UMass Isenberg SOM
FOMGT 353 ~ Spring 2002
Introduction to Management Science
Instructor: Andrew Hall
e-mail: adhall@som.umass.edu
Phone: 584 7367 – Emergencies only, please, as e-mail is a much better way to get hold of me!!
Class Time: 
TU/TH 1:00-2:15
Office Hours: 
To be agreed!

Syllabus.pdf (as at Feb 15th 2002)

Handouts Page

 

COURSE DESCRIPTION


This Introduction to Management Science focuses on the diagnosis of problems, the representation of problems in models, mathematical or algorithmic problem solving and decision making. It introduces linear programming, integer programming, network models, project management methods (PERT/CPM), decision theory and queuing theory.  It also introduces students to the use of computers to solve/optimize the models and interprets the computer solutions derived for the different problems presented.

COURSE OBJECTIVES
 

1.    To apply modeling/math/quantitative skills to business problems. 

2.    To broaden students' knowledge of management science.

3.    To enhance problem finding and problem solving skills.
 

TEXTBOOK

Applied Management Science (A Computer  Integrated Approach for Decision Making) Second Edition 
by John A Lawrence, Jr. and Barry A. Pasternack. 
Published by John Wiley & Sons.

PROCEDURES
 

1.    You will read selected chapters or sections from the text: 

2.    You will enjoy in class lectures, problem solving and worked examples.

3.    You will complete homework problems, in teams or alone (see Comments).

4.    You will make sure you come to office hours whenever you have a problem understanding the material covered.

5.    You will contact the me by e-mail, at adhall@som.umass.edu, for help if you cannot get to office hours.

6.    You will enjoy three out-of-class examinations, which will be based, mostly, on material covered in homework.

7.    You will come to class prepared.
 

EVALUATION
 
Points will be earned as follows:

Grades will be awarded on the following scale:
Task
Points

Grade
PointsEarned
Exam I
100 points

A
400
=>
points
>
360
Exam II
100 points

AB
360
=>
points
>
320
FinalExam
100 points

B
320
=>
points
>
280
Homework
100 points

BC
280
=>
points
>
240
Total
400 points

C
240
=>
points
>
200

D
200
=>
points
>
160

F
160
=>
points


 

COMMENTS

Homework:  Performance on homework assignments can make or break a grade. There will be twelve homework assignments from material covered in class or in assigned readings.  Each will be worth 10 points and the lowest 2 scores will dropped. You are encouraged to work in teams on homework assignments, but are expected to deliver individual write-ups.
Reading and Problem Preparation:  It is very important that you spend time reading and considering the assigned text and in-class problems before each class.
Exams: Make-up exams will not be given except in the event of serious illness or emergency.
Grading Policy:  When doing homework or taking an exam, show your work completely and in an organized manner to receive maximum credit. Correct answers without supporting calculations or diagrams will not receive credit. 
Simple Calculators: may be used during exams.
Graph Paper:  You will be called upon to produce diagrams and you should arm yourself with graph paper.
Computers:  You will need access to a computer and a printer.  Some familiarity with Excel will help you greatly.

