Business Analytics, Decision Making and Risk Analysis

Business Analytics, Decision Making and Risk Analysis

Categories: Masters Courses
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About Course

This course will unfold the belief that we are naturally good at making decisions because we do it every day. Research shows that individuals are prone to many decision-making mistakes, even in simple situations. This is more experienced when decisions are made under uncertainty. In this course, we will discuss how you can become better decision makers in both your personal and professional lives.

What Will You Learn?

  • Develop strategies and mental frameworks that deal effectively with uncertainty
  • Eliminate the dangers that can reduce our decision making
  • Reason with clarity and insight about the decisions you face

Course Content

Welcome to the Course!
Hello and welcome to decision making and risk analysis. In this course, we will watch a series of videos to better understand how and why we make decisions. We focus a lot on the decision-making process itself, why we make bad decisions, how to make better decisions and influencers of decisions. We also focus on how risk management and analysis techniques assist with making better-informed decisions. The premise of this course is to gain experience through the videos, perform additional research to add to the weekly content to answer questions and to answer a final quiz at the end of the course.

Grading Rubric
Grading Rubric All assignments are 10 points- 150 points total The final exam is worth 50 points 200 points total in the course.

Week 1 Resources: The art of decision making
Watch: How to Make a Decision. (2017), Retrieved from: https://www.youtube.com/watch?v=okdsAZUTJ94

Week 2 Resources: How do people make decisions?
Watch: How we people make decisions. (2017). Retrieved from: https://www.youtube.com/watch?v=9CZQix5WGJc

Week 3 Resources: Are there specific steps to the decision-making process?
Watch: What are the 7 Steps of Decision Making? (2018). Retrieved from: https://www.youtube.com/watch?v=5a0Fe3AchAI

Week 4 Resources: How do we make decisions – are we free to choose?
Watch: Making Sense of How our Brains form Decisions.(2018), Retrieved from: https://www.youtube.com/watch?v=2zxOBbAbQkA Redish, D. (2014). The mind within the brain – how we make decisions. Retrieved from: https://www.youtube.com/watch?v=0Iuc5ufbirM

Week 5 Resources: Can someone be naturally good at decision making?
Watch: Confer, M. (2019). Before you Decide: 3 Steps to Better Decision Making. Retrieved from: https://www.youtube.com/watch?v=d7Jnmi2BkS8

Week 6 Resources: How to improve decision making skills
Watch: Griffiths, T. (2018). 3 ways to make better decisions- by thinking like a computer. Retrieved from: https://www.youtube.com/watch?v=1mLQFm3wEfw How to Improve Decision Making Skills: Decision Making Process. (2019). Retrieved from: https://www.youtube.com/watch?v=2tCYy66CyuQ

Week 7 Resources: How to make hard choices?
Watch: Chang, R. (2014). How to make hard choices. Retrieved from: https://www.youtube.com/watch?v=8GQZuzIdeQQ How to make hard decisions. (2020). Retrieved from: https://www.youtube.com/watch?v=gF8DmEi31eE

Week 8 Resources: Decision making strategies
Watch: Decision-Making Strategies. (2018). Retrieved from: https://www.youtube.com/watch?v=pPIhAm_WGbQ

Week 9 Resources: Ethics in decision making
Watch: Ethical Decision Making. (2020). https://www.youtube.com/watch?v=n0uwTBrgqxI

Week 10 Resources: How to be more decisive and tips to making good decisions as a leader
Watch: How to be More Decisive: Decision Making Tips. (2017). Retrieved from: https://www.youtube.com/watch?v=CjBGNz-Z5WA Ramsey, D. (2018). The elements of good decision making. Retrieved from: https://www.youtube.com/watch?v=UUquj5onSVM

Week 11 Resources: How to make faster decisions?
Watch: Cardone, G. (2018). How to make decisions fast. Retrieved from: https://www.youtube.com/watch?v=2zgfKa25-Jc How to make faster decisions: The way we work. (2020). Retrieved from: https://www.youtube.com/watch?v=cTIUiN6inIQ

Week 12 Resources: Risk based decisions
Watch: Risk-Based Decisions: Process Hazard Analysis. (2015). Retrieved from: https://www.youtube.com/watch?v=N3UxVnYcHZQ What is risk-based decision-making? (2018). Retrieved from: https://www.youtube.com/watch?v=BI-3ApW8njQ

Week 13 Resources: How to use risk analysis to make better decisions
Watch: Sidorenko, A. (2019). Using risk analysis to make better strategic decisions. Retrieved from: https://www.youtube.com/watch?v=adPrQvEHhTM

Week 14 Resources: Tools in risk management
Watch: Using Decision Trees in Risk Analysis. (2016). Retrieved from: https://www.youtube.com/watch?v=-f5I99Q9hwY Risk and How to use a Risk Matrix. (2018). Retrieved from: https://www.youtube.com/watch?v=-E-jfcoR2W0

Week 15 Resources: Risk informed decision making
Watch: Risk, Risk Informed Decision Making, Risk Analysis and Management. (2016). Retrieved from: https://www.youtube.com/watch?v=RfhssVWgUgM

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