This course will show you how to analyze a surprisingly wide array of business planning and decision problems using spreadsheet models. In the modeling approach, we seek to describe the essential structure of a decision problem in terms of objectives, decision variables, uncertainties, outcomes, choice criteria, and feasibility. Powerful and easy to use spreadsheet tools have been developed to assist in this process.
Modeling will be approached as a conceptual and analytical activity to help managers deepen their understanding of the issues they face, identify intelligence gaps, overcome limitations in judgment, and gain insights in the trade-offs inherent among competing solutions to a problem. The material is approached from a managerial rather than technical perspective, that is, with a focus on how to apply decision technology, and how to interpret the results for guiding management action.
Final Project (60%), Final Project Presentation (10%), Homework (30%)
A recommended reference book is “Management Science: The Art of Modeling with Spreadsheets” by Powell and Baker, John Wiley 2014.