Management Decision Analysis

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Course Number: BUSADMIN 7110
Course Name: Management Decision Analysis
Course Description:    A presentation of theory and applications of quantitative decision methods used in the business setting. Topics include decision theory, linear programming, PERT/CPM, forecasting and inventory control.
Prerequisites:    A statistics course or consent of the instructor.
Level: Graduate
Credits: 3
Format: Online

Registration Instructions

NOTE: The information below is representative of the course and is subject to change.  The specific details of the course will be available in the Desire2Learn course instance for the course in which a student registers.

Additional Information

Learning Outcomes

This course is designed to

  • Introduce you to the common quantitative decision-making tools used in business.
  • Provide you with an opportunity to develop the skills necessary to use the quantitative models of management decision analysis.
  • Expose you to current literature and research in the field of management decision analysis.

SPECIFIC COURSE OBJECTIVES: Upon completion of this course, you will be able to

  • Identify and analyze the problem.
  • Choose the appropriate model to analyze the problem.
  • Apply the model to the problem.
  • Interpret the results in a meaningful way, so as to aid in the decision making process.
  • Write an article review using proper APA (or MLA) formatting.

Unit Descriptions

Unit 1: Introduction to Decision Models
After completing the readings and activities in this unit, you should be able to

  • Construct a model that can be used in a business decision.
  • Know and use the basic principles of probability theory.
  • Examine how decisions are made under conditions of certainty, uncertainty, and risk.

Unit 2: Linear Programming and Its Applications
After completing the readings and activities in this unit, you should be able to

  • Formulate, solve, and interpret linear programming problems to achieve an optimal solution to a business problem.
  • Evaluate typical problems in your own business setting using linear programming techniques.
  • Formulate and solve linear programming problems using spreadsheets (i.e. - MS Excel).
  • Apply linear programming techniques to specialized applications.

Unit 3: Decision Applications
After completing the readings and activities in this unit, you should be able to

  • Demonstrate how cost reduction and efficiencies can be gained using network flow diagrams.
  • Determine critical activities and costs in a project using CPM /PERT techniques.
  • Decide how many waiting lines are appropriate while considering the cost of each additional waiting line using queuing theory.
  • Select the appropriate forecasting technique for various business situations.
  • Select the appropriate inventory control models for dependent and independent demand.

Grading Information

Activities:
Class icebreaker:   10 points
Homework Problems (2 points each):   100 points
Article Reviews (3 @ 15 points each):   45 points
Collaborative Activities (3 @ 15 points each):   45 points
Exams (3 @ 100 points each):   300 points
Term Project:   100 points
TOTAL POINTS:   600

A:  90% or more of total points
B:  80% - 89% of total points
C:  70% - 79% of total points
D:  60% - 69% of total points
F:  Less than 60% of total points

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