11079 Analytical Thinking and Decision Making Assignment

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Reference no: EM132785460 , Length: word count:2000 words

11079 Analytical Thinking and Decision Making Assignment - University of the West of Scotland, UK

Learning Outcomes - This coursework assesses the following learning outcomes

1. Demonstrate the ability to apply tools, techniques and practices to complex business problems (identify, investigate, formulate, and advocate novel and creative solutions and ideas).

2. Critically evaluate the various factors which impact on sound decision making.

Instructions - This assignment is based on the iResearch Decision Making Case Study, which is shown below. It is designed to assess your ability to use an appropriate method to structure and analyse a complex decision problem, and evaluate the strengths and limitations of your analysis

Apply decision analysis to the decision problem facing iResearch and advise the managers on their decision problem. Within your group produce a report of a minimum of 2,000 words that addresses the following questions:

1. Discuss the value of decision analysis within the context of an organisation.

2. Outline the challenges facing iResearch and discuss any assumptions you have made.

3. Apply decision analysis and develop an appropriate decision tree.

4. Calculating the expected values and following the rollback method, outline the most suitable approach for iResearch. Discuss your recommendations for the managers of iResearch.

5. Discuss the strengths and limitations of your analysis in the context of the decision problem.

6. Discuss the influence of the iResearch engineers changing their initial probability estimates. Discuss the influence of probability estimates and uncertainty within the decision making process.

Do not undertake Sensitivity Analysis. The assignment should be presented within a report structure. Each section of the report should be clearly structured and defined and an introduction or overview should be provided. Across the report you will also need to show evidence of assessing a range of resources, e.g. internet, journals, text books and company documents such as annual reports. A Harvard Referencing style should be followed.

Note - Word length - Minimum 2,000 words excluding references.

Attachment:- iResearch Decision Making Case Study Assignment File.rar

Reference no: EM132785460

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