MAN 3503 - Managerial Risk Analysis and Decision Making

College of Business

Credit(s): 3
Contact Hours: 47
Effective Term Fall 2023 (625)

Requisites

Admission to Business Administration (Bachelor of Science) (BUS-BS) or
Admission to Management and Organizational Leadership (Bachelor of Applied Science) (MGTORG-BAS) or
Admission to Project Management (Certificate with Financial Aid Eligibility) (PRJMGT-CT) or
Admission to Technology Development and Management (Bachelor of Applied Science) (TMGT-BAS) or
Admission to Paralegal Studies (Bachelor of Applied Science) (LEGAL-BAS) or
Admission to Paralegal Studies (Transfer Plan) (LEGAL-TR) or
Admission to Sustainability Management (Bachelor of Applied Science) (SUSMGT-BAS) or
Admission to Supply Chain Management (Advanced Technical Certificate with Financial Aid Eligibility) (SCMGT-ATC) or
Admission to Business Analyst Specialist (Advanced Technical Certificate with Financial Aid Eligibility) (ANLST-ATC)

Course Description

This course develops a framework for making decisions, as well as understanding how these decisions can be used to manage risk. Managers need to understand how they personally value risk in order to recognize the potential impact their behavior may have on organizations and stakeholders. This course will study approaches that students may develop and apply decision making and risk analysis to solve problems in different operating environments.

Learning Outcomes and Objectives

  1. The student will summarize different approaches used by businesses to manage risks and make better decisions by:
    1. exploring methods used to procure resources to manage risk.
    2. examining operating decisions and strategies to reduce risks.
    3. applying preventative techniques to reduce losses and develop contingency plans.
  2. The student will evaluate risk in various industries by:
    1. identifying, managing, and reporting risk throughout a company.
    2. detecting, and counteracting risk management decisions that are suboptimal for the company as a whole.
    3. analytically aggregate risks to support decision making concerning the company’s total risk profile.
  3. The student will evaluate risk analysis and assessment tools by:
    1. identifying measures and scenarios as appropriate to the company.
    2. comparing different techniques utilizing probability, expected values, decision trees, networks, matrices, factor analysis and other approaches as needed.
    3. applying requirements based on the interpretation of the results.
    4. comparing different approaches used by businesses
  4. The student will examine risk factors associated with global organizations by:
    1. defining legal, political, environmental, innovation, technology, regulatory, life cycle, financial, capital, marketing and sales, competitive, governance, and other business risk factors.
    2. assessing variations and tradeoff between different countries, and operating environments.

Criteria Performance Standard

Upon successful completion of the course the student will, with a minimum of 70% accuracy, demonstrate mastery of each of the above stated objectives through classroom measures developed by individual course instructors.

History of Changes

C&I 12/4/07, BOT 1/15/08, Eff20072(0390). Flex Access 20081(0400). C&I 3/23/2010, BOT 4/21/2010, Effective 20093(0425). C&I Approval: 11/30/2012, BOT Approval: 01/15/2013, Effective Term: Fall 2013 (475). C&I Approval: , BOT Approval: , Effective Term: Spring 2018 (540). C&I Approval: 09/05/2019, BOT Approval: 09/24/2019, Effective Term: Spring 2020 (570).
C&I Approval: , BOT Approval: , Effective Term: Fall 2023 (625)

Related Programs

  1. Business Administration (BUS-BS) (610) (Active)
  2. Business Analyst Specialist (ANLST-ATC) (625) (Active)
  3. Management and Organizational Leadership (MGTORG-BAS) (645) (Active)
  4. Project Management (PRJMGT-CT) (510) (Active)
  5. Supply Chain Management (SCMGT-ATC) (585) (Active)
  6. Sustainability Management (SUSMGT-BAS) (640) (Active)