Reflecting back on this class from the beginning, I honestly thought that I was going to dread it. I don’t know why? But I can honestly state that I have gained so much knowledge from this class that I can apply in real life scenario’s, not only in my career but also for personal use and experience. Quantitative analysis can give an outlook for business operations a whole new look and could help maximize there business objectives. The theory behind all of this is to help business with their daily operations, to create a better outlook.
Learning plan 1 we were introduced into this class starting out defining quantitative analysis, techniques of financial, cost effective, as well as risk analysis to contribute optimal performance within a business prospective. Analyzing data and creating decision making tree(s) to determine what the best probability of outcomes could be. With the data that was inputted. Decision trees are created when an organization wanted to inquire about decision making with their organization. There are several aspects that contribute to this process, determining what your objective is and what your end result. The decision making process consists of the following sets to making that decision (Render, B. (2015):
• Define the problem
• Define alternatives
• Define outcomes that are possible
• Define the …show more content…
The shortest route method also was a factor that when I learned and how to apply to several different methods under the correct models. We learned techniques and the way PERT (Project utilizing tool to help control costs)/CMP (has same features as PERT, but allows for use techniques that allows time reduction in projects) can be effective within a business for daily operations and schedules. PERT/CMP is used to maximize the efforts of a project and time scheduled to gain optimal cost effective
Learning plan 1 we were introduced into this class starting out defining quantitative analysis, techniques of financial, cost effective, as well as risk analysis to contribute optimal performance within a business prospective. Analyzing data and creating decision making tree(s) to determine what the best probability of outcomes could be. With the data that was inputted. Decision trees are created when an organization wanted to inquire about decision making with their organization. There are several aspects that contribute to this process, determining what your objective is and what your end result. The decision making process consists of the following sets to making that decision (Render, B. (2015):
• Define the problem
• Define alternatives
• Define outcomes that are possible
• Define the …show more content…
The shortest route method also was a factor that when I learned and how to apply to several different methods under the correct models. We learned techniques and the way PERT (Project utilizing tool to help control costs)/CMP (has same features as PERT, but allows for use techniques that allows time reduction in projects) can be effective within a business for daily operations and schedules. PERT/CMP is used to maximize the efforts of a project and time scheduled to gain optimal cost effective