Decision & Risk Analysis

Vakbeschrijving Decision & Risk Analysis
Collegejaar: 2017-2018
Studiegidsnummer:
Docent(en):
Voertaal: Engels
Blackboard: Ja
EC: 3
Niveau: 400
Periode: Semester 1, Blok II
  • Wel Keuzevak
  • Wel Contractonderwijs
  • Wel Exchange
  • Wel Study Abroad
  • Geen Avondonderwijs
  • Geen A-la-Carte en Aanschuifonderwijs
  • Geen Honours Class

Admission requirements

None

Description

Managers who participate in decision making processes need to be able to present and defend the structure of their reasoning and analyses in a clear and compelling way. This increasingly requires the use of data and quantitative models. This course introduces students to various ways of thinking structurally about decision problems, and to use limited information and historical data to make informed management decisions. Much of the material presented in the course will be discussed in the context of real-life business cases.

Topics covered:
The course covers key concepts, frameworks, and approaches needed to conduct a decision and risk analysis. These include ways of formalising and modelling different aspects of decisions and risks, and the use of sensitivity, Monte-Carlo simulation, and scenario analyses. The course also familiarises students with the concepts of risk, real option and uncertainty and how to use these in the decision making process. Students will learn how to apply these different concepts, frameworks, and approaches using various decision making add-ons in Excel (e.g. @Risk, Solver, PrecisionTree).

Course objectives

Students will be trained in the use of key decision-analysis and risk- analysis tools and approaches. At the end of the course, students will be able to:

  • conceptualise and present real-life business decisions in a formal, structured way;
  • solve decision making problems as optimisation problems;
  • identify, assess, and manage risks and uncertainties in decision making;
  • appreciate the value of flexibility and real options.

Timetable

Semester 1:

  • Course: Monday and Thursday 14:00 – 17:00 hrs, December 4th – December 21st 2017
  • Exam: 14:00 – 17:00 hrs, January 8th 2018

Mode of instruction

Seminar

Course Load

7 3 hour seminars
Exam
Preparation

Assessment method

To be decided

Blackboard

Yes

Reading list

See Blackboard

Registration

Please register via Usis and this Jotform.

Registration Studeren à la carte and Contractonderwijs

Registration Studeren à la carte via: www.hum.leidenuniv.nl/onderwijs/alacarte
Registration Contractonderwijs via: http://www.hum.leidenuniv.nl/onderwijs/contractonderwijs/

Contact

info@sbb.leidenuniv.nl

Remarks

None

Talen