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
|
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
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
PERT/CPM: Network with one estimate of time, Networks with three estimates of time, Time cost trade off, Probability consideration under PERT.
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. |
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.
SUGGESTED READINGS:
e RESOURCES:
· https://www.bbau.ac.in/dept/UIET/EME 601%20Operation%20Research.pdf
· https://wdn2.ipublishcentral.com//himalaya_publishing_pvt/viewinsidehtml...
JOURNALS:
· Journal of Operations and Strategic Planning
· Indian Journal of Finance
· IUP Journal of Applied Finance
The Indian Journal of Commerce