DECISION MAKING PROJECT: This assignment is a decision maki

DECISION MAKING PROJECT: This assignment is a decision making project, NOT a research paper. Due Dates: Written Proposal 3/16 Interim Report 3/30 Executive Summary 4/13 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. Make sure the topic you pick is deep enough to develop a 6-8-page paper around. Previous Project Examples: Whether to hire full-time employees, part-time employees, or per diem employees (Discussed in class, do not use this as your decision.) Whether to buy new copiers, lease copiers, or outsource copiers 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 at least three alternatives, at least three evaluation measures, and 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) an Executive Summary final submission. The deliverables are cumulative. Written Proposal: Approximately 2-3 double-spaced typewritten pages, excluding any tables or figures, and includes: 1. Background: A brief summary of the problem background to be analyzed 2 Problem Statement: A problem statement – clearly stated and should only be a few sentences. What are you trying to solve? 3 Decision Alternatives:A preliminary list of alternatives to be considered. List them clearly as your choices. 4 Evaluation Considerations & Evaluation Measures:A preliminary list of considerations and evaluation measures to be used to help make the decision. 5 Resources:A proposed list of resources to be utilized / consulted to assist in making your decision.