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    OM310 Syllabus

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    alwafi
    This document provides the syllabus for a Quantitative Methods for Business course taught at King Fahd University of Petroleum and Minerals. The course introduces students to quantitative analysis approaches and mathematical optimization techniques used to address business problems. Topics covered include linear programming, transportation models, decision analysis, and project management. Students will learn to apply these quantitative methods and solve problems using software like Excel Solver. The course aims to help students use models to improve decision-making. Assessment includes exams, quizzes, homework, and class participation.

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    Download as DOC, PDF, TXT or read online from Scribd

    OM310 Syllabus

    Uploaded by

    alwafi
    64 views7 pages
    This document provides the syllabus for a Quantitative Methods for Business course taught at King Fahd University of Petroleum and Minerals. The course introduces students to quantitative analysis approaches and mathematical optimization techniques used to address business problems. Topics covered include linear programming, transportation models, decision analysis, and project management. Students will learn to apply these quantitative methods and solve problems using software like Excel Solver. The course aims to help students use models to improve decision-making. Assessment includes exams, quizzes, homework, and class participation.

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    This document provides the syllabus for a Quantitative Methods for Business course taught at King Fahd University of Petroleum and Minerals. The course introduces students to quantitative analysis approaches and mathematical optimization techniques used to address business problems. Topics covered include linear programming, transportation models, decision analysis, and project management. Students will learn to apply these quantitative methods and solve problems using software like Excel Solver. The course aims to help students use models to improve decision-making. Assessment includes exams, quizzes, homework, and class participation.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    64 views7 pages

    OM310 Syllabus

    Uploaded by

    alwafi
    This document provides the syllabus for a Quantitative Methods for Business course taught at King Fahd University of Petroleum and Minerals. The course introduces students to quantitative analysis approaches and mathematical optimization techniques used to address business problems. Topics covered include linear programming, transportation models, decision analysis, and project management. Students will learn to apply these quantitative methods and solve problems using software like Excel Solver. The course aims to help students use models to improve decision-making. Assessment includes exams, quizzes, homework, and class participation.

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    You are on page 1of 7

    King Fahd University of Petroleum and Minerals

    College of Industrial Management


    Dhahran, Saudi Arabia

    Department of Management, Marketing and Operations Management


    Operations Management Group

    Summer Semester 2007/2008 (073)

    Course Syllabus for Quantitative Methods for Business OM 310

    Class Hours: Sat.,Sun.,Mon.,Tues.,Wed., 14:10-15:10


    Class Location: 24-115
    Instructor : Dr. Jamal Ahmed Al-Zayer

    Mobile: 00966505805980

    e-mail: jamalaz@kfupm.edu.sa

    Instructor Course Website:

    Course Material Power Points, lectures will be available on the


    WebCT.

    Textbook:

    Introduction to Management Science Quantitative


    Approaches to Decision Making, by Anderson, Sweeney & Williams

    References:

    Quantitative Analysis for Management, by Render & Stair

    Decision Modeling with Microsoft Excel, by Moore &


    Weatherford

    Quantitative Methods for Business decisions


    2
    By Lawrence L. Lapan

    Practical Management Science, by Winston & Albright

    Quantitative Management, by Anderson & Lievano

    Course Description & Structure:

    This course is a study of Quantitative Methods and Business


    Analysis approaches in organization. The objective of the course
    is to familiarize the student with advanced quantitative
    approaches and mathematical optimization techniques used to
    address managerial and industrial problems. In the Quantitative
    Analysis class, we would like our students to understand and
    apply the basics of descriptive statistics and inferential
    statistics to improve or enhance the decisions they make in
    business.

    In addition the student will gain insight and an understanding


    of modeling and rational approaches to decision- making and
    their contribution to organizational effectiveness. Analysis and
    communication are emphasized through out the course by using
    real world and practical applications and cases.

    Topics in this course include linear programming and model


    building, network problems, model applications, decision
    analysis applied to tactical and strategic business decisions in
    functional areas and interfaces among these areas will be
    covered. Major emphasis will be placed on the conceptual
    understanding rather than memorization.

    Implementation using existing software packages of decision


    models to solve various managerial problems is an integrated
    part of this course.

    Course Description (Based on KFUPM University Bulletin):

    Introduction to managerial decision analysis using quantitative


    tools. Topics include a general framework for decision analysis,
    decision tables and trees, simulation, linear programming and
    related techniques, classical optimization, forecasting, and
    probabilistic and statistical techniques. Use applicable
    decision-support software. Emphasis is on applications of
    3
    quantitative tools rather than quantitative theory.

