IMMG 21043
>< Title : Operations
Research II
>< Type/Status : Core Course
>< Teaching and learning objectives:
This course is an extension of Operations Research I and
introduces probabilistic models. This course is designed to show how probabilistic
methods are applied to managerial decision-making under certainty and uncertainty.
The objective of this course is to present different types of scientific and
mathematical approaches for managerial decision making with quantitative and
modelling tools. Also, this emphasises on applications in practice as well as
analytical models and problem solving with the use of computer software for
problem solving.
On successful completion of this course, students will be able to transform
managerial situations into OR models, and apply the techniques learned under
certain, probabilistic, and uncertain situations
>< Course Content:
Project Scheduling:
Introduction to PERT and CPM, construction of networks, determining the critical
path, project scheduling with uncertain activity times, crashing activity times,
planning and scheduling, project costs.
Decision Theory and Games:
Introduction, Structuring the Decision Situations, Decision Making Under Uncertainty,
Decision Tree, Utility Theory. Two Person Zero-Sum Games with and without Saddle
Points; LP Solution of Zero-Sum Games.
Dynamic Programming: Introduction
to Dynamic Programming under certainty and under uncertainty, Infinite State
Dynamic Programming.
Waiting Line Theory: Waiting
Line Situations in Practical life, Arrival Distribution, Service Distribution,
Queue Discipline, introduction to Stochastic Processes, M/m/1, M/M/m Systems
with Finite & Infinite Population, Tandem Queues, An Introduction to other
Queuing models and Queuing networks.
>< Methodology:
The course will be delivered in a combination of lectures,
case discussions, tutorials, and applications of OR software such as TORA and
Microsoft Project.
>< Scheme of Evaluation:
End-of-semester examination and continuous assessment.
>< Recommended Reading:
1. Anderson D R, Williams T A and Sweeney S J, “An
Introduction to Management Science: Quantitative Approaches to Decision Making”,
9th Edition, West Publishing Company.
2. Hamady A. Taha, “Operations Research in Introduction”,
1997, Prentice Hall.
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