Course Description:
BUSADMIN 7110 Management Decision Analysis
| 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 |
| Semesters Offered: |
|
| Registration Instructions |
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.
Number of Exams
There are 3 exams for this course.
Number of Assignments
There are 13 reading and problem assignments, 3 article reviews and a case study project for this course.
Number of Projects
There are 3 group projects for this course.
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