    Objectives

    This course provides an introduction to the concepts and methods


    of Decision Science, which involves the application of
    mathematical modeling and analysis to management problems. It
    also provides a foundation in modeling with spreadsheets. The
    primary goal of the course is to help you become a more skilled
    builder and consumer of models and model-based analyses.

    Another important goal is to encourage a more disciplined


    thinking process in the way you approach management situations.
    As a result of this course you will become more confident in
    understanding and using models, both in other courses and on the
    job.

    Topics will be Selected from the following list:

    ----------------------------------------------------------------
    Topics
    ----------------------------------------------------------------

    Week 1 Introduction
    Problem Solving and Decision Making
    Quantitative Analysis and Decision Making
    Management Science Techniques

    Week 1 Introduction: An Overview of Management Science and


    Quantitative Analysis: The Management Science
    Process

    Week 2 & 3 Linear Programming: Assumptions, Graphical


    Solution, Sensitivity Analysis, Computer Output

    Week 4 & 5 Linear Programming Applications: Selected


    Application may include:
    4
    • Make-or-Buy Problems
    • Marketing Applications
    • Production Management Applications
    • Production and Inventory Planning Problems
    • Financial Planning Problems
    • The Transportation Problem
    • Personnel Scheduling Problems
    • Data Envelopment Analysis

    Week 6 Transportation Model, Transshipment and Assignment


    Problems

    Week 7* Project Management

    Week 7* Network Optimization Models

    • The Transportation Problem


    • The Assignment Problem
    • The Traveling Salesman Problem
    • The Minimal Spanning Tree Problem
    • The Maximal Flow Problem

    Week 8 & 9 Fundamentals of Decision Theory and Analysis


    Week 10 & 11 Input- Output Analysis
    Week 12 & 13 Time Series Analysis and Forecasting

    (*) Optional either Network Models or Project Management


    Usually Project Management is covered in OM 210

    Other Topic:

    ** Game Theory
    ** Analytical Hierarchy Process
    ** Markov Analysis

    Course Grade Calculation:

    Mid-Term Exam 25%


    5
    Final Exam 30%
    Quizzes 15%
    Homework, Computer Assignments 20%
    Attendance & Participation & Quizzes 10%
    Total ..................................... 100%
    6

    COURSE OUTLINE

    Week Chapter Topic


    1 1.1 Introduction to Quantitative Analysis
    1.2 ** What is Quantitative Analysis?
    1.3 **The Quantitative Analysis Approach
    Defining the Problem
    Developing the Model
    Acquiring Input Data
    Developing a Solution
    Testing the Solution
    Analyzing the Results and Sensitivity
    Analysis
    Implementing the Results
    The Quantitative Analysis Approach and
    Modeling in the Real World
    1.4 How to Develop a Quantitative Analysis Model
    The Advantages of Mathematical Modeling
    Mathematical Models Categorized by Risk
    1.5 The Role of Computers and Spreadsheet Models
    in the Quantitative Analysis Approach
    1.6 Possible Problems in the Quantitative Analysis
    Approach
    1.7 Implementation- Not the Final result

    2 2.1 Linear Programming Models: Graphical &


    Computer Methods
    Introduction
    Requirements & Basic Assumptions
    Formulating an LP Problem
    2.2 Graphical Solution to LP
    Quiz # 1
    2 Solving an LP Problem Using QM
    3 3.1 Using Excel Solver to Solve LP Problem
    3.2 Solving Minimization Problem
    3 3.3 Sensitivity Analysis
    Quiz # 2
    LP Formulation
    4 4.1 Linear Programming Models Applications
    7
    With Excel Solver & QM
    4.1 Marketing Application
    Manufacturing Applications
    4.2 Financial Applications3
    7 7.1 Transportation Applications
    7.3 Transshipment Applications
    Quiz # 3
    14 14.1 Decision Analysis Introduction
    The Six Steps in Decision Analysis
    Types of Decision Making Environments
    Decision Making Under Un-Certainty
    Decision Making Under Risk
    3.6 Decision Trees
    3.7 Bayesian Analysis
    9 3.8 Utility Theory
    Appendix Decision Models with QM
    3.1
    Appendix Decision Trees with QM
    3.2
    Appendix Using Excel for Bayes’ Theorem
    3.3
    10 13.1 Project Management Introduction
    13.2 PERT
    13.3 PERT/COST
    Planning & Scheduling Project Costs
    13.4 Critical Path Method
    Project Crashing
    13.5 Other Topics in Project Management
    Appendix Project Management with QM
    13.1

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