sensitivity analysis and generate two-way rainbow diagrams.

Schedule

Please choose one of the following sessions:

Session

Date

Time

Venue

2A

3 Oct 2014 (Friday)

2:00 pm - 4:00 pm

Systems Modeling & Analysis Lab (E1A-05-19/20)

2B

4 Oct 2014 (Saturday)

10:00 am - 12:00 pm

Systems Modeling & Analysis Lab (E1A-05-19/20)

2C

4 Oct 2014 (Saturday)

2:00 pm - 4:00 pm

Systems Modeling & Analysis Lab (E1A-05-19/20)

 

Registation for Lab II

Closed

Materials for Lab II

Lab Sheets, Solution Guides, Pre-built models, and other files

 

Go to Lab I