49001 Judgment and Decision Making
Warning: The information on this page is indicative. The subject outline for a
particular session, location and mode of offering is the authoritative source
of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.
Subject handbook information prior to 2016 is available in the Archives.
Credit points: 6 cp
Subject level:
Postgraduate
Result type: Grade and marksThere are course requisites for this subject. See access conditions.
Description
This subject develops understanding of rational decision aids in light of modern descriptive theories of judgment, choice and decision in organisations. The methods of management science, decision analysis and judgment analysis are presented, and models of individual, group and strategic decision-making are critically assessed.
Drawing on the insights of psychology, sociology and management science, this subject aims to inform you about the many facets of good judgment associated with decision-making.
Subject objectives
Upon successful completion of this subject students should be able to:
| 1. | Show a well developed awareness of management behaviour, the structure of organisations and the way decisions are made. |
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| 2. | Explain the particular difficulties many technical people experience when faced with managerial decision-making |
| 3. | Analyse and propose solutions to typical managerial problems/opportunities using rational, analytical decision modelling. |
| 4. | Communicate and explain the dichotomies of decision-making in the presence of hazards and risk. |
| 5. | Demonstrate a knowledge of the psychology of judgment and the nature of individual decision-making and be able to explain the critical importance of psychological factors, personal values and social norms. |
| 6. | Recognise the advantages and drawbacks of group decision-making and be able to effectively manage individual decisions in their domain of expertise as well as more broad ranging group decisions. |
| 7. | Exhibit a sound knowledge of key current thinking regarding the sociology of strategic decisions. |
This subject also contributes specifically to the development of the following faculty course intended learning outcomes and Engineering Australia (EA) Stage 1 competencies:
- A3. Identify constraints, uncertainties and risk of the system (social, cultural, legislative, environmental, business etc.) (A.3)
- A5. Apply systems thinking to understand complex system behaviour including interactions between components and with other systems (social, cultural, legislative, environmental, business etc.) (A.5)
- B4. Apply decision-making methodologies to evaluate solutions for efficiency, effectiveness and sustainability (B.4)
- B6. Demonstrate research skills (B.6)
- C3. Evaluate model applicability, accuracy and limitations (C.3)
- D2. Reflect on personal and professional experiences to engage in independent development beyond formal education for lifelong learning (D.2)
- E1. Communicate effectively in ways appropriate to the discipline, audience and purpose. (E.1)
Teaching and learning strategies
The subject is offered in a number of different modes. Each learning mode has a separate subject outline. The learning objectives and content are the same for all modes. There are however some differences in emphasis and in assignment work as a result of specific constraints presented by the various modes. The Subject Outline for the specific session (formerly called semester) of study being undertaken must be read in conjunction with the Supplementary Instructions. Both documents will be posted on UTSOnline and provide information and advice on many facets of the subject content, its administration and the student’s obligations. It is mandatory that students obtain, read and comply with the requirements of both the subject outline and supplementary instructions.
Subject announcements will be made using UTSOnline. Students are expected to regularly check the announcements page for information.
Whilst your study approach is a personal choice, do keep in mind that this subject is not one that can be mastered by some cursory reading and frantic activity prior to the due dates for assignments and reviewing the material a few weeks prior to the final exam.
An important part of the subject design is aimed at providing opportunity for students to develop their reasoning skills as well as their independent learning capacity.
A willingness to take personal responsibility is a key element of successful learning. It is estimated that you should set aside a minimum total of approximately 9 hours of study time per week (inclusive of any face to face contact) throughout the session. This is a rough guide only as people learn at different rates and will approach the subject from different backgrounds and levels of experience and have different ambitions and expectations in regard to outcomes.
