Business Decision Analysis

Subject MGMT20005 (2013)

Note: This is an archived Handbook entry from 2013.

Credit Points: 12.50
Level: 2 (Undergraduate)
Dates & Locations:

This subject is not offered in 2013.
Time Commitment: Contact Hours: Two 1-hour lectures and a 1-hour tutorial per week
Total Time Commitment:

3 hours per week plus a minimum of 6 hours per week in self directed study.
Prerequisites:

ECON10005 Quantitative Methods 1.
Corequisites:

None
Recommended Background Knowledge:

Please refer to Prerequisites and Corequisites.
Non Allowed Subjects:

None
Core Participation Requirements:

For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills and Assessment Requirements for this entry.

The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/

Contact

Email: wirtha@unimelb.edu.au

Subject Overview:

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

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 and Goal Seek.
Assessment:

A 2-hour examination (60%) and assignment(s) totalling not more than 4000 words (40%).
Prescribed Texts:

You will be advised of prescribed texts by your lecturer.
Breadth Options:

This subject potentially can be taken as a breadth subject component for the following courses:

You should visit learn more about breadth subjects and read the breadth requirements for your degree, and should discuss your choice with your student adviser, before deciding on your subjects.

Fees Information: Subject EFTSL, Level, Discipline & Census Date
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.

Download PDF version.