...TIME: TH, 1800-1930/1940-2110 ROOM: L330 INSTRUCTOR: MR. ENRICO L. CORDOBA (lance_emeric@yahoo.com) COURSE DESCRIPTION: MANASCI (MANAGEMENT SCIENCE) is a 14-week course on the study of quantitative techniques in business decision-making. The course covers linear programming models and its special algorithms; network (PERT/CPM) models; decision-making theories and processes; and decision tree construction and analysis. LEARNING OUTCOMES (LO): On completion of the course, the student is expected to be able to do the following: |ELGA |LEARNING OUTCOME | |Effective communicators |To present in class the application of quantitative techniques to management decision | | |models through case analysis | |Critical and creative thinkers |To develop analytical thinking and proper reasoning in the application of quantitative | | |techniques to management decision models | | |To acquire the essential skills for the proper use of quantitative techniques in | | |business decision-making ...
Words: 1361 - Pages: 6
...1. Module Name: Introductory Econometrics Code: P12205 Credits: 10 Semester: Spring 2011/12 Delivery: 16 one-hour lectures + 4 one-hour workshops Aims: The main aims of this module are: to introduce students to the principles, uses and interpretation of regression analysis most commonly employed in applied economics; to provide participants with sufficient knowledge of regression methods to critically evaluate and interpret empirical research. On completion of this module students should be able to: demonstrate understanding of the assumptions and properties underlying regression analysis and the principle of ‘least squares’; interpret and manipulate the coefficients of multiple regression and performance criteria; conduct diagnostic checking of the validity of regression equations coefficients; appreciate the problems of misspecification, multicollinearity, heteroscedasticity and autocorrelation. Content: 1. Simple Regression Analysis 2. Multiple Regression Analysis 3. Dummy Variables 4. Heteroscedasticity 5. Autocorrelation Main Textbook: Dougherty, C. (2011). Introduction to Econometrics, 4th edition, Oxford. 2. Module Name: Computational Finance Code: P12614 Credits: 10 Semester: Spring 2011/12 Programme classes: 12 1-2 hour lectures/workshops Aims: The module aims to describe and analyse the general finance topics and introduces students to implement basic computational approaches to financial problems using Microsoft Excel. It stresses...
Words: 1425 - Pages: 6
...IMPORTANCE OF QUANTITATIVE TECHNIQUES IN MANAGERIAL DECISIONS *P.Murugesan Abstract The term ‘Quantitative techniques’ refers to the methods used to quantify the variables in any discipline. It means the application of subjects like mathematics and statistics, econometrics and operations research to understand and solve problems.. It is a study of the application of differential calculus, integral calculus and matrix algebra, measures of central tendencies, measures of averages, correlation and regression etc. It also includes the application of the techniques of management science such as Linear programming, Game theory, CPM and PERT analyses to business problems. The relevance and usefulness of Quantitative Techniques in seven functional areas of Management are discussed in this paper. Introduction: Truly, the importance of Quantitative proficiency cannot be over emphasized to Management Professionals! This body of knowledge involving quantitative approaches has been given various names likeBusiness Mathematics, Business Statistics, Operations Research, Decision Science and Management Science. All are concerned with rational approaches to decision making based on the scientific method. For example, consider the following simple mathematical problem: A) “A Mayor of a town wants to improve the bus services between 2 destinations falling within his district. The destinations are 1 hour journey apart and he wants the bus services in such a way that a traveler need not wait for more...
Words: 1980 - Pages: 8
...Functional Areas | OPERATIONS MANAGEMENT | Core ☐ Elective x☐x | Title | Quantitative Methods II | Abbreviation | QM-II | Course Coordinator | Prof. RAVI SHANKAR | Teaching Members | | Course Revision Record Version | Version Date | Recommendation | 1 | 05 Sept 2015 | | Credits | 3 | Contact Hours | 30 | Learning Hours | 60 | Office Hours | 30 | Contact Details | 09811033937 | Course eMail | r.s.reaches@gmail.com | Course Descriptor Course Overview(200 words) | Quantitative Methods-II, focuses on ‘Operations Research’ tools which helps in solving problems in different functional domain of business. It also helps to optimize business operations/processes. The Quantitative Method-II tools act as aids to decision makers to take best decision for effective & efficient use of resources which ultimately lead to profit maximization or to achieve multiple goals or objective. | Course must be aligned with a strategic objective of the program Prerequisites/Co-requisites | Quantitative Methods I | Learning Objectives | To learn basic optimization techniques and their managerial applications with a focus on methodologies such as Linear Programming, Transportation models, Assignment Models, Transhipment Models, Games Theory, Queuing Models, Goal Programming, Integer Programming, Non-linear Programming, Simulation and Decision Theory. | Learning objectives must be aligned with learning outcomes of the course Teaching Methods | Modeling, Case study...
