Quantitative Methods for Decision Making ΙΙ

General

• Code: 501
• Semester: 5th
• Study Level: Undergraduate
• Course type: Special Background
• Teaching and exams language: Greek
• Teaching Methods (Hours/Week): Lectures and Laboratories (5)
• ECTS Units: 5
• Course homepage: https://elearning.cm.ihu.gr/course/view.php?id=10
• Instructors: Dimitriadis Sotirios, Vakalos Alexandros

Course Contents

• Project Scheduling.
• Dynamic Programming.
• Queuing Theory.
• Game Theory.

Educational Goals

The purpose of the course is to present Operational Research methods used to solve specific problems of management practice. More specifically, the course presents Network Analysis Techniques for planning and controlling large projects, multistage problems solved by Dynamic Programming techniques, quantitative models from Queuing Theory used to improve the performance of service systems and elements from Game theory, used for decision making in situations of competition or conflict. The purpose of the additional laboratory courses and practice exercises is to demonstrate the solution of the specific problems presented in theory using specialized software (such as spreadsheets), to interpret the solution results, to analyze the sensitivity of the results with respect to initial assumptions and hypotheses, and to demonstrate the use of specialized software in management decision making in practice.

Upon completion of the course, students will be able to:

• Understand basic concepts of Network Analysis used for project planning, scheduling and control, construct the activity network of a project and use the appropriate solving techniques (PERT, CPM) for planning and controlling a project.
• Understand the basic concepts of Dynamic Programming, divide a multistage decision-making problem into sub-problems, formulate the recursive relationship of the problem, and determine its optimal solution.
• Develop and use the basic models of Queuing Theory to represent real service systems, solve these models and calculate system performance indicators, calculate the total cost of the service system resulting from a combination of the cost of providing service and the cost of customers waiting.
• Understand what a game is, give examples of using games to represent problems of competitive interdependence and solve a game using the appropriate methodology.

General Skills

to be filled

Teaching Methods

• Face to face.

Use of ICT means

• Online guidance.
• Slides Projection in the classroom.
• Use of E-mail and onlne communication systems.
• Use of e-learning system (moodle).

Teaching Organization

Students Evaluation

to be filled

Recommended Bibliography

ΔΙΔΑΚΤΙΚΑ ΣΥΓΓΡΑΜΜΑΤΑ

• Π. Υψηλάντης, ‘Επιχειρησιακή Έρευνα : Εφαρμογές στη σημερινή επιχείρηση, εκδόσεις ΠΡΟΠΟΜΠΟΣ, Έκδοση: Γ’ 2010/2007.
• Γ. Οικονόμου, Α. Γεωργίου, ‘Επιχειρησιακή Έρευνα για τη Λήψη Διοικητικών Αποφάσεων’, εκδόσεις Μπένου, Έκδοση: Α/2011.

ΠΡΟΣΘΕΤΗ ΠΡΟΤΕΙΝΟΜΕΝΗ ΒΙΟΒΛΙΟΓΡΑΦΙΑ

• Hillier F.S. and G.J. Lieberman, ‘Introduction to Operations Research’, 6th edition, International editions, McGraw-Hill, 1995.
• Π. Βασιλείου, Ν. Τσάντας, ‘Εισαγωγή στην Επιχειρησιακή Έρευνα’, εκδόσεις ΖΗΤΗ, 2000.
• Σ. Γ. Δημητριάδης, ‘Ποσοτικές Μέθοδοι για τη Λήψη Διοικητικών Αποφάσεων’, σημειώσεις από τις παραδόσεις, Σέρρες 2002.