Models of Operations Research

Paper Code: 
ABF 401
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

The objective of this course is to acquaint the students with the use of operations research techniques in decision-making.
CLO140 Discriminate the characteristics of different types of decision-making environments and the appropriate decision making approaches and tools to be used in each type.

CLO141 Formulate the mathematical tools that are needed to solve optimization problems.

CLO142 Students will design and solve transportation Models and assignment models.

CLO143 Persuade the best strategy using decision making methods under uncertainty and game theory.

CLO144 Design new simple models, like: CPM, PERT to improve decision –making and develop critical thinking and objective analysis of decision problems.

12.00
Unit I: 
Operations Research

Operations Research: Basic Concepts and Definitions, merits and demerits, Techniques of operations research, role of operations research, application areas of operations research.
Linear Programming: Mathematical formulation of Linear Programming problems and their solution using Graphic approach and Simplex method, Duality.

10.00
Unit II: 
Transportation

Transportation: Solving the problem. Testing the optimality using MODI method. Cases of unbalanced problems, Degeneracy, Maximization objective.
Assignment:Solving the problem, Cases of unbalanced problems, multiple optimum solutions, maximization objective.

8.00
Unit III: 
PERT/CPM

PERT/CPM:Network with one estimate of time, Networks with three estimates of time, Time-cost trade-off, Probability consideration under PERT.

8.00
Unit IV: 
Game Theory

Game Theory: Games of Pure strategy, Games of Mixed strategy, Law of Dominance, Sub Game method.
Queuing Theory: Meaning, features, elements of queuing theory, queuing system, Single Channel Queuing Problem.

7.00

Decision Theory: Maximin, Minimax, and Maximax expected pay off and regret, Expected value of Perfect Information.
Simulation- Meaning, Phases and Applications. Monte-Carlo Method – Concept & Steps.

Essential Readings: 

1. Quantitative Methods- N.K Nag (Kalyani Publishers)
2. Operational Research-Mathur, Khandelwal Gupta,Gupta (Ajmera Book Company)
3. Operational Research-V.K Kapoor (Sultan Chand)

References: 

1. Operational Research-Prof N.P.Agarwal (Ramesh Book Depot)
2. Quantitative Techniques- C.R Kothari(Vikas Publishing House Pvt Ltd)
3. Vohra N.D, Quantitative Techniques in Management, (Tata McGraw Hill New Delhi )
4. Taha, Hamady A, Operational Research- An Introduction, Prentice Hall of India

Academic Year: 
2021-2022
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