Module overview
This module will provide you with a sound foundation in the application of the many tools and techniques of management science. You are expected to learn the tools and the applications of modelling, optimization, computing and programming in solving practical problems drawn from many functional areas (operations, finance, marketing, and human resources, etc.) in different organizations (industry, finance, public sector, etc.).
Aims and Objectives
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 model a wide range of business problems using optimisation techniques;
- how to use a standard linear programming package.
- how to obtain sensitive analysis reports, and understand the concept of duality;
- 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;
Syllabus
- Model building for business problems. Linear programming model formulation and graphical solution
- Analysis of special linear programming solutions
- Linear programming applications and their computer solution
- The Simplex method for solving linear programming
- Duality and sensitivity analysis in linear programming, including graphical sensitivity analysis, simplex-based sensitivity analysis, and computer sensitivity analysis
- Integer programming: modelling, applications and algorithms,
- Transportation, assignment and transhipment problems
- Multicriteriai decisions.
Learning and Teaching
Teaching and learning methods
Made up of 24 lectures. No seminars or tutorials. Students are allowed to select their own group members, normally 4 students in a group. Since the assignment is about mathematical modelling, students are expected to arrange all meeting themselves, including discussing problems, building up models, solving the models using software arrange, and writing reports. There will be a very brief introduction about group work, which normally occurs during lectures.
| Type | Hours |
|---|---|
| Independent Study | 126 |
| Teaching | 24 |
| Total study time | 150 |
Resources & Reading list
Textbooks
B Render, RM Stair Jr. and N Balakrishnan (2012). Managerial Decision Modelling with Spreadsheets. Prentice Hall.
FS Hillier and MS Hillier (2013). Introduction to Management Science: a Modelling and Case Study Approach with Spreadsheets. McGraw-Hill.
DR Anderson, DJ Sweeney, TA Williams AND M Wisniewski (2010). Introduction to Management Science: Quantitative Approach to Decision Making (Int'l Ed). South-Western.
BW Taylor III (2012). Introduction to Management Science. Pearson.
Assessment
Formative
This is how we’ll give you feedback as you are learning. It is not a formal test or exam.
Questions and answersSummative
This is how we’ll formally assess what you have learned in this module.
| Method | Percentage contribution |
|---|---|
| Examination | 80% |
| Group project | 20% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
| Method | Percentage contribution |
|---|---|
| Examination | 100% |
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.
| Method | Percentage contribution |
|---|---|
| Examination | 100% |
Repeat Information
Repeat type: Internal & External