SCS Capabilities — Applied Modeling and Simulation Training Curriculum
Decision Analysis/Cost-Benefit Applied to Clinical Trial Design
(1 or 2-day course, lecture and computer-based lab)
This course introduces decision analysis and the integration of financial
modeling into clinical program development. The value of information
can be computed only if it supports making different decisions. The value
of information concept can be applied to many clinical trial decisions
including adaptive dosing, adaptive subject allocation or randomization,
dynamic powering, and stopping for futility. Topics will include an introduction
to net present value of cash flow modeling, decision-analysis (alternatives,
information, uncertainty and economic value), and value of information.
Key concepts will be illustrated by case studies and a simple ‘war-game’
exercise among participants.