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Weighing the options
Avanti Academy / Complexity, decisions and innovation / Solving Complex Problems and Decision Making / Bitesize
Bitesize

Weighing the options

Cost benefit analysis and data for decisions.

Level
Bitesize
Learning time
1 hour 15 minutes
Where
Solving Complex Problems and Decision Making
Price
£39

When you step up to a higher level, what you paid in the last 12 months for lower-level courses inside the bigger course comes off its price, in proportion to how much of each is inside it, whichever topic it's from. Courses at the same or a lower level don't give credit against each other. A Focus course or above always costs at least £15. Read the full terms

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Certificate of Completion

About this course

Overview and Outcomes.

Overview

Once options exist, someone has to work out what each is worth. This module covers cost benefit analysis from Jules Dupuit's original method to social cost benefit analysis, with six steps grouped into three jobs, and the ways an analysis quietly misleads, including forced numbers. It pairs this with market analysis and the 6W customer analysis model, showing how genuine rather than assumed need defines the options worth valuing. Every technique in this programme depends on the evidence feeding it. This module applies Deming's standard of accurate, valid, precise and reliable data, sets out the main types of data and what each can legitimately support, and covers how primary data is collected, including why a survey is only as good as its design. The 2020 A Level grading algorithm shows how capable people produced a confident, precise and wrong answer.

What you'll develop

In this Bitesize, you will develop the ability to:

  1. Describe the steps of a cost benefit analysis and how social cost benefit analysis adapts them for public decisions.
  2. Identify common failures in a cost benefit analysis, including convenient omission, false precision and uncounted distribution.
  3. Use the 6W customer analysis model to distinguish genuine need from assumed need before options are valued.
  4. Apply Deming's four tests of accurate, valid, precise and reliable to a figure you use in your own work.
  5. Distinguish the major types of data and identify which calculations, such as averaging, each can honestly support.
What it covers

The Modules.

1 hour 15 minutes of learning.

  1. 09Cost Benefit and Market Analysis: Valuing Your OptionsOnce options exist, someone has to work out what each is worth. This module covers cost benefit analysis from Jules Dupuit's original method to social cost benefit analysis, with six steps grouped into three jobs, and the ways an analysis quietly misleads, including forced numbers. It pairs this with market analysis and the 6W customer analysis model, showing how genuine rather than assumed need defines the options worth valuing.38 min
  2. 10Understanding Data: The Evidence Base for Good DecisionsEvery technique in this programme depends on the evidence feeding it. This module applies Deming's standard of accurate, valid, precise and reliable data, sets out the main types of data and what each can legitimately support, and covers how primary data is collected, including why a survey is only as good as its design. The 2020 A Level grading algorithm shows how capable people produced a confident, precise and wrong answer.39 min
Where it fits

Keep going.

Part of the Solving Complex Problems and Decision Making topic, also sold whole as Clear calls in complex times.

How credit works

Go deeper, and pay only the difference

  1. You are hereBitesize, 1 hour 15 minutes, £39
  2. Next stepFocus, Evidence and instinct, 2 hours 30 minutes, £69. Already own the Bitesize? You pay £30.
  3. Explore, How decisions really get made, 6 hours 30 minutes, £129. Already own the Bitesize? You pay £90.
  4. The whole topicImmerse, Clear calls in complex times, 13 hours 30 minutes, £249. Already own the Bitesize? You pay £210.

When you step up to a higher level, what you paid in the last 12 months for lower-level courses inside the bigger course comes off its price, in proportion to how much of each is inside it, whichever topic it's from. Courses at the same or a lower level don't give credit against each other. A Focus course or above always costs at least £15. Prices per person. Read the full terms

Also part of: Leading with data and digital, From data to decisions

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