Course detail

Optimization and Decision Making

FP-UorPAcad. year: 2019/2020

The course focuses especially on the basic principles of operational analysis. First of all, students will be made familiar with the linear programming fundamentals (LP) and with methods of LP problem solution. Number of examples of practical use of LP will be presented in the seminars, such as transportation problems solution, optimization of production, cutting plans optimization, etc. Also dealt with are the basic principles of network analysis - CPM, PERT and others.

Learning outcomes of the course unit

Students will be made familiar with the basic principles of modelling of traditional management problems; they will master the basic modelling principles suitable for well structured and deterministic management problems. They will be able to apply individual methods of the operational analysis under the conditions of particular company.

Prerequisites

For studying the course are required basic knowledge of mathematics and management.

Co-requisites

Not applicable.

Recommended optional programme components

Not applicable.

Recommended or required reading

RAIS, K. DOSKOČIL, R. Operační a systémová analýza I. Skripta, Brno: VUT v Brně, Fakulta podnikatelská, 2011, 125 s., ISBN 978-80-214-4364-8. (CS)
GROS, I. Kvantitativní metody v manažerském rozhodování. 1. vyd. Praha: Grada Publishing a.s., 2003. 432 s. ISBN 80-247-0421-8. (CS)
JABLONSKÝ, J. Operační výzkum : kvantitativní modely pro ekonomické rozhodování. Praha: Professional Publishing, 2002. ISBN 80-86419-23-1. (CS)

Planned learning activities and teaching methods

Instructing is divided into lectures and exercises. Lectures are focused on the theory referring to applications, exercises on practical calculations and solving of application tasks.

Assesment methods and criteria linked to learning outcomes

The following conditions have to be met by a student to be given the credit:
1. Successful completion of the semester project within the specified deadline.
2. Successful completion of credit test.
Examination Requirements:
1. Successful completion of the exam test.
Form of examination: Combined - a written test possibly followed by an oral examination.

Language of instruction

Czech

Work placements

Not applicable.

Course curriculum

Basic terms of the operational analysis.
Mathematical modelling – linear programming (LP).
Graphical solution of LP.
Solving LP problems – simplex method: transformation of a mathematical model into a canonical form, economic interpretation of slack variables, starting basic solution, optimality test, transfer to a new basic solution, slack variables.
Extended model.
Case study.
Transportation problem: introduction to the questions related to the transportation problems, approximation methods - ascending index method, Vogel's approximation method, example of solution of real transportation problem.
Post-optimization analysis.
Methods of network analysis – CPM.
Methods of network analysis – PERT.
Time analysis of node defined network graph.
Practical use of learned methods.
Case studies.

Aims

The main objective of the course is to make students familiar with the basic methods of the optimization applicable for management decision-making, and to develop their skills necessary for the application of this knowledge to solutions of practical organizational and economic problems in a company.

Specification of controlled education, way of implementation and compensation for absences

Control of results of independent written projects.

Type of course unit

 

Lecture

20 hours, optionally

Teacher / Lecturer

Exercise

10 hours, compulsory

Teacher / Lecturer

eLearning