Study-Unit Description

Study-Unit Description


CODE MGT2031

 
TITLE Operations Research

 
LEVEL 02 - Years 2, 3 in Modular Undergraduate Course

 
ECTS CREDITS 4

 
DEPARTMENT 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 and Excel QM 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, Sensitivity Analysis.

• Queuing Theory: Characteristics of A Queuing system; Simple System (M/M/1); Multi-channel System (M/M/S); Constant Service (M/D/1); the Limited Population Model; Use of Excel QM for Queuing problems.

• Project Management: AON network; PERT; PERT/Cost; Critical Path Method (CPM); project Crashing.

• Network Models: Minimal Spanning tree technique; Maximal flow technique; shortest-route technique.

• Inventory Analysis: The Basic-Economic Order Quantity (E0Q) model; The Production Order Quantity Model; the Quantity Discount Model, the use Excel QM to solve inventory problems.

• 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, the role of computers in simulation.


Main Text/s:

Render, B., Stair, R.M. & Hanna, M. E. (2012) Quantitative Analysis for Management (11e). Pearson Education Ltd.


Supplementary Readings:

Anderson, D.R., Sweeney, D.J., Williams, T.A. & Martin, K. (2011) An Introduction to Management Science: quantitative Approaches to Decision Making (13e). South Western/Cengage Learning .

Hillier, F.S. & Lieberman, G.J. (2010) Introduction to Operations Research (9e). Mc-Graw Hill.

 
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 Resit Availability 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 study-unit description above applies to the academic year 2019/0, if study-unit is available during this academic year, and may be subject to change in subsequent years.

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