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Software for Management

This course is given to Master of Managment, I'm assistant from 2010.


Advanced use of a spreadsheet in management

Previous knowledge

Knowledge of basic Excel


Introduction to spreadsheet modelling in management with an emphasis on project evaluation and cost benefit analysis using indicators such as NPV, IRR and payback period. Different forms of sensitivity and scenario analysis are discussed, including the use of a macro strongly generalizing the built-in features, as well as goalseeking and optimisation.
It is then shown how uncertainty and risk may be taken into account in any model by way of Monte Carlo simulation using random number generation following many practical and theoretical distributions, and how the simulation results may be used to obtain information directly relevant to decision making.

Projectwork :

Students are evaluated on basis of a personal project.
Students have to produce as a group-work a case-study concerning a practical management situation on a freely chosen subject after consultation with the assistants, and expressively making use of several of the spreadsheet-techniques taught in this course. It must include an analysis based on a model and clear management-oriented conclusions.
A printed report detailing the case-study, the setup and use of the spreadsheet models and analysis, must be deposited together with the corresponding Excel files on disk.
It may be asked to present this work orally.
The main evaluation criteria are: realism of the chosen subject, model setup and quality, relevance of assumptions on which the analysis is based, pertinence of analysis conclusions.

Teaching materials

F.Plastria, Software for Management, VUB course 553

Complementary study material:
J.H.MOORE, L.R.Weatherford, "Decision modeling with Microsoft Excel", Prentice Hall, 2001.
D.VOSE, 'Quantitative Risk analysis - a guide to Monte Carlo simulation modelling', Wiley 1996 top

Mode Assessment

Written and implemented projectwork 100% top

Additional information

Contact hours: 52h.: WPO exercises
Language: English
Titular: prof.dr. F. Plastria
OO-fiche n°: Vrije Universiteit Brussel-ESP-MOSI-14219