PRINCIPLES AND PRACTICES OF OPERATIONS RESEARCH

Paper Code: 
ABF 301
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Outcomes

 

Learning and teaching strategies

Assessment Strategies

On completion of this course, the students will be able to:

CO 150: Discriminate the characteristics of different types of decision making environments and the appropriate decision making approaches and tools to be used in each type.

CO 151: Formulate the mathematical tools that are needed to solve optimization problems.

CO 152: Students will design and solve transportation Models and assignment models.

CO 153: Persuade the best strategy using decision making methods under uncertainty and game theory.

CO 154: Design new simple models, like: CPM, PERT to improve decision –making and develop critical thinking and objective analysis of decision problems.

Interactive Lectures, Discussion, Tutorials, Team teaching

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects

 

 

12.00

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

12.00
Unit II: 

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: 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: 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
Unit V: 

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: 
  • Agarwal , N.P Operational Research Ramesh Book Depot
  • Nag, N.K.  Quantitative Methods   Kalyani Publishers
  • Mathur, Khandelwal Gupta,& Gupta Operational Research Ajmera Book Company

 

References: 

SUGGESTED READINGS:

  • Kapoor, V.K.  Operational Research Sultan Chand
  • Kothari , C.R. Quantitative Techniques  Vikas Publishing House Pvt Ltd
  • Vohra N.D Quantitative Techniques in Management   Tata McGraw Hill New Delhi 
  • Taha, Hamady A, Operational Research  An Introduction    Prentice Hall of India

e  RESOURCES:

·        https://www.bbau.ac.in/dept/UIET/EME 601%20Operation%20Research.pdf

·        https://wdn2.ipublishcentral.com//himalaya_publishing_pvt/viewinsidehtml...

·        https://www.amirajcollege.in/wp content/uploads/2020/10/3151910 operations research theory and applications by j. k. sharma z lib.org_.pdf

JOURNALS:

·        Journal of Operations and Strategic Planning

·        Indian Journal of Finance

·        IUP Journal of Applied Finance

The Indian Journal of Commerce

Academic Year: 
2022-2023
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