Course detail

Principles of Optimization and Decision Making

FP-KorKAcad. year: 2017/2018

The course focuses especially on the basic principles of operational analysis. First of all, students will be made familiar with the linear programming fundamentals (LP) and with methods of LP problem solution. Number of examples of practical use of LP will be presented in the seminars, such as transportation problems solution, optimization of production, cutting plans optimization, etc. Also dealt with are the basic principles of network analysis – CPM, PERT and others.

Language of instruction

Czech

Number of ECTS credits

6

Mode of study

Not applicable.

Guarantor

prof. Ing. Petr Dostál, CSc.

Department

Institute of Informatics (ÚI)

Learning outcomes of the course unit

Students will be made familiar with the basic principles of modelling of traditional management problems; they will master the basic modelling principles suitable for well-structured and deterministic management problems. They will be able to apply individual methods of the operational analysis under the conditions of particular company.

Prerequisites

For studying the course are required basic knowledge of mathematics and management.

Co-requisites

Not applicable.

Planned learning activities and teaching methods

The course is taught through lectures explaining the basic principles and theory of the discipline, including illustrative examples.

Assesment methods and criteria linked to learning outcomes

Examination Requirements:
1. Successful completion of the semester project within the specified deadline.
2. Successful completion of the exam test.
Form of examination: Combined - a written test possibly followed by an oral examination.

Course curriculum

Basic terms of the operational analysis.
Mathematical modelling – linear programming (LP).
Graphical solution of LP.
Solving LP problems – simplex method: transformation of a mathematical model into a canonical form, economic interpretation of slack variables, starting basic solution, optimality test, transfer to a new basic solution, slack variables.
Extended model.
Case study.
Transportation problem: introduction to the questions related to the transportation problems, approximation methods - ascending index method, Vogel's approximation method, example of solution of real transportation problem.
Post-optimization analysis.
Methods of network analysis – CPM.
Methods of network analysis – PERT.
Time analysis of node defined network graph.
Practical use of learned methods.
Case studies.

Work placements

Not applicable.

Aims

The aim of the course is to get acquainted with some advanced and non-standard methods of analysis and simulation techniques in economy and finance by the method of explanation of these theories, to become familiar with these theories and their use.

Specification of controlled education, way of implementation and compensation for absences

A student’s own work on the tasks assigned is checked.

Recommended optional programme components

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

RAIS, K. DOSKOČIL, R. Operační a systémová analýza I. Skripta, Brno: VUT v Brně, Fakulta podnikatelská, 2011, 125 s., ISBN 978-80-214-4364-8. (CS)

Recommended reading

GROS, I. Kvantitativní metody v manažerském rozhodování. 1. vyd. Praha: Grada Publishing a.s., 2003. 432 s. ISBN 80-247-0421-8. (CS)
JABLONSKÝ, J. Operační výzkum: kvantitativní modely pro ekonomické rozhodování. Praha: Professional Publishing, 2002. ISBN 80-86419-23-1. (CS)

Classification of course in study plans

  • Programme BAK-KS Bachelor's

    branch BAK-EP-KS , 3 year of study, summer semester, compulsory

Type of course unit

 

Lecture

16 hod., optionally

Teacher / Lecturer

prof. Ing. Petr Dostál, CSc.

Syllabus

1. Basic terms of the operational analysis.
2. Mathematical modelling – linear programming (LP).
3. Graphical solution of LP.
4. Solving LP problems – simplex method: transformation of a mathematical model into a canonical form, economic interpretation of slack variables, starting basic solution, optimality test, transfer to a new basic solution, slack variables.
5. Transportation problem: introduction to the questions related to the transportation problems, approximation methods - ascending index method, Vogel's approximation method, example of solution of real transportation problem.
6. Methods of network analysis – CPM.
7. Methods of network analysis – PERT.
8. Time analysis of node defined network graph.
9 .Practical use of learned methods.
10.Case studies.