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Operation Research (Theory) [1]

Paper Code: 
24DFSG511B
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

This course will enable the students to understand and apply various operations research techniques such as linear programming, game theory, queuing theory, transportation, assignment problems, and decision theory in real-world decision-making scenarios.

 

 

Course Outcomes: 

Course

Learning outcome

(at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course

Title

 

24DFSG 511B

 

Operation Research

(Theory)

 

CO169: Analyze decision-making situations in business and tools of decision science

CO170: Solve problems of Linear Programming (LP) for optimum allocation of resources using different approaches.

CO171: Apply game theory and queuing theory to address business challenges, optimize resources, and improve customer satisfaction.

 CO172: Solve the transportation and interpret the cost-effective decision.

CO173: Analyze the uncertainty and risk situation of business and propose their solution with assignment the decision theory analysis.

CO174: Contribute effectively in course-specific interaction

 

Approach in teaching: Interactive Lectures, Discussion, Tutorials, Practical cases Power Point Presentation.    

 Learning activities for the students:                              Self learning assignments, Effective questions, Seminar presentation, Live practical problems analysis

CA test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation.

 

12.00
Unit I: 
Introduction:
  • Introduction: An Introduction to Operations Research, Definition, Scope of operation research, characteristics, advantages and limitations. Quantitative approach to decision-making, models and modeling in operation research
12.00
Unit II: 
Linear Programming
  • Linear Programming: Structure of Linear Programme model, Assumptions, Advantages and Limitations. General mathematical formulation model .Graphical and Simplex Solutions of LPP. Primal and Duality in LPP.

 

12.00
Unit III: 
Game Theory and Queuing Theory
  • Game Theory– Meaning, Theory of game- formulation of game model. Two person zero sum game & their solution, 2 X N and M X 2 games, pure with saddle point, Mix strategies (Graphical and algebraic methods), Limitations of Game theory.
  • Queuing Theory – meaning, concepts and operating characteristics of Queuing theory, Mathematical Analysis of Queuing Process.

 

12.00
Unit IV: 
Transportation
  •    Transportation: General Structure of Transportation problem, methods of finding, methods of finding an initial basic feasible solution (NWCM, LCM & VAM), Testing the optimality MODI method.
  •     Cases of unbalanced problems, Degeneracy, Maximization objective, Multiple solutions, and Prohibited Routes

 

12.00
Unit V: 
Assignment and Decision Theory

 

  • Assignment: Assignment problems, Introduction, General structure, problems on minimization & maximization.
  • Decision Theory: Decision theory- decision under uncertainty- Maxmin & Minmax, decision under Risk- Expected Value, decision tree problems.

 

Essential Readings: 
  • Mathur, Khandelwal, Gupta, Gupta, Operational Research, Ajmera Book Company, Jaipur
  •    Nag, N. K., Quantitative Methods, Kalyani Publishers, Jaipur
  •    Agarwal, N.P., and Agarwal, Sonia, Quantitative Techniques For Management, Ramesh Book Depot, Jaipur .
  • M.Sreenivasa Reddy – Operations Research – CENGAGE , New Delhi S.Gurusamy–Elements of Operations Research–Vijay Nicole Imprints private Limited, Chennai

 

References: 

Suggested Readings:

  • Kapoor, V. K., Operational Research, Sultan Chand & Sons, New Delhi
  •  Vohra, N. D., Quantitative Techniques in Management, Tata McGraw Hill, New Delhi
  • Taha, Hamady A. , Operational Research: An Introduction, Prentice Hall of India, New Delhi
  •  Agarwal NP and Sonia Agarwal, Operations Research and Quantitative Techniques, RBSA Publishers, New Delhi ,2009
  • Anand Sharma, Operations Research, Himalayan Publishing House, 2014 ,Mumbai
  • Gupta Pk And Gupta SP Quantitative Techniques and Operations Research, Sultan
  • Chand and Sons, 2014, New Delhi
  • Kanti Swarup,P.K. Gupta Man Mohan ,Operation research, Jain book agency, 2014, New Delhi
  • Sarangi, SK, Applied Operations Research And Quantitative Methods, Himalayan publishing house 2014, Mumbai.

E-Content::

Reference Journals:

  • European Journal of Operational Research
  • Operations Research Letters
  • Journal of the Operational Research Society
  • Asia-Pacific Journal of Operational Research
  • Mathematics of Operations Research

 

 

Academic Year: 
2024-2025 [8]

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[2] https://youtu.be/vv8Sk4zZ6Hw
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[8] https://finance.iisuniv.ac.in/academic-year/2024-2025