Units of Assessment

Weighting Towards Module Mark (%)

 

Examination

100%

Two hours closed book exam.

Methods and tools are used to tackle challenges occurring in the business and industrial environment. The obtained results are used for qualified decision making.

To solve Management problems analytically.

·                    To increase the efficiency and productivity of business firms

 ·                    To observe and define “challenges” in a concise, precise and logical manner

 ·                    To be familiar with a selected number of classical and state-of-the art Management Science methods and tools to solve management problems

 ·                    To create solution models, to develop and create procedures that offer competitive advantage to the business/organisation

 ·                    To communicate and provide results to the management for decision making and implementation

The module content will focus on a selected set of critical areas in Management. As an indication of the kind of issues that will be covered, please find below an indicative set of topics.

 ·                    Waiting Line Models (e.g. Multiple Server Waiting Line)

 ·                    Transportation and Network Models  (e.g. Shortest Route)

 ·                    Inventory Management (e.g. Economic Order Quantity model)

The teaching and learning strategy is designed to: cultivate an understanding of the main issues and challenges; provide a coherent conceptual framework; develop a critical awareness of the various approaches of operational research in business firms.

The teaching and learning methods include: a lecture every week as well as several student exercises. Web-based learning support and electronic resources will be provided.

Assessment Strategy:

  In order to achieve the threshold standard for the award of credits for this module, the student must meet the following criteria related to the learning outcomes:

 ·                    Appreciate the theories, conceptual frameworks and methodologies that underpin Operational Research.

 ·                    Demonstrate the ability to synthesise Management Science concepts within an analytical context.

 ·                    Demonstrate evidence of background reading and research of the academic and practitioner literature relevant to Management Science.

  Formative assessment will be provided throughout the course.

Essential Reading

 1.                  Garn, W., 2010. Issues in Operations Management.  Pearson Education.

 Selected chapters from ...

 2.                  Taylor III, B.W., 2010. Introduction to Management Science. 10^th Edition, Prentice Hall.

 Recommended Reading

 2.                  Heizer, J. And Render, B., 2010. Operations Management, 10^th Edition.  Prentice Hall.

 3.                  Taha, H. A., 2007.  Operations Research – An Introduction.  8^th Edition. Prentice Hall.

 Background Reading

 4.                  Ahuja, R.K., Magnanti, T.L., and Orlin, J.B., 1993. Network Flows . Prentice Hall.

 5.                  Hillier, S., and Lieberman, G., 2010. Introduction to Operations Research. 9^th Edition. McGraw Hill.

 6.                  Kleinrock, L., 1975. Queueing Systems, Volume I: Theory.  Wiley Interscience.

 7.                  Lawrence, J.A., and Pasternack, B.A., 2002. Applied Management Science. 2^nd Edition. John Wiley & Sons.

 8.                  Nemhauser, G.L., and Wolsey, L.A. , 1988.  Integer and Combinatorial Opimization. John Wiley & Sons.

 9.                  Russell, S., and Norvig, P., 2010. Artificial Intelligence – A Modern Approach. 3^rd Edition.  Prentice Hall.

Journals

 ·                     Interfaces (2*, ISSN 0926-2644, interfaces.journal.informs.org, Library)

 ·                     European Journal of Operational Research (3*, ISSN 0377-2217, www.elsevier.com/locate/ejor)

 ·                     Management Science (4*, ISSN 0025-1909, mansci.journal.informs.org)

 ·                     Operations Research (4*, ISSN 0030-364X, http://or.journal.informs.org/)