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Lecture - Plan - Decision Modelling

This document outlines the structure of a course on decision modeling, including its objectives, learning outcomes, topics covered in each unit, textbooks, and evaluation criteria. The course covers quantitative models and techniques for decision making including linear programming, transportation problems, assignment problems, queuing theory, simulation, game theory, and multi-criteria decision making.

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21 views

Lecture - Plan - Decision Modelling

This document outlines the structure of a course on decision modeling, including its objectives, learning outcomes, topics covered in each unit, textbooks, and evaluation criteria. The course covers quantitative models and techniques for decision making including linear programming, transportation problems, assignment problems, queuing theory, simulation, game theory, and multi-criteria decision making.

Uploaded by

ximepoc266
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Indian Institute of Technology (Indian School of Mines), Dhanbad – 826004

Decision Modeling -Course Structure (2022-2023 Monsoon Semester)

Course Type Course Code Name of Course L T P Credit


Core MSC 507 Decision Modelling 3 0 0 9

Course Objective
This course shall expose the candidates to various quantitative models for decision making that
aim at finding optimum or close to optimum results. Major emphasis shall be on problem
formulation and selection of appropriate software packages for solution and interpretation of
results.

Learning Outcomes
Upon successful completion of this course, students will:
• Understand how to formulate a mathematical model for a business or an industrial
engineering problem.
• Get familiar with the various types of Operations Research Tools and techniques and their
solution procedure.
• Get familiar with the some application software like MS Solver, for solving OR problems.

Unit Lecture
Topics to be Covered Learning Outcome
No. Hours
1 Linear Programming: 8 Understand the
Linear programming – Examples from industrial fundamental concept of
cases, formulation & definitions. Graphical Method decision problems,
and Simplex Algorithm – slack, surplus & artificial mathematical
variables, computational details, big-M method, formulation of a decision
identification and resolution of special cases problem and its solution
through simplex iterations. procedure

2 Transportation problems: 4 Understand the concept


TP - Examples, Definitions – decision variables, of Transportation
supply & demand constraints, formulation, Balanced models and its
& unbalanced situations, Solution methods – NWCR, applications
minimum cost & VAM, test for optimality (MODI
method), degeneracy & its resolution

3 Assignment problems: 4 Understand the concept


AP - Examples, Definitions – decision variables, of assignment problems
constraints, formulation, Balanced & unbalanced and its applications
situations, Solution method – Hungarian, degeneracy
& its resolution

4 Queuing Theory: 5 Understand the concept


Definitions – queue (waiting line), waiting costs, of waiting line models
characteristics (arrival, queue, service discipline) of and its applications
queuing system, queue types (channel vs. phase),
Kendall’s notation, Little’s law, steady state
behaviour, Poisson’s Process & queue, Models with
examples – single and parallel server and its
performance measures

5 Simulation Methodology: 5 To get familiar with the


Definition and steps of simulation; random number simulation methods for
generator; Discrete Event System Simulation; Monte problem solving
Carlo simulation; Application in Scheduling, Queuing
systems, Inventory systems

6 Game Theory: 4 To get familiar with the


Game theory to determine strategic behavior, concept of game theory
Elements of cooperative and non-cooperative
games, Two-person zero-sum game

7 Decision Theory: 4 To get familiar with the


Decision Making under risk and uncertainty, Pay-off concept of decision
matrix, Opportunity Cost Matrix; Decision trees theory

8 Multi Criteria Decision Making: 5 To get familiar with the


AHP and Goal Programming techniques to solve
multiple objective
decision problems

TOTAL 39

Text Books:
1. Operations Research: An Introduction- H.A. Taha, Macmillan, N.Y.
2. Principles of OR with Application to Managerial Decisions: H.M.Wagner, Prentice Hall.

Reference Books:
1. Introduction to Operations Research: F.S. Hiller and G.J. Lieberman, Addison Wesley.
2. Operations Research and Management Science, Hand Book: Edited By A. Ravi
Ravindran, CRC Press, Taylor & Francis Group.

Evaluation criteria:
Mode of Examinations: Closed Book

Marks Breakup: Mid Sem 28%, End Sem 42 %, Quizzes 15%, Assignments 15%

Tentative Dates of Examination:


1. Quiz 1: 7 September (3-3:50 PM) (Tentative)
2. Quiz 2: 26 Oct (3-3:50 PM) (Tentative)
3. Mid Sem: As per the academic calendar 2022-2023
4. End Sem: As per the academic calendar 2022-2023
5. Assignments: Weekly submission on Fridays

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