Words: 1342 - Pages: 6
...www.VLCglobal.com/support VLC Course Descriptions Quantitative Analysis for Decision Making Quantitative Analysis for Decision Making An Immersive Virtual Reality Learning Experience 2011-2012 Course Description This course provides the student with the concepts, methods and tools for the application of logical and quantitative analysis to business decision making and problem solving. It familiarizes the student with a wide range of software and other classical and contemporary resources related to decision and problem analysis, including basics of logic and decision making, principles of optimization, probabilistic distributions, linear programming, simplex, queuing and transportation problems, break even analysis, inventory management, forecasting and simulation. The course highlights the benefits as well as the limits of quantitative analysis in a real-world context. This course may be adapted for the graduate and undergraduate levels. Materials Readings, assignments, problems and assessments are integrated into the courseware. Any additional materials will be assigned by the instructor at the start or during the course. Course Outline & Assignments Assignments will change from time to time as new resources become available, contemporary events have bearing on the topics, or the social, legal, or economic environments change. FUNDAMENTALS OF DECISION MAKING AND PROBLEM SOLVING (Module One, 4-6 hours) • • • • • • • • • • • • • • ...
Words: 1075 - Pages: 5
...ABSTRACT Real-time quantitative PCR represents a highly sensitive and powerful technique for the quantitation of nucleic acids. It has a tremendous potential for the high-throughput analysis of gene expression in research and routine diagnostics. However, the major hurdle is not the practical performance of the experiments themselves but rather the efficient evaluation and the mathematical and statistical analysis of the enormous amount of data gained by this technology, as these functions are not included in the software provided by the manufacturers of the detection systems. In this work, we focus on the mathematical evaluation and analysis of the data generated by real-time quantitative PCR, the calculation of the final results, the propagation of experimental variation of the measured values to the final results, and the statistical analysis. We developed a Microsoft® Excel®-based software application coded in Visual Basic for Applications, called Q-Gene, which addresses these points. Q-Gene manages and expedites the planning, performance, and evaluation of real-time quantitative PCR experiments, as well as the mathematical and statistical analysis, storage, and graphical presentation of the data. The Q-Gene software application is a tool to cope with complex realtime quantitative PCR experiments at a high-throughput scale and considerably expedites and rationalizes the experimental setup, data analysis, and data management while ensuring highest...
Words: 671 - Pages: 3
...& Guihua Yang Key Lab for Paper Science and Technology of Ministry of Education Shandong Institute of Light Industry Shandong 250353, China Abstract Manufacturing execution system (MES) is a production management technology and real-time information system which lies between the enterprise upper layer (ERP) and the bottom layer (PLC/DCS) and faces to workshop layer. MES's concept, its functional model and its important status in the manufacture industry are introduced in this article. Based on the production practice in Kunshan Banknote Paper Mill, an evaluation model of EMS is set up. The model also has a certain reference value to the construction of management information system (MIS) for the relative industries. Keywords: Pulp and paper industry, Manufacturing execution system, Furzzy evaluating method 1. Introduction The construction of informationization has made considerable progress with years of development in domestic paper industry. Large and medium-sized paper-making enterprises has widely adopted Enterprise Resource Planning (ERP) for enterprise production planning management and Process Control System (PCS) for control of paper production process. However, it lacks effective unity and communication of model and information between the production planning management of upper layer and the process control of bottom layer, which cause unsuccessful performance of specific business functions in the control layer in time, bad visibility of production...
