Study-Unit Description

Study-Unit Description


CODE MGT2031

 
TITLE Operations Research

 
UM LEVEL 02 - Years 2, 3 in Modular Undergraduate Course

 
MQF LEVEL 5

 
ECTS CREDITS 4

 
DEPARTMENT Business and Enterprise Management

 
DESCRIPTION Rationale & Learning Objectives:

• To introduce students to the basic operations research techniques used in commerce and business management;
• To introduce students to the methodology of operations research, where the various techniques and their role in operations research study involving specific problem areas would be placed in perspective;
• To introduce students to the use of EXCEL so that they can model and solve problems electronically.

Indicative Syllabus & Study-unit Outline:

• Linear Programming: Graphical Solution to a LP problem, LP applications involving equality constraints, inequality constraints, negative right-hand sides and minimization problems, Use of Excel to solve LP problems, and Sensitivity Analysis;
• Project Management: AON network; PERT; PERT/Cost; Critical Path Method (CPM); Project crashing; and Use of Excel to solve project manangement problems;
• Network Models: Minimal Spanning tree technique; maximal flow technique; shortest-route technique; use of Excel to solve network problems;
• Inventory Analysis: The Basic-Economic Order Quantity (E0Q) model; The Production Order Quantity Model; the Quantity Discount Model, and the use of safety stock;
• Simulation: Advantages and disadvantages of simulation, Monte Carlo simulation; simulation and queuing problems, simulation and inventory analysis, simulation of a maintenance policy, verification and validation, and the role of computers in simulation.

Main Text/s and any supplementary readings:

Main Texts:

- Render, B., Stair, R.M., Hanna, M. E. & Hale, T.S. (2018) Quantitative Analysis for Management (13e, Global Edition). Harlow: Pearson Education Ltd.

Supplementary Readings:

- Anderson, D.R., Sweeney, D.J., Williams, T.A., Camm, T.A., Cochran, J.J., Fry, M.J. & Ohlmann, J.W.(2016) An Introduction to Management Science: quantitative Approaches to Decision Making (14e). Boston: Cengage Learning.
- Taylor. B.W. (2019) Introduction to Management Science (13e). Boston: Pearson.

 
RULES/CONDITIONS Before TAKING THIS UNIT YOU MUST TAKE EMA1008 AND TAKE EMA1009 AND TAKE EMA1100 AND TAKE EMA1200

 
STUDY-UNIT TYPE Lecture

 
METHOD OF ASSESSMENT
Assessment Component/s Assessment Due Sept. Asst Session Weighting
Examination (2 Hours) SEM1 Yes 100%

 
LECTURER/S Frank H. Bezzina

 

 
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Units not attracting a sufficient number of registrations may be withdrawn without notice.
It should be noted that all the information in the description above applies to study-units available during the academic year 2024/5. It may be subject to change in subsequent years.

https://www.um.edu.mt/course/studyunit