Course Information Package
|Course Unit Title||MANAGEMENT SCIENCE II|
|Course Unit Code||ABSO305|
|Course Unit Details|
|Number of ECTS credits allocated||5|
|Learning Outcomes of the course unit||By the end of the course, the students should be able to:|
|Mode of Delivery||Face-to-face|
|Recommended optional program components||NONE|
Network diagrams, critical path analysis, project scheduling with certain and uncertain activity times. Economic and time programming.
Considering Time-Cost trade-offs. Crashing activity times. Linear programming models for crashing decisions.
Decision tree analysis -Tree diagrams and payoff tables. Decision making without probabilities (optimistic, pessimistic and minima regret approaches), Decision making with probabilities. Sensitivity analysis. Expected value of perfect information.
Game theory. Matrix games, strategies, optimum strategies and the value of the game. Strictly determined games. 2X2 matrix games. 2xM and Mx2 games. Graphical method, MxM games.
Inventory control systems, EOQ model. Economic production lot size. Inventory models with planned shortages. Quantity discounts for the EOQ model
|Recommended and/or required reading:|
|Planned learning activities and teaching methods||The course is delivered to the students by means of lectures, and tutorials. Lecture notes are available through the e-learning platform of the University, and the instructor’s webpage. Students are encouraged for class work, problem solving and discussion.|
|Assessment methods and criteria|
|Language of instruction||English|