Further Operational Research Techniques in Decision Making

This course is related to the "Operational Research" course offered in the 5th semester. Its aim is to present additional OR techniques, beyond Linear Programming, for making decisions in complex business environments. In addition, the course aims to demonstrate that these techniques are related to each other and constitute an integrated methodology for addressing realistic problem situations.

Objectives

At the end of this course the student should be able to: 1. Formulate and solve by hand simple network analysis problems. 2. Understand the basic concepts of multicriteria analysis. 3. Understand the concepts of queuing theory. 4. Solve simple deterministic and stochastic dynamic programming problems.

Prerequisites

There are no prerequisite courses. It is, however, recommended that students have at least a basic knowledge of Differential and Integral Calculus, Statistics, as well as Linear Programming.

Syllabus

1. Network analysis (shortest path, maximum flow, min cost flow) 2. Queuing Theory 3. Multicriteria Analysis 4. Dynamic Programming