Words: 3133 - Pages: 13
...between qualitative and quantitative research methods Source: SEEP-AIMS 2000 Learning from Clients: Assessment Tools for microfinance practitioners. Washington, DC: AIMS/Management Systems International () Quantitative and Qualitative Methods As outlined in the previous chapter, the AIMS/SEEP approach to impact assessment by and for practitioners combines quantitative and qualitative techniques. The Impact Survey and Client Exit Survey are categorized as quantitative tools because they collect standardized information by asking exactly the same questions to clients and organizing their answers into quantifiable response categories. The individual Loan Use Strategies Over Time and Client Empowerment interviews and the Client Satisfaction focus group discussions are qualitative instruments that gather more detailed information through a more flexible, in-depth dialogue with clients. AIMS believes that these two categories of tools are complementary, each providing different types of information that enable evaluators to gain a more complete, richer picture of impact than would be possible with only one. This chapter's overview to quantitative and qualitative approaches presents the differences between the two techniques and provides general guidelines for their application. The interviewers' roles and responsibilities for both quantitative and qualitative techniques outlined here apply to all the corresponding tools presented in this manual. Quantitative? Qualitative? What Is...
Words: 1670 - Pages: 7
...Operations Management: From Selective Optimization To System Optimization Jack A. Fuller, (E-mail: jfuller@wvu.edu), West Virginia University C. Lee Martinec, West Virginia University ABSTRACT The focus of this research paper is to discuss the development of Operations Management (OM) and Operations Research (OR) with respect to their use within the organization’s decision-making structure. In addition, the difference in the tools and techniques of the two fields is addressed. The question is raised as to how distinct the two academic fields have become in light of the application of their models to the service industry. Suggestions are made regarding the possibility of incorporating OM/OR models and their output into the decision making structure of the organization towards the goal of “system optimization”. ORIGINS OF OPERATIONS MANAGEMENT AND OPERATIONS RESEARCH A comparison of the origins of operations management and operations research reveals that both are an innovation of the 20th century. The origin of operations research was in England, circa 1937, and has its roots in scientific management, with its first significant applications to military operations in both World War I and World War II. Operations management had its origins in the early factory system, and was more associated with physical production in a factory environment and it too was strongly influenced by the scientific method. (Chase, Aquilano and Jacobs, 2001). Operations management however, by...
Words: 2973 - Pages: 12
...PJM505 - Quantitative Methods in PJM Technical write up on Software tools available for project management to help managers to use quantitative analysis Project Management: A project is temporary in that it has a defined beginning and end in time, and therefore defined scope and resources. And a project is unique in that it is not a routine operation, but a specific set of operations designed to accomplish a singular goal. So a project team often includes people who don’t usually work together – sometimes from different organizations and across multiple geographies. The development of software for an improved business process, the construction of a building or bridge, the relief effort after a natural disaster, the expansion of sales into a new geographic market — all are projects. And all must be expertly managed to deliver the on-time, on-budget results, learning and integration that organizations need. Project management, then, is the application of knowledge, skills and techniques to execute projects effectively and efficiently. It’s a strategic competency for organizations, enabling them to tie project results to business goals — and thus, better compete in their markets. Microsoft Project has a qualitative risk analysis methodology capability But what about quantitative cost and schedule risk analysis? Quantitative risk analysis gives the project manager the ability to see how a project schedule will be affected if...
Words: 2624 - Pages: 11
...Fulfillment of the Requirements for the Degree of DOCTOR OF XXXXXXXXX by NAME Prescott Valley, Arizona Month Year Table of Contents Concept Paper 1 Introduction 3 Statement of the Problem 4 Purpose of the Study 4 Research Questions 4 .Hypotheses 5 Brief Review of the Literature 5 Research Method 6 Data collection 7 The Sponsor Pay Case Study. 9 Measurements and Results 11 Web 2.0 tools in the SponsorPay 11 The impact of Business Capabilities on Performance 12 Conclusions and Further Research 12 Introduction The social media has gained popularity in the recent past and has been used in many companies in their daily activities, ranging from small start-ups to large and medium enterprises (Bell & Loane 2010). Despite the use of this trend on the social media, little has been known on the specific impact on the companies and the business processes performance (Bell & Loane 2010). The purpose of this paper is to list the benefits of social media and its negative impact on the business performance (Bradbury, 2010). The business impact of the social media on management (Bradbury, 2010) on the knowledge management (Barney, 1991) on governance (Brocke & Rosemann, 2010) and on the strategic competitiveness of the companies (Bughin, 2011). This paper concentrates on exploring the social media’s impact and how the organization can advantage of this emerging technology in improving company competitiveness and business performance...
