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ERIC Number: EJ802944
Record Type: Journal
Publication Date: 2004
Pages: 7
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-0951-354X
EISSN: N/A
Available Date: N/A
In Search of a Consensus Team Decision Budget Agreement
Chong, Philip S.; Runyon, Lowell R.
International Journal of Educational Management, v18 n5 p297-303 2004
In searching for a new budget formula for the College of Business at California State University at Long Beach, a major university in the west, several rational budget formulas were explored. This report develops an explanation in quantitative terms of the reasoning process pursued by the department chairs in arriving at the compromise budget allocation model that is currently in place in the college. It shows that in a group decision-making process concerning the allocation of resources, compromises are made between decision-makers in order to come to some common agreement, if one in fact exists. Rational models based on some formula are introduced, and resources can be allocated based on the formula. However, among the models presented using a decision matrix, the model that will eventually be selected is the one that has the minimal variance in ranking regrets and monetary regrets if the highest-ranking model is not chosen. The ranking regret provides a good guide and quick identification of the "most-likely-to-succeed" compromise model. However, the monetary regret appears to be the final compromise determinant. (Contains 9 tables.)
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Publication Type: Journal Articles; Reports - Evaluative
Education Level: Higher Education
Audience: Administrators
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A
Author Affiliations: N/A