5 assignments Sir_excellence

5 assignments

Defining the Problem and Setting Objectives

Refine and pose a reasonably complex problem definition along with a set of objectives (elements that you want to exist in your solution).  Do not go beyond the objectives stage.

 

Remember: Objectives are the desirable traits of a potential solution. They are not alternatives and they are not action steps. This can be tricky, so think carefully and evaluate your list!

 

1. Provide your view and just enough background detail to allow the reader to understand the problem and objectives.

2. The length should be between 550 and 800 words (excluding the title page and references). Assignments under 550 and over 800 words will attract penalties.

3. Formal writing is required using APA.

4. Copied input, quotations, and paraphrasing require citations and references conforming to APA 6th edition standards to avoid the dire consequences of plagiarism and cheating. Formal research is not required.

Instructions

Week 3 - Assignment (W3A3)

Provide an analysis of your employer's or another company's risk tolerance and risk exposure. Include the impact this tolerance and exposure may have on potential outcomes. Be sure to include a numerical risk analysis for full points. The numerical portion can be as simple as the important and likelihood scale in the text or as complicated as the financial impact spreadsheet provided in this module.The article on risk assessment will be helpful.  

Select and include some paraphrased content relating to risk from one of the following sources from the SPC electronic library within the EBSCOhost set of databases.  Each of the following is an incorrect APA reference, they do not have the page numbers.  You will have to include a proper APA reference to avoid a significant penalty.

Kahneman, D., & Lovallo, D. (1993). Timid choices and bold forecasts: A cognitive perspective on risk taking. Management Science, 39. doi: 10.1287/mnsc.39.1.17

Kahneman, D., Lovallo, D., & Sibony, O. (2011a). Before you make that big decision. Harvard Business Review, 89(6).

Lovallo, D., & Kahneman, D. (2000). Living with uncertainty: Attractiveness and resolution timing. Journal of Behavioral Decision Making, 13(2).

Lovallo, D., & Kahneman, D. (2003). Delusions of success. Harvard Business Review, 81(7).

Additional Article:

Crickette, G., Deimian, R., Fox, C., Hach, J., Makomaski, J., Mazumadar, R & McGuire, R. (2012). Exploring risk appetite and risk tolerance. (RIMS Executive Report). Retrieved from Risk and Insurance Management Society website:  https://www.rims.org/resources/ERM/Documents/RIMS_Exploring_Risk_Appetite_Risk_Tolerance_0412.pdf

Any in text cite would be shown as (Crickette et al., 2012)  since the article contains more than 6 authors. 

Required:

· The assignment should contain your opinion substantiated by theories from the reading and content from one of the articles above.

· The response should include a numerical risk analysis.

· The length should be between 600 and 800 words (excluding the title page and references).

· Formal writing is required using APA.

· Copied input, quotations, and paraphrasing require citations and references conforming to APA 6th edition standards. 

Instructions

1. Comment on 3 specific decision tools (choose tools rather than processes such as McMasters, the problem solving steps, etc) that you have encountered in this course that contribute to decision making through one or more of the following:

o   Decision analysis

o   Reducing uncertainty

o   Risk analysis

 

2. Explain how the 3 tools you've chosen might support improved decision making, providing examples. You must include appropriate details/examples that relate to the use of the tools.

3.  Illustrate how one cognitive mapping tool from the article in this module would enhance the decision process for either one of your examples or the problem you posed in this week's discussion. Provide the diagram/map of your work. You may construct your own chart to fill in or use one of the free mind mapping tools available online. You'll need to paste your final result into your Word document.

· The length should be between 400 and 550 words plus the cognitive map, excluding the title and references.

· Formal writing is required using APA.

· Formal research is not required beyond the article above, our textbooks, and other course documents.

· Comply with all APA 6th ed. citation and referencing rules. 

First, watch the video. It walks you through how to use the TRIZ matrix. You may use the scenario from last week or you may choose a new problem. Keep in mind that TRIZ works best with complex problems. If alternatives are easily generated, then a fancy tool is of little use! 

*I have included links and a few helpful comments at the end of the assignment information.

INSTRUCTIONS

Use TRIZ techniques to generate new ideas, alternatives, and potential solutions for your business problem.You may use the scenario from last week or a new scenario. You must use the TRIZ tool. Discuss the tool and your use of the techniques and the results on your problem. You should include a cover page and a second page with brief detail regarding your problem and objectives.Include the specific numbers and labels for the principles, features, etc. 

You should include a cover page and a second page with a brief summary that defines the problem, its background, and a list of objectives.

The response should be of your personal view or experience and include at least two external sources to support your views (beyond the textbooks).

The length must be between 600 and 900 words excluding the title, problem statement, and references.

Formal writing is required using APA.

Copied input, quotations, and paraphrasing will require citations and references conforming to APA 6th edition standards.

Links and Additional Information about TRIZ

Online TRIZ Tool

Use this online tool to enter up to 3 factors that will improve the problem.  Remember, some terms might not fit the problem exactly, so you can be creative in how you associate the terms.  Enter up to 3 factors that might degrade the situation as the improvements are made.   The tool will provide several principles that can be translated to help you come up with alternatives.

http://www.time-to-innovate.com/en/steps_matrix

Translations for Principles

Once you have entered your improving and degrading options, the tool will provide a list of principles to help generate alternatives.   Depending on the type of problem you have, some of these lists will help you translate the engineering-based principles to easier to understand business, general, food or human related terms.

Business:  https://triz-journal.com/40-inventive-business-principles-examples/

General: https://triz-journal.com/40-inventive-principles-examples/

Food: https://triz-journal.com/40-inventive-food-principles-examples/

Human Factors and Ergonomics: https://triz-journal.com/40-inventive-principles-for-human-factors-and-ergonomics/

· Retrieve the interview with Kahneman, in the March 2012 Gallup Management Journal titled The Truth About How We Think; We're all prey to cognitive mistakes, says Nobel Laureate Daniel Kahneman. But knowing that can help you avoid them from the Internet. You may need to use a search engine, or search the online library.  

No matter how rational we think we are; biases, heuristics, and other fallacies can keep us from making sound decisions.  Kahneman has conducted numerous studies of how people actually make decisions, a field known as behavioral economics. 

INSTRUCTIONS

How can we better avoid the fallacies in thinking that Kahneman described? Describe how you have fallen prey to one of his fallacies in thinking. You'll want your example to be complex enough to warrant using a decision tree to make a better choice. Construct a decision tree in reference to a past personal or business decision in which you fell prey to fallacious thinking. After presenting your decision tree (showing what you should have known/done), discuss how this tool might help you prevent such a mistake in the future.  You may either paste your decision tree in your document or attach as a separate document. Identify why and how a decision tree might aid you in making better decisions in relation to Kahneman's concerns.

· Restrict your response to decision-making step of the decision process, some call this step judgment and others assessment.  Do not consider tools that apply to other parts of the decision process.

· The Course Materials folder contains a sub-folder with many examples, some of them are for the decision making stage. The response should be your personal view; however, research and input from other sources may enhance your work. You would need to cite your sources; including the interview mentioned above.

· Notice that this assignment has a reduced allocation of points, implying limited depth and shorter response

· The length should be between 350 and 450 words, excluding the title page and references.

· Formal writing is required using APA, but you need not restrict yourself to the third-person.

· Copied input, quotations, and paraphrasing will require citations and references conforming to APA 6th edition standards.