To maximise your learning from this subject you should work consistently and progressively throughout all weeks of the session. The best way to achieve this is to plan your study time at the beginning of the session and make sure you adhere to the planned schedule. In developing a study schedule please note that you will find that the information load in each topic is not identical, for example “The Management Setting” exceeds that of the others by a factor of about two and may need proportionally greater effort and time. "Decision Analysis" requires the understanding that can only be developed by attempting the set of self-assessment problems. Many of the subject insights are associated with human behaviour and bias, they often take people considerable time to process and fully come to terms with and absorb. Also be aware of the assignment due dates as they set time limits for achieving necessary competence in some aspects of material comprehension and subject objectives. It is also reasonable to expect assignment deadlines will add a potential work load peak.
Assessment task 1 aims at encouraging you to immediately commence study and to use the text and the reading material in a thoughtful and productive manner.
The subject is literature based. The approach is very academic in the traditional sense, information is drawn from the body of knowledge and some synthesis is attempted. A degree of practicality is introduced through anecdotes, which lightens the experience for the student and assists them make connections to an industry framework.
The contact sessions and available subject resources (refer "Required texts" and "Other resources") focus on students undertaking conscientious engagement with significant components of a body of knowledge. It is important to understand the difference between rote learning and the development of expertise. Rote learning merely helps you retain material in your Short Term Memory. ‘Elaborative rehearsal’ which places the material into your Long Term Memory is crucial for the development of professional expertise. Elaborative rehearsal requires you to pay attention to the meaning of the material (understanding) and, in the process, try to relate items with each other and with the structure of the facts and evidence. Elaborative rehearsal will place the material into ‘schemata’, or structures in your cognition that relate one item to another, rather than into groups of disjointed facts. This is the underlying basis of expertise and will enhance better application of domain knowledge in stressful situations and easy retrieval during the formal examination.
The UTSOnline tests will aid elaborative rehearsal.
Content
The list below sets out the seven basic topics of the subject and the appropriate chapters in the textbook and the Reading Material and Exercises book (RME):
- The Management Setting; chapters 1, 2 and 3; RME section 1
- Decision Analysis; chapter 4; RME section 2
- Multi-attribute Decisions; chapter 5; RME section 3
- Engineering and Social Risk; chapter 6; RME section 4
- Cognitive Processes; chapter 7; RME section 5
- Individual and Group Decisions; chapters 8 and 9; RME sections 6 and 7
- Strategic Decisions; chapters 10, 11 and 12; RME section 8
The Reading Material and Exercises book is divided into eight sections. The literature tends to treat individual and group decisions as separate areas of study however the lecturer, more recently, has taken the view that Group Decisions can be reasonably considered to be a special or extended case of Individual Decision making.
Assessment
Assessment task 1: Abstract assignment
| Objective(s): | This assessment task addresses subject learning objectives: 1, 2, 3, 4, 5, 6 and 7 This assessment task contributes to the development of the following course intended learning outcomes: A.3, A.5, D.2 and E.1 | ||||||||
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| Type: | Report | ||||||||
| Weight: | 20% | ||||||||
| Length: | Total Assignment length = 4 x (300 plus 150) = 1800 words. The word limit for each individual component must not be exceeded by more than 10%. Accordingly, each abstract must be no more 300-330 words followed by a maximmum 150-165 word example. | ||||||||
| Criteria: |
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| Criteria linkages: |
SLOs: subject learning objectives CILOs: course intended learning outcomes |
Assessment task 2: Group talk assignment (Standard mode students only)
| Objective(s): | This assessment task addresses subject learning objectives: 1, 2, 3, 4, 5, 6 and 7 This assessment task contributes to the development of the following course intended learning outcomes: A.3, A.5, B.6 and E.1 | ||||||||
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| Type: | Presentation | ||||||||
| Groupwork: | Group, group assessed | ||||||||
| Weight: | 25% | ||||||||
| Length: | The group verbal presentation is tightly time contrained. The group report is limited to two pages in length (conceptually a single sheet of paper printed on both sides). The individual tasks undertaken during the presentation meeting must be submitted at the end of the meeting. | ||||||||
| Criteria: |
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| Criteria linkages: |
SLOs: subject learning objectives CILOs: course intended learning outcomes |
Assessment task 3: UTSOnline Web-based Tests
| Objective(s): | This assessment task addresses subject learning objectives: 1, 2, 3, 4, 5, 6 and 7 This assessment task contributes to the development of the following course intended learning outcomes: A.3, A.5, B.4 and C.3 | ||||||||
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| Type: | Quiz/test | ||||||||
| Weight: | 5% | ||||||||
| Criteria: |
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| Criteria linkages: |
SLOs: subject learning objectives CILOs: course intended learning outcomes |
Assessment task 4: Formal Examination
| Objective(s): | This assessment task addresses subject learning objectives: 1, 2, 3, 4, 5, 6 and 7 This assessment task contributes to the development of the following course intended learning outcomes: A.3, A.5, B.4 and C.3 | ||||||||
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| Type: | Examination | ||||||||
| Weight: | 50% | ||||||||
| Criteria: |
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| Criteria linkages: |
SLOs: subject learning objectives CILOs: course intended learning outcomes |
Minimum requirements
A pass in the subject is achieved by gaining a total of 50 marks and at least 40 per cent of the total marks available in the final examination.
