Topic outline
- General
General
Quantitative techniques for management are basically operations research techniques commonly used in order to arrive at more objective decisions. These techniques often require the qualification of elements, that is, the use of numbers, symbols and mathematical expressions. Operations research tools of linear programming, programme evaluation and review techniques, critical path method, simulation and others are surveyed from an applied rather than theoretical viewpoint, for use in the resolution of management problems associated with resource allocation, project monitoring, maximization of objective function or minimization of costs; sequencing, waiting line and inventory control.
Course content
Unit 1
· Role of quantitative methods in management
· Limitations of quantitative methods
Unit 2
· Decision analysis theory
· Decision – making process
· Conditions under which decisions are made
Unit 3
· Feature of an o/r programme
· Network analysis models
· Inventory models
Unit 4
· Linear programming models
· Queuing model
· Poisson models
Units 5
· Matrices
· Practical application of matrices
- LP, MATRICES, DECISION MAKING, QUEUING AND POISSON
read notes for the course
- Topic 1
- Topic 2
- Topic 3