Optimisation and Decision Modelling

Learning Outcomes

Knowledge and Understanding

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

• how to solve linear programming problems using different techniques;
• how to obtain sensitive analysis reports, and understand the concept of duality;
• how to use a standard linear programming package.
• how to model a wide range of business problems using optimisation techniques;
• how to recognise and be able to formulate and solve problems that require integer programming and goal programming;

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• decision making;
• teamwork;
• computer skills.
• problem structuring and solving;

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• critically analyse and interpret the solutions of decision-making.
• apply the principles and techniques to solve practical business problems;

• Understand how management science and business analytics approaches can be used to help business organizations and governments to make better decisions
• Analysing and modelling a wide range of business problems
• Solution approaches for different mathematical models
• The interpretation and implementation of mathematical models and solutions in business settings

Teaching and learning methods

Made up of 24 lectures, including computer labs. No seminars or tutorials.

Resources & Reading list

Textbooks

BW Taylor III (2012). Introduction to Management Science. Pearson.

FS Hillier and MS Hillier (2013). Introduction to Management Science: a Modelling and Case Study Approach with Spreadsheets. McGraw-Hill.

B Render, RM Stair Jr. and N Balakrishnan (2012). Managerial Decision Modelling with Spreadsheets. Prentice Hall.

DR Anderson, DJ Sweeney, TA Williams AND M Wisniewski (2010). Introduction to Management Science: Quantitative Approach to Decision Making (Int'l Ed). South-Western.

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