Acquaint the students with the use of operational research & quantitative techniques in decision-making.
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Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Course Code |
Course Title |
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25ATG323 |
Quantitative Techniques for Decision Making (Theory) |
CO73: Gain knowledge regarding the characteristics of different types of decision-making environments and mathematical tools that are needed to solve optimization problems. CO74: Develop and solve Transportation Models and Assignment Models. CO75: Construct the best strategy using game theory and replacement theory. CO76: Acquire knowledge regarding deterministic models of stock and statistical quality control charts. CO77: Design models, like CPM and PERT to improve decision –making. CO78: Contribute effectively in course – specific interaction. |
Approach in Teaching: Interactive Lectures, Discussion, Tutorials, Problem Solving Sessions & Presentations
Learning activities for the students: Self-learning assignments, Case Study Analysis, Class Presentations (Individual & Group)
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Continuous Assessment Test, Semester End Examinations, Quiz, Solving Numerical Problems, Assignments, Individual & Group Projects |
● Operations Research: Assumptions, advantages and disadvantages
● Linear Programming: Meaning, assumptions, features, methods: Graphic method and Simplex method, concept of duality, multiple solutions.
● Dynamic Programming: Meaning, features, models
● General Sequencing Problems and Goal programming problems
● Transportation: Methods, Degeneracy, special cases: Balance problems, unbalanced problems, prohibited problems, preferred problems.
● Assignment: Methods, multiple optimum solutions, special cases: Balance problems, unbalanced problems, prohibited problems, preferred problems.
● Game Theory: Games of Pure strategy, Games of Mixed strategy, Law of Dominance, Sub Game method, graphical method
● Replacement Theory: Meaning, features, advantages, disadvantages, applicationareas, methods of replacement of an assets
● Deterministic Models of Stock: Meaning, features, advantages and disadvantages, role of inventory model, methods, practical approaches of inventory models.
● Statistical Quality control: Meaning, Features, Roles, Various charts and their functionality
● Network Analysis (PERT/CPM): Introduction, Basic Concept, Drawing a network diagram, Concept of Critical Path, Probability Consideration under Pert, Crashing a Network and determining project cost trade off, scheduling a network with various constraints like manpower equipment etc.
1. Operational Research-Prof N.P.Agarwal (Ramesh Book Depot)
2. Quantitative Methods- N.K Nag (Kalyani Publishers)
3. Operational Research-Mathur, KhandelwalGupta,Gupta (Ajmera Book Company)
Suggested Readings:
1. Operational Research-V.K Kapoor (Sultan Chand)
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
e-Resources:
1. https://www.bbau.ac.in/dept/UIET/EME-601%20Operation%20Research.pdf [2]
2. https://wdn2.ipublishcentral.com//himalaya_publishing_pvt/viewinsidehtml... [3]
3. https://www.amirajcollege.in/wp-content/uploads/2020/10/3151910-operatio... [4]
Links:
[1] https://accountingtaxation.iisuniv.ac.in/courses/subjects/quantitative-techniques-decision-making-1
[2] https://www.bbau.ac.in/dept/UIET/EME-601%20Operation%20Research.pdf
[3] https://wdn2.ipublishcentral.com//himalaya_publishing_pvt/viewinsidehtml/501555551489264
[4] https://www.amirajcollege.in/wp-content/uploads/2020/10/3151910-operations-research-theory-and-applications-by-j.-k.-sharma-z-lib.org_.pdf
[5] https://accountingtaxation.iisuniv.ac.in/academic-year/2025-2026