330.232 IT-based Management
This course is in all assigned curricula part of the STEOP.
This course is in at least 1 assigned curriculum part of the STEOP.

2020W, VU, 2.0h, 3.0EC
TUWEL

Properties

  • Semester hours: 2.0
  • Credits: 3.0
  • Type: VU Lecture and Exercise
  • Format: Distance Learning

Learning outcomes

After successful completion of the course, students are able to:

  • Design double closed-loop management control systems in the PDCA modeling language that are adequate for capturing uncertainty in the business environment
  • Discuss advantages and disadvantages of Traditional Budgeting, Beyond Budgeting, Activity-Based Budgeting and Continuous Budgeting within a solid foundation
  • Calculate Enterprise Business Cycles and corresponding Growth Cycles with the Rate-Of-Change (ROC)-forecasting approach
  • Calculate accurate predictions by using the scorecard modeling approach
  • Analyse more difficult systemic relationships with structural equations models
  • Determine optimal investment decisions by using the Minimum Exceedance Probability-optimization
  • Determine optimal Sales & Operations Planning (S&OP) decisions by using the stochastic control theory

Subject of course

In this lecture the focus lies on the design of Management Control Systems (MCS) and Decision Support Systems (DSS) surrounded by an uncertain business environment predominantly by 1) considering Double Closed-Loop Management Control Systems (e.g. Balanced Scorecard), 2) using predictive analytics methods in the corporate planning, forecasting and budgeting domain (e.g. ROC-based forecasting) and in the risk management (e.g. scorecard modeling in predictive maintenance domain), and 3) applying optimization procedure in the decision supporting systems e.g. Minimum Exceedance Probability (MEP) approach in the investment decision domain and the stochastic dynamic control theory in the Sales & Operations Planning (S&OP) domain.

Teaching methods

Imagine, your are hired by a company as an assistant of the executive board with the following responsibilities: 1) You assist the Chief Financial Officer (CFO) in setting up a Management Control System (MCS) in form of a double closed-loop planning and control system that is adequate for the firm’s uncertain business environment. 2) You are supporting the executive board in the corporate planning, forecasting and budgeting tasks by promoting predictive analytics methods. 3) You support the Chief Production Officer (CPO) in the Sales & Operations Planning (S&OP) for deriving stochastic optimal production plans. 4) With individual responsibility you design meta-model for the resource consumption-based planning and the variance-based control of direct material cost and indirect overhead costs in the production domain that allows the development of a software application with the Model Driven Software Engineering (MDE) approach.

In this course you acquire the needed knowledge, skills and competences for performing these tasks by discussing the key concepts according to the scholarly literature, by performing group work in break out sessions, by solving programming problems in the statistics language R and by performing a project assignment as group work.

Mode of examination

Immanent

Lecturers

Institute

Course dates

DayTimeDateLocationDescription
Fri08:00 - 10:0002.10.2020 - 22.01.2021 (LIVE)Lesson
IT-based Management - Single appointments
DayDateTimeLocationDescription
Fri02.10.202008:00 - 10:00 Lesson
Fri09.10.202008:00 - 10:00 Lesson
Fri16.10.202008:00 - 10:00 Lesson
Fri23.10.202008:00 - 10:00 Lesson
Fri30.10.202008:00 - 10:00 Lesson
Fri06.11.202008:00 - 10:00 Lesson
Fri13.11.202008:00 - 10:00 Lesson
Fri20.11.202008:00 - 10:00 Lesson
Fri27.11.202008:00 - 10:00 Lesson
Fri04.12.202008:00 - 10:00 Lesson
Fri11.12.202008:00 - 10:00 Lesson
Fri18.12.202008:00 - 10:00 Lesson
Fri08.01.202108:00 - 10:00 Lesson
Fri15.01.202108:00 - 10:00 Lesson
Fri22.01.202108:00 - 10:00 Lesson

Examination modalities

  • Proactive (ex-ante) discussion of weekly reading assignments
  • Permanent participation
  • Project assignment
  • Peer-Review
  • Final exam

Course registration

Begin End Deregistration end
05.09.2020 00:00 08.10.2020 23:59 08.10.2020 23:59

Curricula

Study CodeSemesterPrecon.Info
066 926 Business Informatics
066 936 Medical Informatics
066 937 Software Engineering & Internet Computing STEOP
Course requires the completion of the introductory and orientation phase

Literature

Distance Learning in TUWEL

Miscellaneous

Language

English