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Revised OPERATIONS RESEARCH 2023

The document describes an Operations Research course covering topics like linear programming, transportation models, assignment models, decision theory, game theory, and project analysis. The course aims to help students analyze business problems and find optimal solutions under constraints using quantitative techniques.

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168 views4 pages

Revised OPERATIONS RESEARCH 2023

The document describes an Operations Research course covering topics like linear programming, transportation models, assignment models, decision theory, game theory, and project analysis. The course aims to help students analyze business problems and find optimal solutions under constraints using quantitative techniques.

Uploaded by

simranguptaa1200
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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OPERATIONS RESEARCH

Course No: M208


Course Name: Operations Research (OR)
Course Credit: 3
No. of Sessions - 24
Brief on the Course:
Operations research course helps in solving problems in different constrained environments
that needs decisions. The course aims at building capabilities in the students for analyzing
different situations in the industrial/ business scenario involving limited resources and finding
the optimal solution within constraints. The purpose of this course is to orient the students
with the different class of optimization problems and its solution techniques to make them
competent to take part in evident based decision making in the constrained environment
where it is appropriate for the Business Management Programme.
Course Objectives
The objectives of the course are
 To introduce the fundamental concepts of quantitative methods and techniques for
effective decisions–making, model formulation and applications that are used in
solving business decision problems.
 To describe the fundamental principles of Linear Programming Problem to solve
constrained optimization problems.
 To enable the students to formulate and solve the issues of Transportation and
Assignment Problems and make sure that solution is the optimal solution.
 To provide the mathematical models to solve the competitive real-world phenomena
using concepts from game theory and analyze pure and mixed strategy games. Case
studies / Practice Exercise will be integrated into most of the areas covered.
Course Outcomes
 Illustrate the different categories of optimization problems and their components.
 Demonstrate and Apply the knowledge of optimization approaches to formulate and
solve the business problem in the constrained environment.
 Apply the fundamental principles of Linear Programming Models, Transportation
Models and Assignment Models to build the model and solve using appropriate
techniques, interpret the results obtained and translate solutions into directives for
action.
 Analyze and evaluate the different decision alternatives under the competitive
decision-making environment using Game Theory approach.
 Apply the basic Project analysis techniques for making informed business decisions
and develop project planning and controlling strategies.
Course Structure
Module 1 (2 sessions)
Introduction to Operations research - An overview and scope of Operations Research,
Introduction to LPP, Formulation of LP Models, Graphical Solution of LPP, Special cases in
graphical solution of LPP.
Suggested Readings:
 Introduction to Operations Research - Course (nptel.ac.in)
 Chapter 1, 2 & 3: Operations Research: Sharma, J. K. (2005). Operation research-
theory and applications (4th Ed.). New Delhi: Macmillain India limited.

Module 2(5 Sessions)


Linear Programming Problem (LPP) - Basic assumptions of LPP, General, Canonical and
Standard form of LPP; Simplex Method and Two-phase Method for solving LPP; Duality
Theory, Sensitivity Analysis, Shadow Price and their economic interpretation, Use of MS
Excel and LINGO for solving LPP.
 lecture6.pdf (illinois.edu)
 Chapter 4, 5 & 6, Sharma, J. K. (2005). Operation research- theory and applications
(4th Ed.). New Delhi: Macmillain India limited.
McCarthy, F. D. (1981). Quality Effects in Consumer Behaviour. The Pakistan
Development Review, 20(2), 133–150. http://www.jstor.org/stable/41258562
Quality Effects in Consumer Behaviour on JSTOR

Module 3 (3 Sessions)
Transportation Models - Construction of Transportation Problem, NWC Method, Least
Cost Method, Vogel’s Approximation Method (VAM) for initial solution of TP, Test of
optimality with MODI method, Special cases in Transportation Problem.
 Chapter 9: Transportation Problem, Sharma, J. K. (2005). Operation research- theory
and applications (4th Ed.). New Delhi: Macmillain India limited.
 Case Study: A Case Study of Joint Online Truck Scheduling and Inventory
Management for ...: EBSCOhost
 Case Study: Optimizing Shipment Options : An Application of the Transport P...:
EBSCOhost
Module 4 (2 Sessions)
Assignment Models - Construction of Assignment Models, Hungarian Method for the
Assignment Model, Test of optimality, Travelling Salesman problem, Maximization
Assignment Model.
 Chapter 10: Assignment Problem, J. K. (2005). Operation research- theory and
applications (4th Ed.). New Delhi: Macmillain India limited.
 Case Study: Dynamic Container Deployment: Two-Stage Robust Model, Complexity,
and Compu...: EBSCOhost

