Date of Webinar: May 11, 2023
Time of Webinar: 11:04 a.m. (US eastern time)
Title: User Group Meeting - Subjective Probability Assessment in a Data-Driven Decision-Making Environment
Presented by: Dr. Steve Van Drew, Consultant & Trainer for @RISK and DecisionTools Suite
Today’s decision-making environment expects analyses to be supported by data, which is reasonable when relevant data are available. However, the "data-driven" expectation has become so extreme that analyses based on subjective probability assessment are often discounted or ignored. In project management studies, assessing uncertainties with little or no relevant data requires unapologetic reliance on subjective probability assessment.
After a quick overview of the current decision-making situation and the presenter's past attempts to ease concerns about subjective probability assessments, this User Group meeting will focus on engaging practitioners to answer questions together.
1. Why don't decision-makers trust subjective probability assessment?
2. How can decision-makers be assured that subjective probability assessment is valid?
3. Are there any subjective probability assessment techniques or tools that satisfy decision-makers' desire to use data for decision-making?
RECORDING will be sent to everyone who registers.
Presented by: Dr. Steve Van Drew - Consultant & Trainer for @RISK and DecisionSuiteTools - West Point engineering graduate with operations research graduate degrees from the Colorado School of Mines.