Departments' graduate courses

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Value of information analysis (VOIA)

  • Course code: FBOM105
  • Course higher education credits: 5.0
  • Department: ARCHITECTURE AND CIVIL ENGINEERING
  • Course is normally given: Future occasions will be announced.
  • Language: The course will be given in English

Course description
Collection of different types of information, e.g. rock characterization in tunnels, sampling of contaminated soil, and measurements of groundwater levels is fundamental in civil and environmental engineering projects. An important, but often rather complex, issue is to decide what amount of information that is reasonable to collect for the specific task at hand. Optimizing the collection of information requires experience, knowledge of the environment we are working in and clear objectives. We also need methods for handling the inherent uncertainties. One of several approaches to optimize the collection of information is Value of Information Analysis (VOIA).  In this approach the reduced economic risks of making an erroneous decision that is the result of an information collection program are compared to the costs for obtaining the new information. By comparing alternative information collection strategies, the best alternative from a risk-cost perspective can be identified.

 

The aim of the course is to provide a fundamental theoretical understanding of Bayesian Value of Information Analysis. The student shall after completion of the course be able to apply VOIA on a basic level in evaluation of their own information collection programs.

 

The course is a mixture of lectures by Tommy Norberg and Lars Rosén, seminars, and a project assignment. The students are encouraged to work on their own projects.
Literature

Bedford, T. & Cooke, R., 2001: Probabilistic Risk Analysis. Foundations and Methods. Cambride University Press. Kapitel 10 och 13.

 

Back P-E. 2006. Value of Information Analysis for Site Investigations in Remediation projects. PhD Thesis No. 2551, Chalmers University of Technology, Göteborg. Kapitel 2 och 3.

 

Back, P.E., Rosén, L. and Norberg, T., 2007: Value of Information Analysis of Remedial Investigations. AMBIO: A Journal of the Human Environment: Vol. 36, No. 6, pp. 486¿493.

 

Norberg, T. and Rosén, L., 2006: Calculating the Optimal Number of Contaminant Samples by Means of Data Worth Analysis. Environmetrics, Vol 17. No. 7 p. 705-719.

 

Lecture notes.

Lecturers
Senior Lecturer Tommy Norberg, former professor at Department of Mathematical Sciences, Chalmers Professor Lars Rosén, Department of GeoEngineering, Chalmers
More information
Contact Lars Rosén, lars.rosen@chalmers.se

Published: Tue 22 Aug 2017.