Management Science Models and Techniques
Learn how to logically solve real word business problems using management science models and techniques using Excel
Updated on May, 2024
Language - English
Management Other,Management,Business,Project Management
Lectures -10
Duration -1.5 hours
30-days Money-Back Guarantee
Get your team access to 10000+ top Tutorials Point courses anytime, anywhere.
Course Description
The stuff of management science can seem abstract, and students sometimes have trouble perceiving the usefulness of quantitative courses in general. Part of the problem is that the examples used in books often do not seem realistic.
Unfortunately, examples must be made simple to facilitate the learning process. Larger, more complex examples reflecting actual applications would be too complex to help the student learn the modeling technique. The modeling techniques in this course are, in fact, used extensively in the business world, and their use is increasing rapidly because of information technology.
The real objective of management science is to solve the decision-making problems that confront managers by developing mathematical models of those problems
For this course, the main goal is to demonstrate solutions to various problems that managers face every single day. From maximizing profitability, minimizing transportation costs, to optimizing employee scheduling, this course will provide you with a hands-on approach to dealing with management science models and techniques.
There is no mathematical programming in this course or learning complex formulas, as we will use Microsoft Excel as an aid to solving various common business scenarios that you encounter at the workplace.
The whole idea is to make these mathematical topics seem less complex and present them in a practical way to your benefit. Each modeling technique is explained with straight forward examples followed by hands-on tutorials.
Thank you.
Syed and Team ClayDesk
Goals
What will you learn in this course:
- The course "Management Science Models and Techniques" is designed to provide you with a comprehensive understanding of the principles and applications of quantitative models and analytical techniques in the field of management science. Throughout the course, you will develop the skills and knowledge necessary to tackle complex business problems and make informed decisions using data-driven approaches.
- One of the primary goals of the course is to familiarize you with the fundamental concepts of management science. You will gain a solid understanding of how quantitative analysis contributes to decision-making processes, and how various models and techniques can be applied to solve real-world problems in different organizational contexts.
- A key focus of the course is on quantitative modeling. You will learn how to develop mathematical models that accurately represent and capture the essence of complex management problems. This includes identifying decision variables, formulating constraints, and defining objective functions. You will also explore different modeling approaches, such as linear programming, integer programming, and network models.
- Another important aspect of the course is decision analysis. You will learn how to make effective decisions in situations characterized by uncertainty and risk. Techniques such as decision trees, utility theory, and risk analysis will be covered, enabling you to evaluate and assess the potential outcomes of different decision alternatives. Moreover, you will learn how to incorporate risk preferences and value information in decision-making processes.
Prerequisites
What are the prerequisites for this course?
You should have an introductory knowledge of Microsoft Excel
Curriculum
Check out the detailed breakdown of what’s inside the course
What Will I Learn?
1 Lectures
-
Course Agenda
02:23
02:23
Management Science Models and Techniques
1 Lectures
Break Even Analysis
2 Lectures
Management Science Models and Techniques: Linear Programing Technique
3 Lectures
Introduction to Project Management
1 Lectures
Decision Making using Management Science Models and Techniques
1 Lectures
Conclusion
1 Lectures
Instructor Details
Syed Raza
eCourse Certificate
Use your certificate to make a career change or to advance in your current career.
Our students work
with the Best
Related Video Courses
View MoreAnnual Membership
Become a valued member of Tutorials Point and enjoy unlimited access to our vast library of top-rated Video Courses
Subscribe now
Online Certifications
Master prominent technologies at full length and become a valued certified professional.
Explore Now