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School of Management, Unit Catalogue 2011/12

MN50417: Decision analysis

Click here for further information Credits: 6
Click here for further information Level: Masters UG & PG (FHEQ level 7)
Click here for further information Period: Semester 1
Click here for further information Assessment: CW 40%, EX 60%
Click here for further information Supplementary Assessment: Like-for-like reassessment (where allowed by programme regulations)
Click here for further information Requisites:
Click here for further information Description: Aims:
The aims of this unit are:
* to investigate how individuals and groups make decisions relating to technology and innovation;
* to demonstrate the weaknesses of unaided decision making;
* to demonstrate how decision analysis can help to overcome these weaknesses in problems where there may be a plurality of objectives, risk and both qualitative and quantitative attributes;
* to examine and evaluate methods designed to support long term decision making such as growth curves, the Delphi method and scenario planning.

Learning Outcomes:
At the end of the course students will be able to:
* recognise problems which are amenable to decision analysis;
* implement appropriate decision analysis methods;
* critically evaluate analyses by considering the underlying normative and behavioural assumptions of decision analysis;
* apply and evaluate methods designed to inform long-term decisions relating to technology and innovation.

* an openness and capacity to continue learning with the ability to reflect on earlier knowledge and practice and integrate the new with past experience and effectively apply it to the present situations. F
* identify biases and deficiencies of observed decision processes, T,A
* evaluate and interpret new information, and engage in problem solving; T,A
* formulate and evaluate decision support models T, A
* demonstrate consistent and effective written communication skills; A
* deal with complex issues and make sound judgements in the absence of complete information, and to communicate their conclusions clearly and competently to a range of audiences. F

Descriptive models and theories of individual decision making:
Problems associated with group decision making.
Heuristics and biases in probability and risk assessment
Decision framing; Structuring decision problems.
The underlying rationale of decision analysis
Decision Problems involving multiple objectives
Decision Problems under conditions of uncertainty
Probability assessment, including risk analysis
Revision of Opinion in the light of new information.
Methods designed to aid group decision making.
Planning for the long-term future: the Delphi method, prediction markets, scenario planning and growth curves.
Click here for further informationProgramme availability:

MN50417 is Compulsory on the following programmes:

School of Management
  • TXXX-AFM13 : MSc Innovation and Technology Management (Full-time)

NB. Programmes and units are subject to change at any time, in accordance with normal University procedures.