BBA312FinalAssignmentBrief1.pdf – Assignment:




BBA312 Decision Making Final Assignment Brief and Rubrics

Task
• This is an individual task
• Read and study the information below and answer the questions.
• There are 8 questions. Make sure the questions are clearly labelled.
• Document format (upload in pdf format)

Formalities:
• Wordcount: 2000 words
• Cover, Table of Contents, References and Appendix are excluded of the total wordcount.
• Font: Arial 12,5 pts.
• Text alignment: Justified.
• The in-text References and the Bibliography have to be in Harvard’s citation style.

The Project Information
Madrid FC own land in the metropolitan area of Madrid. They would like to build a sports complex which would include state-of the art training facilities for elite athletes. Your consultancy office with the help of architects and sports consultant have drawn up three different projects) (i) 10 hectare site with small capacity for athletes (ii) 20 Ha site and moderate level of capacity; (iii) a high-level complex at 30 Ha.
The success of the project depends upon several factors. Madrid FC want to build make the largest profit. There is uncertainty concerning the demand for the three projects. The decision is to select the optimum project depends on following three decision alternatives:
Decision 1: a small sports complex at 10 Ha
Decision 2: a medium complex at 20 Ha
Decision 3: a large complex at 30 Ha

Some other information investigated:
Decision 1 would be in the centre of town where property and land are expensive but would have some kudos as it is close to the football ground.

Decision 2 is close to the centre but transport would be needed to get to it.
Decision 3 is out of town with lots of opportunity for expansion.

A study was conducted to get some prior knowledge for the probability of each alternative occurring at 2 different demand level. The two directions investigated were high demand and low demand and based on various financial metrics and a probability assigned to these variables (see table 1 below).
Thus, management must first select a decision alternative (complex size), then other states of nature will be investigated e.g. (demand for the sports facility).
Given the three decision alternatives and the two states of nature, which sports complex should Madrid FC advance?
To answer this question, Madrid FC will need to know the consequence associated with each decision alternative and each state of nature.

Table 1: Payoff for Madrid FC Sports Complex (payoff in Euros million)

Low Demand High Demand
Size Decision S1 (p=0.4) S2 (p=0.6) Small D1 3000 3200
Medium D2 2500 2800
Large D3 2000 2100

Table 2: A survey was completed with 100 people that showed strong interest in signing up to train at the complex. A contingency table of the data is shown below

Trains more than 3 times a week
Trains less than 3 times a month TOTAL
Football fan 20 40 60
Non-football fan 20 20 40
TOTAL 40 60 100

Questions:
1) Based on the information in the case, what are Madrid FCs key drivers and objectives in this decision- making process?
2) Are there any other objectives that you think they should consider?
3) Identify the basic elements governing Madrid FCs decision-making (values, decisions, uncertain events, consequences, etc) ? 4) Develop a decision tree for this decision-making process.
5) What roles do decision trees and influence diagrams play in helping to understand and communicate the structure of your decisions in this project?
6) Which decision would you recommend based on your investigations. Justify your recommendations?
7) Given the information in the contingency table, what is the significance of this data and which marketing solutions might be applicable for Madrid FC?
8) Develop arguments on how decision-making could be improved in a project of this nature?

Submission: Week 12 – 8th January 2023, 23:59

Weight: This task is worth 60% of your total grade for this subject.
This assignment assesses the following learning outcomes:
• Outcome 1: to have an in-depth knowledge and understanding of effective decision-making processes within a business context marked by uncertainty
risk danger opportunity and growth.
• Outcome 2: Identify and apply interpretive and analytical methods for effective analysis and decision making
• Outcome 3: Apply the framework of effective decision-making within a business context and of risk management.
• Outcome 4: To critically appreciate the framework of problem analysis within the context of decision-making

Rubrics
Exceptional 90-100 Good 80-89 Fair 70-79 Marginal fail 60-69
Knowledge & Understanding
(20%)
You demonstrate excellent understanding of key concepts around decision making and risk management and you use vocabulary in an appropriate and coherent manner.
You demonstrate good understanding of the task and mentions relevant concepts around decision making and risk management. You use and demonstrates good use of the relevant vocabulary.
You understand the task and provides minimum theory around decision making and risk management with some use of relevant vocabulary.
You understand the task and attempts to answer the question, but you do not mention key concepts around decision making and risk management and you use minimum amount of relevant vocabulary.
Application and analytical thinking
(30%)
You apply to the assignment fully relevant knowledge from the topics of decision making and risk management and you recognizes all the decision analysis issues of the company in question.
You apply mostly relevant knowledge of decision-making and risk-management to the assignment and identify mostly relevant decision analysis issues of the organization.
You apply some relevant knowledge from the topics of decision-making and risk-management to the company. There are some misunderstandings evident. You somewhat recognize the relevant decision analysis issues of the company.
You apply little relevant knowledge from decision-making and risk-management the company. Misunderstands are evident. You do not recognize the key decision analysis issues of the firm and misinterpret or miss some key pieces of information.
Critical thinking (30%)
You critically assess in excellent ways the areas of decision-making and risk-management, drawing outstanding conclusion from your evaluations.
You critically assess in good ways decision-making and risk-management, drawing conclusions with very few missing pieces of information.
You provide some insights in terms of decision-making and risk-management, but information taken at face-value and no depth in the analysis. Some misinterpretations and several pieces of information not addressed. References may not be relevant or missing.
You make little or no attempt at critical thinking and insights do not provide appropriate information and data from the company. Several incoherencies.
Communication (20%)
You communicate your ideas extremely clearly and concisely, respecting word count, grammar and spellcheck. You use references (Harvard)
You communicate your ideas clearly and concisely, respecting word count, grammar and spellcheck. Some minor issues with English and references but
You communicate your ideas with some clarity and concision. Some issues with structure and/or wordcount. Some misspelling errors may be
You communicate your ideas in a somewhat unclear and unconcise way. You do not reach or does exceed wordcount excessively and misspelling errors are

correctly. You visualize data extremely well.
largely coherent. Somewhat good at applying visualisations to your information.
evident and affect slightly the reading. Poor visualisation of data. Some issues with references
evident. Harvard not used correctly. Some issues with structure and coherence. No visualisations of data.

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