Course overview
This course provides significant hands-on experience to structure assessment and modelling solutions to real-world problems, using Microsoft Excel as the analytical platform students will develop skills to assess decision-making outcomes at operational (e.g. farm) and higher (i.e. agricultural system) levels. A number of analytical frameworks may feature throughout the course schedule including: gross margin budgeting; whole of farm budgets; benefit-cost analysis; optimization; risk and uncertainty analysis. Ahead of each of these analytical frameworks students will be provided a set of solid theoretical foundations as a basis for the skill development. Techniques learned will allow students to assess the current state of the business and to evaluate potential improvements to enhance profitability and sustainability while accounting for the limited resources available to the operation.
Course learning outcomes
- Identify relevant data sources, analyse alternative investments, evaluate their profitability and describe the risks and uncertainty to investments in agriculture.
- Apply problem-solving skills through practical exercises and case studies to engage with and represent agricultural systems and decision-making problems.
- Identify and apply appropriate strategies for investment analysis by interpreting decision-maker objectives, resource implications, risk factors and applying optimisation techniques.
- Analyse profitability, cash flows and business opportunities through the application of computer-based techniques and tools for decision-making under risk and uncertainty.
- Document, prepare and present decision-making skills through assigned tasks and practical exercises that could be presented at Policy Group, Board or Senior Management levels.