Course title

Operational Research

Code

 MGT 395

Professor

Assoc. prof. Violeta Cvetkoska

Course objectives (competences): 

After completing the course and passing the exam, students should be able to:  

·         use their own acquired skills and intuition for recognizing real problems in different business situations and to solve them properly;

·         create proper explicit models with embedded explicit purpose, and to use a variety of quantitative techniques for finding optimal/best solutions and perform sensitivity analysis;

·         be careful when choosing variables and using data from different sources;

·         recognize limitations about the values that might appear within the variables;

·         identify alternative decisions that have effect on the objective, and be familiar with the interaction between them, as well as to make better decisions, and

·         communicate ideas and work successfully in teams.

Course content: 

• Model approach on operational research;
• Methodology for optimal decision making;
• Production optimization;
• Models for control of the inventory;
• Linear programing;
• Nonlinear programing;
• Integer programing;
• Dynamic programing;
• Multi-criteria decision making;
• Queuing models; 
• Simulation modeling and
• Project management