Quantitative Methods

1. Apply quantitative methods to solve decision-making problems.
2. Construct and analyze decision trees.
3. Utilize linear programming techniques for optimization.
4. Apply game theory to analyze conflict situations.
5. Manage projects effectively using PERT and CPM.
6. Control inventory costs using EOQ models.
7. Apply sequencing techniques to optimize job processing.

13 weeks, about 39 hours in total. Yours will differ.

1. Week 1MODULE ONE

   • Unit 1: Elements of Decision Analysis · 3 hours

     Define decision analysis and its elements.. Identify the role of a decision-maker.. Understand the components of decision making: alternatives, states of nature, and criteria.. Analyze the structure of a decision problem..

2. Week 2MODULE ONE

   • Unit 2: Types of Decision Situations · 3 hours

     Identify and differentiate decision-making conditions: certainty, uncertainty, risk, and conflict.. Apply techniques for decision-making under uncertainty, such as Maximax, Maximin, and Hurwicz criteria.. Analyze decision problems using Laplace's criterion.. Solve problems involving decision-making under risk using EMV and EOL..

3. Week 3MODULE ONE

   • Unit 3: Decision Trees · 3 hours

     Describe decision trees and their components.. Represent decision problems in a decision tree format.. Perform backward pass analysis to calculate outcome values.. Identify the optimal decision strategy using forward pass analysis.. Understand and apply the secretary problem..

4. Week 4MODULE ONE

   • Unit 4: Operational Research Approach to Decision Analysis · 3 hours

     Identify qualitative and quantitative approaches to decision analysis.. Apply qualitative tools like the Delphi method and market research.. Utilize quantitative tools such as mathematics, probability, and mathematical models.. Apply decision-making criteria: Maximax, Maximin, Minimax Regret, Laplace, and Hurwicz.. Solve decision problems using EMV and EOL techniques..

5. Week 5MODULE TWO

   • Unit 5: Systems and System Analysis · 3 hours

     Define a system and its components.. Describe the systems theory and its relevance.. Identify and describe different types of systems: physical, abstract, open, and closed.. Understand and describe the forms of systems: conceptual, mechanical, social, deterministic, and probabilistic.. Discuss the concept of entropy in a system..

6. Week 6MODULE TWO

   • Unit 6: Modelling in Operations Research · 3 hours

     Define a model and describe the modeling process.. Classify models by degree of abstraction, function, structure, and nature of the environment.. Identify the characteristics of good models.. Outline the advantages and limitations of using models.. Describe the steps involved in constructing a model..

7. Week 7MODULE TWO

   • Unit 7: Simulation · 3 hours

     Define simulation and its purpose.. Identify when to use simulation techniques.. Outline the advantages and limitations of simulation.. Identify areas of application for simulation.. Understand and apply Monte Carlo simulation..

8. Week 8MODULE TWO

   • Unit 8: Cases for Operations Research Analysis · 3 hours

     Apply quantitative techniques to case studies.. Analyze case data using mathematical models.. Interpret results and provide recommendations based on case analysis.. Evaluate the effectiveness of different operational research approaches in real-world scenarios..

9. Week 9MODULE THREE

   • Unit 9: Mathematical Programming (Linear Programming) · 3 hours

     Explain the requirements and assumptions of linear programming problems.. Formulate linear programming models.. Solve linear programming problems using the graphical method.. Identify the advantages and limitations of linear programming..

10. Week 10MODULE THREE

    • Unit 10: Transportation Model · 3 hours

      Describe the nature of a transportation problem.. Compute initial feasible solutions using the North West Corner, Least Cost, and Vogel's Approximation Methods.. Improve initial solutions using the Stepping Stone and Modified Distribution Methods.. Handle unbalanced transportation problems..

11. Week 11MODULE THREE

    • Unit 11: Assignment Model · 3 hours

      Identify different types of assignment problems.. Compare assignment and transportation problems.. Solve assignment problems using the Hungarian method.. Address unbalanced assignment problems..

12. Week 12MODULE THREE

    • Unit 12: Conflict Analysis and Games Theory · 3 hours

      Define the concept of a game and its components.. State the assumptions of game theory.. Describe two-person zero-sum games.. Explain and identify pure strategies, dominating strategies and mixed strategies.. Determine optimal strategies in 2x2, 2xn, and mx2 matrix games..

13. Week 13MODULE FOUR

    • Unit 13: Project Management · 3 hours

      Define project management and its value.. Identify project management processes and knowledge areas.. Understand the differences between project and product life cycles.. Apply PERT and CPM techniques to project scheduling.. Calculate project completion time and identify the critical path..