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COURSE INTRODUCTION
This course is an introduction to the basic theory underlying Management Science and
Operations Research. It focuses on linear programming, the fundamental concepts, and
algorithms. Applications drawn from different functional areas of business will also be
presented. In particular, the course will cover a variety of applications of management science
in the areas of finance, marketing, and production such as capital budgeting, optimal sales
allocation, and scheduling and distribution. Special cases of linear programming problems, such
as the transportation problem and assignment problems will also be studied
COURSE OUTLINE
WEEK TOPIC
1 Introduction to Decision Theory
Problem Solving and Decision Making
Introduction to Quantitative Analysis
Models of Cost, Revenue and Profit
6 Network Models
Shortest-Route Problem
Minimal Spanning Tree Problem
Maximum Flow Problem
11 Simulation
Risk Analysis
Inventory Simulation
Waiting Line Simulation
12 Decision analysis
Structuring the Decision Problem
Decision Making with and without Probabilities
Decision Analysis with Sample Information
Computing Branch Probabilities
13 Multi-criteria Decisions
Goal Programming
Scoring Model
15 Forecasting
Component of Time Series
Smoothing Methods
Trend Projection
Trend and Seasonal Components.
16 Markov Processes
Market Share Analysis
Account Receivable Analysis
FINAL TERM EXAM
READING
Week 1
Introduction to Decision Theory
Key readings
(2009). An Introduction to Decision Theory. In D. R. Anderson, D. J. Sweeney, & T. A. Williams,
An Introduction to Management Science (pp. 3-18).
Week 2
Introduction to Linear Programming
Key reading
(2009). An Introduction to Linear Programming. In D. R. Anderson, D. J. Sweeney, & T. A.
Williams, An Introduction to Management Science (pp. 31-60).
(2004). Linear Programming. In P. C. Tulsian, & V. Pandaey, Quantitative Techniques (pp. 1.1-
1.57).
Week 3
Linear Programming: Sensitivity Analysis
Key reading
(2009). Linear Programming Sensitivity Analysis. In D. R. Anderson, D. J. Sweeney, & T. A.
Williams, An Introduction to Management Science (pp. 96-122).
Week 4
Linear Programming Applications
Key reading
(2009). Linear Programming Applications. In D. R. Anderson, D. J. Sweeney, & T. A. Williams, An
Introduction to Management Science (pp. 153-168).
Week 5
Transportation, Assignment and Transshipment Problems
Key reading
(2009). Transportation, Assignment and Transshipment Problems. In D. R. Anderson, D. J.
Sweeney, & T. A. Williams, An Introduction to Management Science (pp. 306-350).
(2004). Assignment Problem. In P. C. Tulsian, & V. Pandaey, Quantitative Techniques (pp. 4.1-
4.43).
(2004). Transportation Problem. In P. C. Tulsian, & V. Pandaey, Quantitative Techniques (pp.
5.1-5.24).
Week 6
Network Models
Key reading
(2009). Network Models. In D. R. Anderson, D. J. Sweeney, & T. A. Williams, An Introduction to
Management Science (pp. 428-446).
Course Study Guide for Management Science cont’d 7
Week 7
Project Scheduling: PERT/CPM
Key reading
(2009). Project Scheduling: PERT/CPM. In D. R. Anderson, D. J. Sweeney, & T. A. Williams, An
Introduction to Management Science (pp. 306-350).
(2004). PERT. In P. C. Tulsian, & V. Pandaey, Quantitative Techniques (pp. 7.1-7.4).
Week 9
Project Scheduling: PERT/CPM Contd.
Key reading
(2009). Project Scheduling: PERT/CPM. In D. R. Anderson, D. J. Sweeney, & T. A. Williams, An
Introduction to Management Science (pp. 306-350).
(2004). Cretical Path Method (CPM). In P. C. Tulsian, & V. Pandaey, Quantitative Techniques
(pp. 6.1-6.70)
(2004). Crashing, Resource Allocation and Smoothing. In P. C. Tulsian, & V. Pandaey,
Quantitative Techniques (pp. 8.1-8.41).
Week 10
Waiting Line Models
Key reading
(2009). Waiting Line Models. In D. R. Anderson, D. J. Sweeney, & T. A. Williams, An Introduction
to Management Science (pp. 306-350).
(2004). Queueing Theory. In P. C. Tulsian, & V. Pandaey, Quantitative Techniques (pp. 9.1-9.8).
Week 11
Simulation
Key reading
(2009). Simulation. In D. R. Anderson, D. J. Sweeney, & T. A. Williams, An Introduction to
Management Science (pp. 585-619).
(2004). Simulation. In P. C. Tulsian, & V. Pandaey, Quantitative Techniques (pp. 11.1-11.8).
Week 12
Decision Analysis
Key reading
(2009). Decision Analysis. In D. R. Anderson, D. J. Sweeney, & T. A. Williams, An Introduction to
Management Science (pp. 306-350).
(2004). Decision Tree. In P. C. Tulsian, & V. Pandaey, Quantitative Techniques (pp. 12.1-12.2).
Week 13 & 14
Multicriteria Decisions
Key reading
(2009). Multicriteria Decisions. In D. R. Anderson, D. J. Sweeney, & T. A. Williams, An
Introduction to Management Science (pp. 712-742).
Further reading
Analytical Hierarchical Process http://www.youtube.com/watch?v=18GWVtVAAzs
Week 15
Forecasting
Key reading
(2009). Forecasting. In D. R. Anderson, D. J. Sweeney, & T. A. Williams, An Introduction to
Management Science (pp. 758-784).
Further reading
Forecasting http://www.youtube.com/watch?v=DVEbZ__FNRg&feature=related
Time series Analysis http://www.youtube.com/watch?v=cC2kE2RcN68
Week 16
Markov Processes
Key reading
(2009). Markov Process. In D. R. Anderson, D. J. Sweeney, & T. A. Williams, An Introduction to
Management Science (pp. 808-821).