Program Overview

Decision and Risk Analysis (MSIN0071)

Key Information

• Faculty: Faculty of Engineering Sciences
• Teaching department: UCL School of Management
• Credit value: 15
• Restrictions: N/A

Alternative Credit Options

There are no alternative credit options available for this module.

Description

Important business decisions cannot be left to intuition alone. We need to communicate the structure of our reasoning, defend it to adversarial challenges, and make presentations that show we have done a thorough analysis. We also need to make sense out of various sources of data, organise the inputs of experts and colleagues, and use state-of-the-art tools to provide analytical support for our reasoning.

The objective of this course is to equip you to be more effective in these tasks. You will develop skills in data analysis, structuring decisions, building decision models, risk assessment, decision making under uncertainty, recognising areas where business analysis can add value, selecting appropriate types of analyses, and learn to apply them in a small scale, quick-turnaround fashion.

This is a practical course, which uses state-of-the-art decision support software to illustrate how to apply the methodologies introduced. Therefore, the course consists of a mixture of lectures and computer workshops. The software used in the lectures and workshops is Microsoft Excel, with add-ins @Risk for simulation, PrecisionTree for decision analysis, and Solver for optimisation. To ensure your working knowledge of Excel, we require you to attend a workshop session in Excel in Term 1 and complete the necessary assignment prior to the start of the course.

Module Deliveries for 2026/27 Academic Year

Intended Teaching Term: Term 2, Postgraduate (FHEQ Level 7)

Teaching and Assessment

• Mode of study: In person
• Methods of assessment:
  • 70% Exam
  • 30% In-class activity (3 assessments)
• Mark scheme: Numeric Marks

Other Information

• Number of students on module in previous year: 82
• Module leader: Professor Steve Yoo

Intended Teaching Term: Term 2, Undergraduate (FHEQ Level 7)

Teaching and Assessment

• Mode of study: In person
• Methods of assessment:
  • 70% Exam
  • 30% In-class activity (3 assessments)
• Mark scheme: Numeric Marks

Other Information

• Number of students on module in previous year: 9
• Module leader: Professor Steve Yoo