MQGE0001-6 : Operations Research

Study Programmes 2015-2016

MQGE0001-6

Operations Research

Duration :

45h Th

Number of credits :

Bachelor in business engineering		5
Bachelor in business engineering		5
Master in mathematics (120 ECTS)		6
Master in mathematics (120 ECTS)		6

Lecturer :

Yves Crama

Language(s) of instruction :

English language

Organisation and examination :

Teaching in the first semester, review in January

Units courses prerequisite and corequisite :

Prerequisite or corequisite units are presented within each program

Course contents :

Operations research relies on mathematical modeling to formulate and to analyze complex decision problems faced by individuals or organizations. OR models and techniques are found at the core of numerous IT tools used in everyday life and in managerial decision support systems, e.g., GPS-based routing systems, airline reservation and pricing software, production planning and scheduling systems, financial investment optimization systems, etc. In order to make a sensible use of OR tools, the manager needs to understand their full potential as well as their limitations. By getting the most out of these tools, companies may be able to develop innovative solutions and to improve their competitive position.
As such, the course directly relates to one of the main intended learning outcomes of the bachelor's programme in business engineering, namely, the ability to use analytical and IT tools in order to address management problems.
The course offers an introduction to some of the most successful models and techniques used in operations research:

linear programming: modeling, simplex method, sensitivity analysis, duality;
integer progamming: modeling, branch-and-bound algorithms;
queueing theory: basic features, arrival and service processes, M/M/c models;
simulation : basic principles, random generators, analysis of results;
network models; shortest paths, project scheduling.

As time allows, other models such as decision analysis and multicriteria decision-making may alos be covered.
The course is illustrated by numerous examples and applications from logistics, production management, finance, arising in various profit or non-profit service industries.

Learning outcomes of the course :

Intended Learning Outcomes addressed by the course:

Strengthening knowledge and understanding of basic management disciplines in order to use them to perform a rigorous analysis of a management situation and provide pertinent solutions
Understanding and being capable of using modeling methods when seeking a solution for a concrete management problem

More specifically:
C1. Acquire familiarity with the mathematical modeling approach to decision-making, and with fundamental models and methods used in operations research.
P2. Be able to reconstruct and to interpret the output of simple models.
P3. Be able to recognize situations where OR techniques can be successfully applied and to formulate simple models.
C4. Gain some understanding of the inherent limitations of the mathematical modeling approach.

Prerequisite knowledge and skills :

Mathematics (linear algebra, matrix algebra), probability theory and statistics (concept of random variable, classical distributions, expectation, variance, etc.).

Planned learning activities and teaching methods :

A1. Lectures.
A1. Readings (lecture notes and case studies).
A2. Numerical exercises. A2. Computer labs.
A3. Computer-based project: formulation and solution of a small case.

Mode of delivery (face-to-face ; distance-learning) :

Face-to-face lectures and practice sessions.