Required texts
The text is essential. The set text is Parkin, J.V. (1996) Management Decisions for Engineers, Thomas Telford, London.
Note: free, legal pdf versions of each chapter can be obtained from the web (details will be provided on the UTSOnline announcement board).
The text may be obtained from the Co-op Bookshop refer to http://www.coop-bookshop.com.au - students can order online arrange to pick the book up from a store or have it mailed or delivered. The Co-op Bookshop has a general store at 3 Broadway, City Campus as well as specialist stores on the Broadway campus. Refer to the Co-op web site for further details and opening hours.
The text is also available from some web book sellers.
Other resources
UTSOnline
The subject is supported by UTSOnline http://online.uts.edu.au/webapps/login/
Substantive subject advice will be provided progressively throughout the study session via the subject’s UTSOnline site. Access to the site will be available to enrolled students at the beginning of the transition week(s). Students enrolling after the start of the session will experience a delay before access is granted.
The site is intended to be your resource and web interface. Please note that UTS prides itself as a place of learning and tolerance. The University will take action to protect its reputation in this regard. Student behaviour within the UTSOnline virtual portal should be in keeping with appropriate behaviour anywhere on the campus. Please be aware that the University and the lecturer monitor the site and that the software supports extensive traceability of activity.
Supplementary Instructions
The Supplementary Instructions document is posted on UTSOnline, it must be read in conjunction with the study session specific Subject Outline.
The Reading Material and Exercises (RME) and Lecture Support Notes (LSN) books.
The Reading Material and Exercises book contains a number of readings to supplement the set text. The readings serve to amplify points in the text or illustrate a different emphasis. They are made up of copies of journal papers or portions of key books and are written by acknowledged experts in the field. These readings are important if a student desires a well rounded understanding of judgment and decision-making. Each section of the RME starts with a brief introduction to the material and how it relates to management decision-making. This is followed by statement of the learning objectives of the section. It must be emphasised that the learning objectives cannot be achieved without working through the material in a measured fashion. The Exercises are designed to encourage you to read the Text and Readings thoughtfully and the exercises will allow you to test your comprehension. Sample EXEMPLAR responses to some of the exercises are provided.
The Lecture Support Notes are provided as a resource additional to the Text and the RME. The LSN is the focus of the blended lecture series associated with the subject. It has been organised to enable the reader to work through the material in a measured and comprehensive manner if they are unable to attend the lectures. Note carefully the advice given above that the formal examination will test your knowledge of the textbook.
Students can purchase, at cost, a copy of both the RME and the LSN at the UTS Union Shop. Distance student will receive this material via post, for more information visit https://my.feit.uts.edu.au/pages/course/postgraduate/distance_mode
Electronic copies of the RME and LSN are freely available to all enrolled students on UTSOnline.
