620-361 Operations Research: Techniques

620-261. Also recommended is one of 620-231, 620-233, 620-262.

This subject develops problem-solving skills and sharpens analytical skills. Students will work in groups, tackling unfamiliar problems. Each team will plan their project work and deliver oral and written presentations.

This subject introduces a number of basic techniques of operations research, selecting topics from nonlinear and parametric optimisation, and decision-tree, network and inventory models. It develops the formulation of operations research models and algorithms with application in production planning, scheduling, inventory management and capital budgeting. Students should develop skills in setting up and analysing operations research models for a number of planning problems; and competence in the use of computer packages for the solution of operations research problems. This subject demonstrates the factors and restrictions involved in building and using models for planning and management problems.

Topics are selected from operations research models; formulation of planning and management problems, including linear programming models, scheduling models, inventory management and capital budgeting; and linear and nonlinear techniques, decision tree models, parametric optimisation and simulation. Use of computer packages and internet resources is examined. Case studies and projects are undertaken.

Up to 24 pages of written assignments due during the semester (10%); a group project involving a written report of up to 15 pages due during the semester (15%) and a 20-minute oral presentation during the semester (10%); a 3-hour written examination in the examination period (65%).