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604 Operation Research

This document provides information on the Operations Research course offered at the university. The 604 course is worth 4 credits and includes 4 hours of lectures and 2 hours of tutorials each week. It introduces students to quantitative methods and techniques for effective decision making, including modeling and applications used to solve business problems. Topics covered include linear programming, transportation and assignment models, network analysis using CPM/PERT, decision theory, decision trees, and queuing theory. The course aims to help students solve problems in different environments that require data-driven decisions.

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111 views2 pages

604 Operation Research

This document provides information on the Operations Research course offered at the university. The 604 course is worth 4 credits and includes 4 hours of lectures and 2 hours of tutorials each week. It introduces students to quantitative methods and techniques for effective decision making, including modeling and applications used to solve business problems. Topics covered include linear programming, transportation and assignment models, network analysis using CPM/PERT, decision theory, decision trees, and queuing theory. The course aims to help students solve problems in different environments that require data-driven decisions.

Uploaded by

courtobservance2024batch
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© © All Rights Reserved
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SEMESTER VI

604: Operation Research

(4 Credits, 4L + 2T)

Course Description: Operations research helps in solving problems in


Different environments that needs decisions. The module converts topics that include: linear
programming, Transportation, Assignment, and CPM/ PERT techniques. Analytic techniques
and computer packages will be used to solve problems facing business managers in decision
environments.

Course Objectives: This module aims to introduce students to use quantitive methods and
techniques for effective decisions–making; model formulation and applications that are used in
solving business decision problems.

Pre-requisites:
Mathematics and Statistics up to XII std.

Reference Books:

1. Operations Research Techniques for Management 7th Edition, Kapoor V.K., Sultan
Chand & Sons
2. Operations Research 9th Edition, Kantiswarup, Gupta P.K. & Sultan Chand & Sons
Manmohan
3. Operations Research J.K. Sharma
4. Operations Research Annand Sharma
5. Quantitative Techniques in Management 3rd Edition , Vora N.D., Tata McGraw Hill co.

Syllabus:

Unit I: Introduction to Operation Research

Operation Research – Introduction, Models, Scope and limitations, Application in real


life situation

Unit II: Linear Programming Problem:

Linear Programming (L.P.): Mathematical Formulation of L.P. problem, Applications in


real life situation ,Graphical Method. Simplex Method – Concept of slack, surplus &
artificial variables. Manual solutions of L.P.P. upto 3 iterations. Minimization &
Maximization Problems.
 Special Cases – (i) Alternative optima (ii) Unbounded solutions & (iii) Infeasible
solutions to be shown graphically & also by simplex method.

Unit III : Transportation Models

Introduction: Definition of the transportation model Applications in real life situation .


Balanced Minimization / Maximization. Determination of the initial basic feasible
solution using (i) North-West Corner Rule (ii) Least cost method & (iii) Vogel’s
approximation method for balance transportation problems. Optimality Test & obtaining
of optimal solution.

Unit IV: Assignment Models

Introduction: Applications in real life situation ,Assignment Problem – Hungarian


method.

Unit V : Network Analysis

Construction of Network – Rules & Precautions. Applications in real life situation,


C.P.M. & P.E.R.T. Networks. Obtaining of Critical Path. Time estimates for activities.
Probability of completion of project. Determination of floats (total, free, independent &
interfering) Crashing of Simple Networks.

Unit VI : Decision Theory And Decision Tree

Decision Environments – risk & uncertainty, Payoff table, Regret table,Decision making
under uncertainty, Maximin & Maximax criteria,Minimax Regret criterion,Laplace
criterion,Hurwicz criterion,Expected Monetary Value criterion,Expected Value of Perfect
Information (E.V.P. I.),Expected Opportunity Loss (E.O.L.),Decision Tree, Simple
examples

Unit VII : Queuing Theory

Characteristics of M/M/I Queue model; Application of Poisson and Exponential distribution in


estimating. Arrival Rate and Service Rate; Applications of Queue model for better service to the
customers

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