SCHEDULE
 
#
Date
Description
Assignment
1
Tuesday 
Jan 29
Introduction, Administration and Overview - What is Management Science?
Get book. 
Read Chapter 1
2
Thursday 
Jan 31
The Management Science Process
Read Chapter 2
Homework 1 due Feb 5th
3
Tuesday 
Feb 5
Linear Programming (LP) - Introduction and Graphical Solutions
4
Thursday 
Feb 7
LP - Graphical Solutions and Sensitivity
Read The Simplex Method -Supplement CD3 Sections 1, 2 and 5. Homework 2 due Feb 12th
Monday
Feb 11
Last day to Add or Drop with no record
5
Tuesday
Feb 12
LP - Simplex Method I- Setting up Tableau
Read The Simplex Method -Supplement CD3 Sections 3 and  4.
6
Thursday
Feb 14
LP - Simplex Method II - The Simplex Algorthm,solving a Maximization Problem and Geometrical Interpretation.
Read The Simplex Method -Supplement CD3 Sections 6 and  7.
Homework 3 due Feb 21st
7
Thursday
Feb21
LP - Simplex Method III - The Simplex Algorthm, Solving a Minimization Problem, Sensitivity and Special Cases 
Read Chapter 3
Read Computer Problems Handout 
Read First LP Application Handout
Homework 4 due Feb 26th
8
Tuesday
Feb 26
Solving Linear Programs using the Solver in Excel – An Application to Profit Maximization
Read Second LP Application Handout
9
Thursday
Feb 28
LP Applications - Risk Minimization 
- Advertizing Mix (Blending)
Read Third LP Application Handout
Homework 4 due Mar 5th
10
Tuesday
Mar 5
LP Applications - Diet Problem - Break Even Analysis
Read Fourth LP Application Handout
11
Thursday
Mar 7
LP Applications - Transport Problem
Read
Homework 5 due Mar 12th
Mar 7th to Mar 14th 1st Mid-Term Exam (actual Place, Time and Date to be decided)
The exam will cover LP Graphical Solutions, Sensitivity, Simplex Tableau and an LP Modelling
12
Tuesday
Mar 12
Integer Programming (IP) - Introduction
13
Thursday
Mar 14
IP - Sensitivity
Homework 6 due Mar 26th
Spring Break
14
Tuesday
Mar 26
IP -Applications - Selection from Alternatives (Capital Budgeting)
Wed.
Mar 27
Last day to Drop with “W”
15
Thursday
Mar 28
IP -Applications - Operate/Close Decisions (Fixed Charges)
Homework 7 due Apr 2nd
16
Tuesday
Apr 2
IP - Using Excel and Lindo to Solve IP’s
Read Chapter 4
17
Thursday
Apr 4
Network Models - Introduction
Read Network Model Algorithms Supplement 5
Read Transportation Problem Handout
Homework 8 due Apr 9th
18
Tuesday
Apr 9
Network Models - Transportation Problem
Read Assignment Problem Handout
19
Thursday
Apr 11
Network Models - Assignnment Problem
Read Chapter 5
Homework 9 due Apr 16th
Apr 16th to Apr23rd - 2ndMid-Term Exam (actual Place, Time and Date to be decided)
The exam will cover IP Applications and Network Models
20
Tuesday
Apr 16
Project Scheduling - Introduction, Gannt Charts and Modelling
Read Project Management Problem Handout
21
Thursday
Apr 18
Project Scheduling - Critical Path Method
Homework 10 due Apr 23rd
22
Tuesday
Apr 23
Project Scheduling - PERT
Read Chapter 6
23
Thursday
Apr 25
Decision Analysis - Decision Tables, Influence Tables and Decision Making Criteria
Read Review of Probability and Statistics - Supplement 1
Homework 11 due Apr 30th
24
Tuesday
Apr 30
Decision Analysis -Decision Making Under, Certainty, Uncertaintyand Perfect Information
25
Thursday
May 2
Decision Analysis - Risk, Bayesian Analysis and Decision Trees
26
Tuesday
May 7
Decision Analysis -Decision Trees
Read Chapter 9
Homework 12 due May 14th
27
Thursday
May 9
Queing Theory - Description of Queue, Poisson Distribution and Performance Measures
28
Tuesday
May 14
Queing Theory - M/M/1 and M/M/K
May 18th to May 24thFinal Exam (actual Place, Time and Date will be decided by Registrar)
Cumulative across the semester’s work, but concentrating on Project Scheduling, Decision Analysis and Queuing Theory.

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This is an official web page of the
Department of Finance & Operations Management
Eugene M. Isenberg School of Management
University of Massachusetts, Amherst
Tel: (413) 545-5580 | Fax: (413) 545-3858
Copyright 2001