This unit introduces students to the principles, techniques and applications of computer-based decision support models for business and industry. Topics include: decision trees; linear programming and optimisation; other mathematical programming methods; waiting lines and queues; time series analysis and forecasting; inventory modelling and discrete-event simulation. Models will be built and solved using spreadsheets or other computer applications as appropriate.
Minimum total expected workload equals 12 hours per week comprising:
(a.) Contact hours for on-campus students:
(b.) Additional requirements (all students):
See also Unit timetable information
BUS5570
At least one quantitative unit (such as Mathematics or Statistics) in an undergraduate degree.
David Dowe
Consultation hours: T.B.A.
T.B.A.
Consultation hours: T.B.A.
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 the Student Evaluation of Teaching and Units (SETU) survey. 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.
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Previous student feedback for the course was highly positive and thus no changes have needed to be made this year.
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| Week | Activities | Assessment |
|---|---|---|
| 0 | Please register for tutorials in Allocate Plus. There will be NO tutorials in Week 1. However, students are advised to attempt a "Do-it-Yourself" Tutorial in Week 1 to familiarise with EXCEL basics. | No formal assessment or activities are undertaken in week 0 |
| 1 | Introduction to Mangement Science and Operations Research; Introduction to Optimisation and Linear Programming | No tutorial in Week 1 |
| 2 | Modelling and Solving LP Problems Graphically | Assessment task 2: Tutorial Work is assessed in Weeks 2 to 12 during and after each tutorial session |
| 3 | Spreadsheet Modelling | |
| 4 | Sensitivity analysis and the interpretation of solutions | |
| 5 | Transportation and Assignment Problems; and Network Modelling | |
| 6 | Integer Linear Programming & Goal Programming | |
| 7 | Inventory Modelling - Deterministic Demand | |
| 8 | Inventory Modelling - Stochastic Demand | |
| 9 | Decision Making under Risk and Uncertainty; Decision Trees | Assessment task 1: Spreadsheet Modelling due in Week 9 |
| 10 | (Time Series Analysis and) Forecasting | |
| 11 | Queuing | |
| 12 | Simulation | |
| 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 learning system.
Examination (2 hours): 60%; In-semester assessment: 40%
| Assessment Task | Value | Due Date |
|---|---|---|
| Spreadsheet modelling | 30% | Week 9 |
| Tutorial Participation | 10% | Weeks 2 to 12 after each tutorial session |
| Examination 1 | 60% | To be advised |
Faculty Policy - Unit Assessment Hurdles (http://intranet.monash.edu.au/infotech/resources/staff/edgov/policies/assessment-examinations/assessment-hurdles.html)
Academic Integrity - Please see resources and tutorials at http://www.monash.edu/library/skills/resources/tutorials/academic-integrity/
The criteria used to assess the assignment are:
The criteria used to assess are:
Anderson, D., Sweeney, D., Williams, T. (2001), Quantitative Methods for Business, 8th Edition (or latest Edition), 2001, Thomson Learning.
Lapin LL and Whisler WD (2002), "Quantitative Decision Making with Spreadsheet Applications", 7th Edition, Duxbury Press, 2002
Winston WL (2004), "Operations Research: Applications & Algorithms", 3rd Edition, Duxbury Press, 2004
Winston WL and Albright SC (2004), "Practical Management Science: Spreadsheet Modelling and Applications", 3rd Edition, Duxbury Press, 1997
Monash Library Unit Reading List (if applicable to the unit)
http://readinglists.lib.monash.edu/index.html
Types of feedback you can expect to receive in this unit are:
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.monash.edu.au/exams/special-consideration.html
It is a University requirement (http://www.policy.monash.edu/policy-bank/academic/education/conduct/student-academic-integrity-managing-plagiarism-collusion-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 electronic submission). Please note that it is your responsibility to retain copies of your assessments.
If Electronic Submission has been approved for your unit, please submit your work via the learning system for this unit, which you can access via links in the my.monash portal.
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.
Excel Solver is available for use in all University labs.
Limited copies of prescribed texts are available for you to borrow in the library.
Ragsdale C.T. (2015). Spreadsheet Modeling & Decision Analysis. (7th Edition) Thomson.
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: www.policy.monash.edu.au/policy-bank/academic/education/index.html
Important student resources including Faculty policies are located at http://intranet.monash.edu.au/infotech/resources/students/
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 http://www.monash.edu.au/students. For Malaysia 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, resources and programs that enable you to save time and be more effective in your learning and research. Go to www.lib.monash.edu.au or the library tab in my.monash portal for more information. At Malaysia, visit the Library and Learning Commons at http://www.lib.monash.edu.my/. At South Africa visit http://www.lib.monash.ac.za/.