Abstract

This subject provides a foundation in basic practice of operations research, that is, solving the decision-making problems that commonly confront managers by developing mathematical models of those problems. The emphasis is on understanding the methods of developing mathematical models and the use of a software package in solving the problems.

Syllabus

Linear programming. Transportation, assignment and transhipment problems. Network models. Project management. Inventory models. Waiting line models. Decision analysis. Decision making with probabilities.

Learning outcomes

Upon successful completion of this subject, students should:
1.
be able to identify applications where operations research techniques can be used in the decision-making process;
2.
be able to construct mathematical models for the various management applications;
3.
be able to interpret/analyse, manually or automatically, the results from the mathematical models studied and use them in making better management decisions;
4.
be able to apply software in the process of decision making; and
5.
be able to demonstrate the use of mathematical models. statistics and algorithms to aid in decision-making.

Enrolment restrictions

Only available to Post Graduate students