Module 5 (4 Sessions)
Decision Theory- Quantitative approach to management decision making, Decision making
under Uncertainty - Maximin, Maximax, Hurwicz, Laplace and Minimax regret criteria,
Decision making under Risk-EMV, EOL, EVPI criteria, Decision Tree Analysis, Using Excel
to Solve Decision Theory Problems.
 Chapter 11: Decision Theory and Decision Trees, Sharma, J. K. (2005). Operation
research- theory and applications (4th Ed.). New Delhi: Macmillain India limited.
 Article: Rational Inattention as an Empirical Framework for Discrete Choice and
Cons...: EBSCOhost
Module 6 (4 Sessions)
Game Theory - Decision Making under conflict; Game Theory – Two Persons Zero Sum
Game, Pure and Mixed strategy Game, Rules of Dominance; Different methods for solving
the Two Persons Zero Sum Game.
 Chapter 12: Theory of Games: An Interactive Decision Approach, Sharma, J. K.
(2005). Operation research- theory and applications (4 th Ed.). New Delhi: Macmillain
India limited.

Module 7 (4 sessions)
Project / Network Analysis - CPM and PERT Network concepts, construction of AOA and
AON network diagram, Network calculations on CPM and PERT, calculation of float/slack
under PERT, Probability of Project Completion.
 Chapter 13: Project Management: PERT and CPM, Sharma, J. K. (2005). Operation
research- theory and applications (4th Ed.). New Delhi: Macmillain India limited.

Textbooks
 Vohra, N. D. (2006). Quantitative Techniques in Management (3rd Ed.). New Delhi:
Tata McGraw-Hill Education.
 Sharma, J. K. (2005). Operation research- theory and applications (4 th Ed.). New
Delhi: Macmillain India limited.
Reference Books
 Taha, H. A. (2008). Operations Research - An Introduction (8th Ed.). USA: Prentice
Hall/Pearson Education.
 Winston, W. L. (2003). Operations Research: Applications and Algorithms (4th ed.).
USA: Cengage Learning.
 Anderson, Sweeny, & Williams. (2012). Quantitative Methods for Business (12 ed.).
USA: South-Western College Publication.
 Kasana, H. S., & Kumar, K. D. (2008). Introductory Operations Research Theory and
Application. Heidelberg: Springer.
 Hillier, F. S., & Lieberman, G. J. (2005). Introduction to Operations Research (8th
ed.). USA: Tata McGraw Hill.
 Render, B., Stair, R. M., Hanna, M. E., & Stair, R. (2002). Quantitative Analysis for
Management (8th ed.). USA: Prentice Hall.
Weblinks/Web Resources: In the class session as and when required it will be provided.
Suggested Readings (If Any)
 Journal of Operation Research Society
 Omega: The International Journal of Management Science
 Opsearch
 European Journal of Operational Research
List of Cases
 Cutting Cafeteria Costs (Case study on LP model formulation)
 Brainy Business (Case study on new product launch based on decision theory)
 Pradhan Mantri Gram Sadak Yojana Rural Road Construction Project (Case
study on Project analysis)
 https://sk.sagepub.com/cases/antenna-case-study-scheduling-coordination-
challenge
(Citation:Brown, G., De Castro Ferreira, L. C., Leach, S. E., & Brussolo, M. E.,
(2023). The antenna case study: a scheduling and coordination challenge. In Sage
Business Cases. SAGE Publications, Ltd.,
https://doi.org/10.4135/9781529610802)


Assessment Tools

Component Components of Evaluation Expected slot Weightage


Evaluation 1 Assignment Session 12-14 20
Evaluation 2 Class Test Session 22-24 20
Evaluation 3 Attendance 10
Evaluation 4 Trimester end Exam Completion of Session 24 50

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