This unit examines the principles and applications of business modelling, how a business system is used as a key component of the broad decision support system or DSS. At the completion of the subject the student should understand some of the most commonly used computer modelling techniques used in business and industry and be familiar with the applications of these techniques to the solution of business related problems. Topics will include the fundamental breakeven analysis, various types of linear programming, network models, various aspects of decision making, waiting lines systems, Monte Carlo simulation and forecasting techniques.
2 hrs lectures/wk, 2 hrs laboratories/wk
For on-campus students, workload commitments per week are:
Lectures: 2 hours per week
Tutorials/Lab Sessions: 2 hours per week per tutorial (lab based, advance preparation is required)
and up to an additional 8 hours in some weeks for completing lab and project work, private study and revision.
Off-campus students generally do not attend lecture and tutorial sessions, however, you MUST spend equivalent time working through the relevant resources and participating in discussion groups each week.
One of FIT1006, ETW1102 or MAT1097 or equivalent.
Madhu Chetty
Neil Manson
Madhu Chetty
Neil Manson
Examination (3 hours): 60%; In-semester assessment: 40%
| Assessment Task | Value | Due Date |
|---|---|---|
| Assignment 1 | 20% | Week 6 |
| Assignment 2 | 20% | Week 11 |
| Examination 1 | 60% | To be advised |
Monash is committed to excellence in education and regularly seeks feedback from students, employers and staff. One of the key formal ways students have to provide feedback is through SETU, Student Evaluation of Teacher and Unit. The University's student evaluation policy requires that every unit is evaluated each year. Students are strongly encouraged to complete the surveys. The feedback is anonymous and provides the Faculty with evidence of aspects that students are satisfied and areas for improvement.
For more information on Monash's educational strategy, and on student evaluations, see:
http://www.monash.edu.au/about/monash-directions/directions.html
http://www.policy.monash.edu/policy-bank/academic/education/quality/student-evaluation-policy.html
A new unit book consisting of 12 Study Guides has been created, it replaces the previous version of 7 Study Guides.
If you wish to view how previous students rated this unit, please go to
https://emuapps.monash.edu.au/unitevaluations/index.jsp
Please check with your lecturer before purchasing any Required Resources. Limited copies of prescribed texts are available for you to borrow in the library, and prescribed software is available in student labs.
On-campus students, and those studying at supported study locations may use the facilities available in the computing labs. Information about computer use for students is available from the ITS Student Resource Guide in the Monash University Handbook. You will need to allocate up to 5 hours per week in some weeks for use of a computer, including time for newsgroup access and discussion groups.
Students studying off-campus are required to have the minimum system configuration specified by the Faculty as a condition of accepting admission, and regular internet access.
Limited copies of prescribed texts are available for you to borrow in the library.
Taylor, B.W. III. (2010). Introduction to Management Science. (10th) Prentice Hall (ISBN: 10: 013-245757-1 or 13: 978-0-13-245757-6).
The three Excel based software packages: Excel QM, Crystal Ball and TreePlan are included in the prescribed text book.
D. R. Anderson, D. J. Sweeney and T. A. Williams. (2005). An Introduction to Management Science. () Thomson Learning.
W. L. Winston, S. C. Albright and M. Broadie. (2001). Practical Management Science. (2nd) Duxbury Press.
J. A. Lawrence Jr. and B. A. Pasternack. (1998). Applied Management Science. () John Wiley & Sons Inc.
Refer to FIT2033 unit website.
| Week | Activities | Assessment |
|---|---|---|
| 0 | No formal assessment or activities are undertaken in week 0 | |
| 1 | Introduction and Breakeven Analysis (Ref: Study Guide SG1, Chap 1 of Text Book) | |
| 2 | Linear Programming ((Ref: Study Guide SG2; Chap 2 of Text book) | |
| 3 | Linear Programming: Computer Solution and Sensitivity Analysis ((Ref: Study Guide SG3; Chap. 3&4 of Text book) | |
| 4 | Integer Programming (Ref: Study Guide SG4; Chap.5 of Text book) | |
| 5 | Transportation and Assignment Problems (Ref: Study Guide SG5; Chap. 6 of Text book) | |
| 6 | Shortest Path and Minimal Spanning Tree Problems (Ref: Study Guide SG6; Chap 7 of Text book) | Assignment 1 due Week 6 |
| 7 | Multicriteria Decision Making (Ref: Study Guide SG7; Chap 9 of Text book) | |
| 8 | Decision Making Theory (Ref: Study Guide SG8; Chap 11&12 of Text book) | |
| 9 | Decision Tree (Ref: Study Guide SG9; Chap 11&12 of Text book) | |
| 10 | Queuing Analysis (Ref: Study Guide SG10; Chap 13 of Text book) | |
| 11 | Monte Carlo Simulation (Ref: Study Guide SG11; Chap 14 of Text book) | Assignment 2 due Week 11 |
| 12 | Forecasting (Ref: Study Guide SG12; Chap 15 of Text book) | |
| SWOT VAC | No formal assessment is undertaken in SWOT VAC | |
| Examination period | LINK to Assessment Policy: http://policy.monash.edu.au/policy-bank/ academic/education/assessment/ assessment-in-coursework-policy.html |
*Unit Schedule details will be maintained and communicated to you via your MUSO (Blackboard or Moodle) learning system.
Faculty Policy - Unit Assessment Hurdles (http://www.infotech.monash.edu.au/resources/staff/edgov/policies/assessment-examinations/unit-assessment-hurdles.html)
Academic Integrity - Please see the Demystifying Citing and Referencing tutorial at http://lib.monash.edu/tutorials/citing/
The solution to each problem will be assessed according to the following criteria:
The solution to each problem will be assessed according to the following criteria:
It is a University requirement (http://www.policy.monash.edu/policy-bank/academic/education/conduct/plagiarism-procedures.html) for students to submit an assignment coversheet for each assessment item. Faculty Assignment coversheets can be found at http://www.infotech.monash.edu.au/resources/student/forms/. Please check with your Lecturer on the submission method for your assignment coversheet (e.g. attach a file to the online assignment submission, hand-in a hard copy, or use an online quiz).
Submission must be made by the due date otherwise penalties will be enforced.
You must negotiate any extensions formally with your campus unit leader via the in-semester special consideration process: http://www.infotech.monash.edu.au/resources/student/equity/special-consideration.html.
Monash has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University's academic standards, and to provide advice on how they might uphold them.
You can find Monash's Education Policies at:
http://policy.monash.edu.au/policy-bank/academic/education/index.html
Key educational policies include:
The University provides many different kinds of support services for you. Contact your tutor if you need advice and see the range of services available at www.monash.edu.au/students. For Sunway see http://www.monash.edu.my/Student-services, and for South Africa see http://www.monash.ac.za/current/
The Monash University Library provides a range of services and resources that enable you to save time and be more effective in your learning and research. Go to http://www.lib.monash.edu.au or the library tab in my.monash portal for more information. At Sunway, visit the Library and Learning Commons at http://www.lib.monash.edu.my/. At South Africa visit http://www.lib.monash.ac.za/.
Academic support services may be available for students who have a disability or medical condition. Registration with the Disability Liaison Unit is required. Further information is available as follows:
Study resources provided: