Prescriptive Analytics I: Fundamentals of Management Sciences

Learning Outcomes

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• apply a number of the core MS approaches;
• apply MS in practical contexts in a considered manner;
• evaluate the outcome of the MS approaches with respect to sensitivity and uncertainty.

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• use specialised software to solve mathematical programming problems and perform discrete- event simulations

Subject Specific Practical Skills

Having successfully completed this module you will be able to:

• use problem-solving skills;
• use rational analytic skills.
• use quantitative modelling approaches;

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• the nature of MS, its history and the context of its contribution to management;
• the practical use of MS approaches.
• the range of techniques, tools, models, methods and approaches;

Management Science: history, context, and the management science process. Mathematical modelling: the development and formulation of a mathematical model.

Solution approaches for management problems; specifically, Linear and Integer Programming, Inventory Theory, Simulation, Queuing Theory, Network Models and Project Scheduling.

The interpretation of the mathematical models and solutions in management science.

Teaching and learning methods

Teaching methods include:

• Lectures that will cover the taught material and include example problems and worked solutions and class discussion.
• Classes where problem example sheets will be set in advance to be discussed and solved in the class.
• Computer workshops where tutorial sheets will be provided on simulation and optimisation.

Learning activities include:

• Computer workshops on Linear Programming
• Computer workshops simulation modelling
• In class debate and discussion
• Private study

Resources & Reading list

Textbooks

Albright S. C., and Winston W. L. (2007). Management Science Modelling . Thomson South-Western.

Anderson D.R., Sweeney D.J., Williams T.A., and Wisniewski, M (2009). An Introduction to Management Science: Quantitative Approaches to Decision Making. Cengage Learning.

Hillier F.S., and Lieberman G.J. (2005). Introduction to Operations Research . McGraw-Hill.

Formative

This is how we’ll give you feedback as you are learning. It is not a formal test or exam.

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.

Repeat Information

Repeat type: Internal & External