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Decision Science

This document outlines the contents of a 4 unit course on decision science. Unit 1 covers assignment and transportation models, including formulations and solution techniques. Unit 2 covers Markov chains, simulation, and decision theory. Unit 3 discusses game theory. Unit 4 includes topics like queuing theory, CPM, PERT, network calculations, and sequencing problems. The course aims to teach quantitative techniques useful for decision making.

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Shruti Jain
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2K views1 page

Decision Science

This document outlines the contents of a 4 unit course on decision science. Unit 1 covers assignment and transportation models, including formulations and solution techniques. Unit 2 covers Markov chains, simulation, and decision theory. Unit 3 discusses game theory. Unit 4 includes topics like queuing theory, CPM, PERT, network calculations, and sequencing problems. The course aims to teach quantitative techniques useful for decision making.

Uploaded by

Shruti Jain
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Course Title Decision Science

Unit Contents
Number

Introduction: Importance of Decision Sciences & Role of quantitative


techniques in decision making.

Assignment Models: Concept, Flood’s Technique/ Hungarian Method,


1 applications including restricted & multiple assignments.

Transportation Models: Concept, Formulation, Problem types: Balanced,


unbalanced, Minimization, Maximization Basic initial solution using North
West Corner, Least Cost & VAM, Optimal Solution using MODI.

Linear Programming: Concept, Formulation & Graphical Solution

Markov Chains & Simulation Techniques: Markov chains: Applications


2 related to management functional areas, Implications of Steady state
Probabilities, Decision making based on the inferences Monte Carlo
Simulation, scope and limitations.

Decision Theory: Concept, Decision under risk (EMV)& uncertainty

Game Theory: Concept,2 by 2 zero sum game with dominance, Pure &
3 Mixed Strategy

Queuing Theory: Concept, Single Server ( M/M/I , Infinite, FIFO) and Multi
Server (M/M/C , Infinite, FIFO)

CPM & PERT: Concept, Drawing network, identifying critical path

Network Calculations: Calculating EST, LST, EFT, LFT, Slack & probability of
project completion
4
Sequencing problems: Introduction, Problems involving n jobs- 2
machines, n jobs- 3 machines & n jobs-m machines; Comparison of
priority sequencing rules.

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