Words: 3391 - Pages: 14
...School The University of Adelaide University of South Australia Open Universities (conferred by Uni of SA) TASMANIA University of Tasmania VICTORIA Australian Catholic University Cambridge International College Carrick Higher Education Deakin University Holmes Institute Holmesglen Institute of TAFE La Trobe University Melbourne Institute of Technology Monash University Northern Melbourne Institute of TAFE RMIT University Swinburne University of Technology The University of Ballarat The University of Melbourne Victoria University WESTERN AUSTRALIA Curtin University of Technology Edith Cowan University Murdoch University The University of Notre Dame Australia University of Western Australia SINGAPORE Nanyang Technological University Singapore Management University Page 3 3 3 3 3 4 4 4 4 4 5 5 5 6 6 6 7...
Words: 16200 - Pages: 65
...Decision Science for Business Number of: Credit Hours 3 Lecture Hours 3 Lab Hours 0 Catalog Description: Examination of quantitative skills useful to managers. Discussions focus on selected algebra topics, mathematics for finance and descriptive statistics and probability. Prerequisite: Knowledge of college algebra, Excel, or other computer spreadsheet applications is important. Prerequisite(s) / Corequisite(s): Knowledge of college algebra, Excel, or other computer spreadsheet applications is important. Text(s): Most current editions of the following: Spreadsheet Modeling & Decision Analysis By Cliff T. Ragsdale, Ed. (Thomson Southwestern) Recommended Course Objectives To understand a variety of quantitative methods. To emphasize presentations, peer review and application of quantitative methods. Measurable Learning Outcomes: Use linear programming for optimization and modeling business applications. Apply the concept of sensitivity analysis. Apply regression analysis for problem solving in business applications. Explain queuing theory. Evaluate risk assessment and project management. Topical Outline: • Optimization linear programming • Modeling LP problems • Sensitivity analysis • Network modeling • Regression analysis • Integer linear programming • Project management Culminating Experience Statement: Material from this course may be tested on the Major Field Test (MFT) administered during the...
Words: 401 - Pages: 2
...Information Technology risk management currently plays more and more important role in almost all aspects of contemporary organizations functionality. It requires reliable and cyclical realization of its key task which is risk analysis. The field of risk assessment and risk management is becoming increasingly more complex as we go through Operations, Audit, Compliance, Budgeting and the many other facets of business. Quantitative and qualitative methods are two fundamental groups of methods are applied for analysis of risk on which assets are exposed in organizations. Quantitative method identifies the risks and quantifies them based on a numeric scale, e.g., 0.0 to 1.0 or 1 to 10; and qualitative, which is based on gaining a general impression about the risks so as to qualify them. The process uses subjective terms like "low to medium," "high or poor" "good to excellent," instead of numeric values. Following are the most important advantages and disadvantages of the qualitative and qualitative methods of IT risk analysis. Advantages Quantitative methods: They allow for definition of consequences of incidents occurrence in quantitative way, what facilitates realization of costs and benefits analysis during selection of protections. They give more accurate image of risk. Qualitative methods: It allows for putting in order risks according to priority. It allows for determination of areas of greater risk in a short time and without bigger expenditures. Analysis is relatively...
Words: 661 - Pages: 3
...1. 2. 3. 4. 5. 6. 7. 8. List of Subjects Principles of Management Managerial Economics Financial Accounting Environment Management Quantitative Techniques Business Legislation Communication Skills- I Computers for Managers ITM UNIVERSITY, RAIPUR Master of Business Administration Subject: Principles of Management Semester-I Unit I Introduction - Nature, function, definition and importance of management, Definition, nature, purpose and scope of management, Functions of a manager, an overview of planning, organizing, staffing leading and controlling. Is management a science or art? Unit II Development of Management Thought - Scientific management; Contribution of Taylor, Fayol, Mary Follet, Elton Mayo; Hawthorne experiments, Contingency approach, Indian heritage in production and consumption. Management and administration, Management as a profession, Professionalism of management in India, Management ethics and management culture, Skills required of manager, Classification of skills, Methods of skills development. Unit III Management Planning - Concept of planning, objectives, Nature, Types of plan, Stages involved in planning, Characteristics of a good plan, Importance, Limitations of planning, Making planning effective, Strategic planning in Indian Industry, MBO. Decision Making - Concept, characteristics of decisions, Types of decisions, Steps Involved in decision making, Importance of decision making, Methods of decision making, Committee Decision Making. Unit IV Organisation...
Words: 3209 - Pages: 13
