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  3. Business Decision Analysis

Business Decision Analysis (MGMT20005)

Undergraduate level 2Points: 12.5On Campus (Parkville)

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Overview

Year of offer2017
Subject levelUndergraduate Level 2
Subject codeMGMT20005
Campus
Parkville
Availability
Semester 1
FeesSubject EFTSL, Level, Discipline & Census Date

This subject provides both the conceptual frameworks and practical illustrations of business analysis techniques including decision trees, simulation and optimisation. These frameworks will be applied to various decisions faced by organisations, with applications in the areas of entrepreneurship, strategy, operations, marketing and finance.

Intended learning outcomes

Upon successful completion of this subject, students should be able to:

  • Specify a business problem or opportunity
  • Identify potential alternative solutions
  • Clarify objectives and develop performance matrix
  • Address decision tradeoffs
  • Quantitatively analyse decision alternatives using spreadsheets
  • Analyse risks using such methods as probability analysis
  • Apply advanced problem solving approaches using such Excel spreadsheet features as Data Tables, Goal Seek and Solver.

Generic skills

Upon successful completion of this subject, students should be able to:

  • Manage decision-analysis teams;
  • Become skilled at managerial decision analysis;
  • Have strong communication skills in decision-analysis contexts.

Last updated: 11 October 2017