MNGT 4711: Decision Analysis

By the end of the course, students will be able to:

• Distinguish between the processes of decision-making.
• Identify the true problems rather than the symptoms.
• Determine and authenticate relevant information.
• Use divergent thinking to generate ideas.
• Use convergent thinking to select the best solution or actualize the opportunity.
• Develop financial forecasting for your solution.
• Develop an implementation plan.

Module 1: Introduction to Decision Making

• Determine your paradigms in relationship to decision-making and this course.
• Differentiate between divergent and convergent thinking.
• Describe the decision making process that will be used in this course.

Module 2: Problem Definition/Opportunity Delineation

• Explain the difference between disturbance problems and entrepreneurial problems.
• Conduct a multiple perspective exercise.
• Develop an affinity diagram.
• Describe the cause and effect relationship.
• Identify the contributing factors to the problem/opportunity by preparing a cause and effect/fishbone diagram.
• Develop a problem definition by incorporating the elements of a good problem statement.

Module 3: Compiling Relevant Information

• Demonstrate the steps involved in the data gathering process by creating a research document.
• Appraise and evaluate different sources of data.
• Prepare and evaluate a SWOT analysis for your problem/opportunity.
• Identify key success factors for your identified organization.
• Analyze your problem/opportunity position within the value chain.
• Analyze your competitor's value chain.
• Identify weaknesses and strengths in the relative position of the firms under evaluation.

Module 4: Generating Ideas

• Discuss Wallas' four phases of the Creative Process.
• Generate creative ideas for problem solving or opportunity creation by utilizing five different idea generating techniques.
• Use one of the seven corporate strategies for generating ideas in an organizational environment.
• Evaluate the effectiveness of the various tools in a written report.

Module 5: Evaluating and Prioritizing Potential Solutions

• Determine the Evaluation Criteria for a problem/opportunity.
• Apply the SMART model to a problem/opportunity.
• Utilize a Probability Tree in determining the probable outcome of a problem/opportunity.
• Perform a Force Field Analysis of a problem/opportunity outcome.
• Assess the usefulness of the Idea Evaluation and Prioritization Techniques you have worked with in this module.

Module 6: Financial Forecasting

• Utilize the four basic steps involved to prepare a Financial Analysis.
• Compile a Financial Forecast Report for your project.
• Apply four financial metrics to your problem/opportunity.

Module 7: Developing the Implementation Plan

• Develop a Work Breakdown Structure.
• Develop a Responsibility Matrix.
• Develop a schedule utilizing a Gantt chart.
• Prepare an Implementation Plan for your project.

There is no required textbook for this course.

A computer with Internet access is required.

In order to successfully complete this course, students must obtain at least 50% overall. Students taking this course and applying it towards an Advanced Certificate or Advanced Diploma in Management must obtain a minimum 70% average in the course overall.

An Open Learning Faculty Member is available to assist students. Students will receive the necessary contact information at the start of the course.