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Week 8

The document discusses various techniques for technology decision making and resource allocation, including linear programming, decision trees, decision matrices, and sensitivity analysis. It provides an overview of how linear programming can be used to allocate resources by modeling constraints and finding optimal solutions. Sensitivity analysis is described as a way to understand which assumptions most impact the model's output. References are provided on linear programming and using spreadsheets for sensitivity analysis.

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44 views2 pages

Week 8

The document discusses various techniques for technology decision making and resource allocation, including linear programming, decision trees, decision matrices, and sensitivity analysis. It provides an overview of how linear programming can be used to allocate resources by modeling constraints and finding optimal solutions. Sensitivity analysis is described as a way to understand which assumptions most impact the model's output. References are provided on linear programming and using spreadsheets for sensitivity analysis.

Uploaded by

rafiqueuddin93
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Week 8 - Technology decision

Decision making?
Resource allocation
We need tangible techniques to allocate resources ( a science called linear programming)
Allocate weightings
http://www.un.org/climatechange/blog/2014/04/07/renewable-energy-market-share-climbs-
despite-2013-dip-in-investments/
7 April 2014 Government representatives and scientists opened a five-day meeting on Monday of
the Intergovernmental Panel on Climate Change (IPCC) to finalize a report assessing the options for
mitigating climate change, and the underlying technical, economic and institutional requirements.
http://www.un.org/climatechange/blog/2014/04/07/ipcc-starts-meeting-to-finalize-working-group-
iii-report/
They campaign to create global awareness of disaster risk reduction benefits and empower people
to reduce their vulnerability to hazards. Our current campaigns focus on safer schools and hospitals
as well as resilient cities.
http://www.unisdr.org/we/campaign

Decision trees & Decision matrices
Here are some conventional trees matrices for decision making.

Decision tree



Linear programming
relating to some situation, the process of taking various linear inequalities, and finding the "best"
value obtainable under those conditions is Linear programming. For example determining the "best"
production levels for maximal profits of the limitations of materials and labor.
linear programming is an vital element of mathematics known as "optimization techniques".
In resolving the organization and allocation of resources, this study is used every day.
Dozens or hundreds of variables are used in the "real life" systems, although in algebra variables
only the simple and graphable two variable linear case will work within.
Graphing the inequalities known as the "constraints" is the general process for solving linear
programming exercises. This process is completed to form a enclosed off area on the x,y plane
known as the "feasibility region". Subsequently the coordinates are allocated of the corners of this
feasibility region and the corner points are tested using the formula called the "optimization
equation" which is done to record the highest or lowest value.
Financial decision making
Sensitivity analysis
The main goal of sensitivity analysis is to gain insight into which assumptions are critical for example
which assumptions affect choice. Changing input values of the model is the process involving various
ways to see the effect on the output value. A single model can be used as a decision to investigate
several alternatives. Spreadsheet model may be used In other cases as an alternative.


References:
Stapel, E. 2014. Linear Programming: Introduction. [online] Available at:
http://www.purplemath.com/modules/linprog.htm [Accessed: 13 Apr 2014].
Anonymous. 2014. [online] Available at: http://www.treeplan.com/chapters/sensitivity-analysis-
using-excel.pdf [Accessed: 14 Apr 2014].

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