Models and Tools for Management Decisions

Code:

1EC515

Acronym:

MTMD

Keywords
Classification	Keyword
OFICIAL	Management Studies

Instance: 2015/2016 - 1S

Active?	Yes
Responsible unit:	Operations and Logistics
Course/CS Responsible:	Bachelor in Economics

Cycles of Study/Courses

Acronym	No. of Students	Study Plan	Curricular Years	Credits UCN	Credits ECTS	Contact hours	Total Time
LECO	0	Bologna Syllabus since 2012	3	-	3	42	81

Teaching language

English

Objectives

1. To present the method used by Management Science and Operational Research to solve management problems.
2. To present the main techniques used by Management Science and Operational Research to solve decision problems in managerial settings.
3. To use software to solve problems.

Learning outcomes and competences

It is intended that students acquire the ability to identify situations where Management Science Models can be used to help make better decisions.
 

Working method

Presencial

Pre-requirements (prior knowledge) and co-requirements (common knowledge)

Basic knowledge of algebra and statistics, namely probability distributions.

Program

1. Introduction to Managemento Science

2. Decision analysis
2.1. Decision-making under uncertainty
2.2. Decision-making under risk

3. Linear Optimization
3.1. Model building
3.2. Solution of the model
3.3. Solution analysis

4. Linear Integer Optimization

5. Stochastic Processes
5.1. Discrete-time Markov Chains
5.2. Continuous-time Markov Chains

6. Queueing
6.1. Introduction to queueing systems
6.2. Birth-death queueing models

Mandatory literature

Hillier, F. S., Lieberman, G. J.; Introduction to Operations Research, McGraw-Hill, 2009
Jensen, P. A., Bard, J. F; Operations Research Models and Methods, Wiley, 2003

Teaching methods and learning activities

Classes are used to present the subjects of the syllabus and to solve some problems, using appropriate software.

Software

Microsoft Excel

Evaluation Type

Distributed evaluation without final exam

Assessment Components

Designation	Weight (%)
Teste	75,00
Trabalho escrito	25,00
Total:	100,00

Amount of time allocated to each course unit

Designation	Time (hours)
Estudo autónomo	39,00
Frequência das aulas	42,00
Total:	81,00

Eligibility for exams

Student participation is valued.

Calculation formula of final grade

Distributed assessment is comprised of 1 group project and 3 partial tests, each with a weight of 25% of the final mark.

Examinations or Special Assignments

Nothing to mention.

Internship work/project

Nothing to mention.

Special assessment (TE, DA, ...)

Nothing to mention.

Classification improvement

Students that pass with distributed assessment may improve the final mark by taking a final exam.