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An overview of methods and models managers use to aid planning and provide insights for planning and decision-making. Excel spreadsheet models and analysis of these models are used to support and develop managerial intuition. The planning methods covered include: decision analysis for decision-making under uncertainty, models for money management and inventory planning over time, and sensitivity analysis using spreadsheets. Optimisation and heuristics as planning tools are introduced. Opportunities to develop presentation skills are also provided.
Course GoalsTo provide students with:An overview of methods and models managers use to aid planning and provide insights for planning and decision-makingExcel spreadsheet skills to develop models and perform analysis to support and develop managerial intuitionAn introduction to the following planning methods and analyses:- Decision analysis for decision-making under uncertainty- Sensitivity analysis using spreadsheets- Optimisation - Heuristics
15 points of MSCI, STAT or MATH. RP: MSCI101, MGMT100
MSCI204
MSCI101, MGMT100
Shane Dye
Students may bring a single A4 sheet of their own notes into the test and exam. The assessed presentation is based on your own work in Assignment 1. For this assessment, pairs will present together in front of an audience made up of students and academic staff. The marks for this assessment are individual. Some of the assignments in the course are done as pairs, others are individual.Cover sheets must be used on the assignments: Coversheets - Group and IndividualThe marks for the assessment items will be standardised before a final grade is determined.
Topics1. Decision analysis.– Motivation– Framing decision trees and finding the maximum expected value solution– Decision trees and focussed risk analysis to improve decision choices– Structured risk management and the value of information– Sensitivity analysis– Data collection, expert assessment and bias2. Models for business planning– Heuristics– Dynamic models for planning over time– Modelling costs for planning and decision-making– The replacement problem, comparing costs over different time horizons– Monte Carlo simulation3. Modelling and influence diagrams– Developing influence diagrams for analysis of business situations– Formulating algebraic models from influence diagrams– Formulating spreadsheet models from influence diagrams and algebraic modelsWorkloadThe total workload for this course is about 150 hours in total. Lectures 24 hoursTutorials 12 hoursLecture and tutorial preparation and review 40 hoursTest and examination, including preparation 34 hoursAssignments 40 hoursTotal 150 hoursDepartmental Academic Policies If you require a hard copy of this document, please ask the course co-ordinator. The Department assumes that you have read this document. You should also read the “Information related to courses and assessment” on page 32 of the Enrolment Handbook 2011 (also in UC Calendar under “General Course and Examination Regulations”).Dishonest PracticeThe University of Canterbury considers cheating and plagiarism to be serious acts of dishonesty. All assessed work must be your own individual work unless specifically stated otherwise in the assessment guidelines. Material quoted from any other source must be clearly acknowledged. You must not copy the work of another person (student or published work) in any assessment including examinations, tests and assignments. Any person, who is found to have copied someone else's work, or to have allowed their work to be copied, will receive a fail grade for that piece of assessment and may face disciplinary action which may lead to a fine, community service or exclusion from the university.IMPORTANT: Where there are concerns regarding the authorship of written course work, a student can be required to provide a formal, oral explanation of the content of their work.
Domestic fee $630.00
International fee $2,775.00
* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.
For further information see Management, Marketing and Tourism .