Hamdard University Bangladesh
Management Science
Course Code: HRM 327
Credit Hour: 3
Course Group: Specialization Courses: Human Resource Management
Introduction to Management Science: Characteristics and Process-The Scientific Approach-The Systems Point of View–An Interdisciplinary Approach-Definition and Classification of the Problem-Modeling (Formulation)-Solving the Model-Model Validation and Sensitivity Analysis-Implementation.
Linear Programming: Foundations- The Nature of Linear Programming Problems-Formulation- General Formulation and Terminology-The Graphical Method of Solution-Utilization of the Resources- Slack and Surplus Variables-The Simplex Method- Special Situations in the Simplex Method-Applications of Linear Programming.
Mathematical Programming: Duality-Primal and Dual Program-Characteristic of Primal, Dual Problem-Dual-Simplex Method- Complementary Slackness Condition.
Decision Theory: Decision Analysis- Classification of Decision Situation-Decision under Certainty, Uncertainty and Risk-Value of Perfect Information- Decision Table-Decision Tree Analysis- Replacement Decisions.
Distribution Models: The Transportation Problem: Characteristics and Assumptions-The Transportation Method: Applications-The Assignment Problem-Degeneracy.
Network Models: Introduction to PERT and CPM, Formulation: The Basic Inputs to PERT/CPM, Solving PERT and CPM, Event Analysis-Estimate of Activity Time in PERT-Finding the Probabilities of Completion in PERT (Risk Analysis)-The CPM: Cost-Time Relationships.
Utility and Game Theory: Utility and Decision Theory-Multiple Goals-Game Theory: Concept, Formulas, assumption and Classification-Pure and Mixed Strategy in two Person-Zero Sum Games-Non Zero Sum Games-Graphical Solution- LP and Game Theory- value and Minami Theory.
Dynamic Programming: The Nature of Dynamic Programming-Terminology and Structure-Allocation Processes-Mathematical Presentation and Optimization Techniques.
Markov Analysis: Markov Systems- State Probabilities, Steady State (Equilibrium)-Managerial Applications-Absorbing States. Queuing Theory.
Simulation Technique: Introduction-Planning-Probabilities-Determining Simulation-Application.
Recommended Books:
Efraim Turban and Jack R. Meredith, Fundamentals of Management Science, Business Publications, Inc. Texas, USA.
William J. Stevenson, Introduction to Management Science
Anderson, D.R., Sweeney, D.J, and Williams, T. A, An Introduction to Management Science. West Publishing Company.
Guisseppi A. Forgionne, Quantitative Decision Making
Hesse, R., Management Spreadsheet Modeling and Analysis. Boston: McGraw-Hill.
Turban and Meredith, Fundamentals of Management Science. Boston: McGraw-Hill
Levia & Kirkpatrick, Quantitative Approaches to Management