6 ECTS credits
155 h study time

Offer 2 with catalog number 4018463FNR for all students in the 1st semester at a (F) Master - specialised level.

Semester
1st semester
Enrollment based on exam contract
Impossible
Grading method
Grading (scale from 0 to 20)
Can retake in second session
Yes
Taught in
English
Faculty
Faculty of Social Sciences & SolvayBusinessSchool
Department
Business Technology and Operations
Educational team
Lieselot Vanhaverbeke (course titular)
Dennis Verbist
Activities and contact hours
18 contact hours Lecture
21 contact hours Seminar, Exercises or Practicals
116 contact hours Independent or External Form of Study
Course Content

This course aims at providing a hands-on introduction to different types of versatile analytical techniques that are used for managerial decision making.

The first part provides a general introduction to (spreadsheet) modelling for business applications, with an emphasis on project evaluation and cost benefit analysis using indicators such as Net Present Value (NPV), Internal Rate of Return (IRR) and payback period.  Different forms of sensitivity and scenario analysis are discussed, including the use of a macro extending the built-in features, as well as the goal-seek function and optimization.

The second part of the course discusses how uncertainty and risk may be taken into account in a model by way of Monte Carlo simulation, using random number generation following a number of practical and theoretical distributions, and how the simulation results may generate information that is directly relevant to decision making.

Course material
Digital course material (Required) : Course handouts, papers and exercises provided, Canvas
Additional info

Teaching Methods

  • Lecture: collective contact-dependent moments during which the lecturer engages with learning materials
  • Seminar, Exercises or Practicals (Practical): collective or individual contact-dependent moments during which the students are guided to actively engage with learning materials
  • Independent or External Form of Study (Self): independent study

 

This description of the teaching methods is indicative, in order to assess the expected study load.

Lecture: 18 hours (6 x 3 hours)

Presence during guest lectures is mandatory, presentations by guest lecturers are an integral part of the course material.

Practical: 21 hours

  • classical solving exercises: 15 hours (5 x 3 hours)
  • intermediate discussion of the selected business case for the assignment: 6 hours (2 x 3 hours)

Self: 116 hours

  • keeping up with the course material during the semester and run through background info,  amounting to 3 hours per lecture: 18 hours (6 x 3 hours)
  • processing and preparation of exercises for practical, amounting to 3 hours per lecture: 18 hours (6 x 3 hours)
  • preparation group assignment: 64 hours (8 days of 8 hours)
  • preparation presentation and defense: 16 hours (2 days of 8 hours)

 

Learning Outcomes

Algemene competenties

At the end of this course the students will be able:

  • to apply a spreadsheet tool for advanced management modeling and business case evaluation
  • to build accurate models representing a business case, and perform sensitivity analysis, optimization and Monte Carlo simulation in order to make optimal management decisions depending on strategical preferences by interpreting the results
  • and have gained practical experience in writing an executive summary and presenting a case.

Grading

The final grade is composed based on the following categories:
Practical Exam determines 100% of the final mark.

Within the Practical Exam category, the following assignments need to be completed:

  • Business Case with a relative weight of 100 which comprises 100% of the final mark.

Additional info regarding evaluation

Evaluation is fully based on a project assignment requiring the students to apply the taught modeling techniques to a self-selected or provided business case, with the objective to provide answers to a number of management questions.
The project is to be submitted as an executive summary, together with the supporting computer file(s), and has to be presented orally with computer assistance, introducing the case, discussing technical highlights and providing motivated conclusions.
Depending on the number of students taking this course, the assignment may be an individual or a group project.
Group marks may be adjusted by an intermediary and final peer assessment procedure.

Allowed unsatisfactory mark
The supplementary Teaching and Examination Regulations of your faculty stipulate whether an allowed unsatisfactory mark for this programme unit is permitted.

Academic context

This offer is part of the following study plans:
Master of Business Engineering: Standaard traject (only offered in Dutch)
Master of International Business: Standaard traject
Master of Business Engineering: Business and Technology: Standaard traject