Analyzing decisions

You must analyze a real-life business problem that needs to solved. This project applies the methods of this course to analyze a business decision problem. Examples of appropriate business decision areas include process improvement or re-engineering, facility siting, new ventures, new products/services, acquisitions, divestments, capital expenditures, lease-buy, make-buy, technology choice, and research/development planning. Previous Project Examples: Whether to buy new copiers, lease copiers, or outsource copiers Whether to hire full-time employees, part-time employees, or per diem employees Spending marketing dollars to increase sales on a product, delete products, or leave as-is Selection of a contractor or supplier Type of health-care program to institutionalize Selecting a new business location SPECIFIC REQUIREMENTS The project must use the decision analysis methods that we are covering in class. At minimum, the decision problem must have (1) at least three alternatives, (2) at least three evaluation measures, and (3) significant uncertainty about some important element of the decision. You must consult at least two outside expert data sources for information. These sources must include written material. While these requirements are minimums, the real requirement is that the decision problem be defensively analyzed. That is likely to require more extensive analysis than the minimums. There are three deliverables: 1) a written proposal, 2) an interim report, and 3) final presentation and executive summary. The deliverables are cumulative, and much of what you prepare for each assignment can be used in later assignments. Proposal: Less than two double-spaced typewritten pages, excluding tables or figures, and includes: (1) Background – a summary of the problem background to be analyzed, (2) Problem Statement – a problem statement (3) Evaluation Considerations