Unit name | Management Science |
---|---|
Unit code | EFIM20005 |
Credit points | 20 |
Level of study | I/5 |
Teaching block(s) |
Teaching Block 2 (weeks 13 - 24) |
Unit director | Professor. Holland |
Open unit status | Not open |
Pre-requisites |
Mathematical and Statistical Methods 1 (EFIM10008) or Quantitative Analysis in Management (EFIM10014) |
Co-requisites |
None |
School/department | School of Management - Business School |
Faculty | Faculty of Social Sciences and Law |
Management Science is concerned with the application of quantitative techniques and the modelling of operational and strategic problems to aid management decision-making and planning both in the private and public sectors. Management scientists need to have a good awareness of the ways in which organisations operate, whether for-profit or in the public sector, and to understand the formulation and application of tools which aid managers in developing a more efficient and successful operation.
The term Management Science is often used synonymously with Operational Research, hence the acronym MS/OR. Applications of models typically relate to three functional areas of management: Operations Management, Project Management and, in recent decades, Strategic Management. Techniques which will be introduced include linear programming, project network analysis, decision trees and simulation. All concepts and techniques are illustrated using examples often derived from case studies. Appropriate software will be introduced for simulation. The practice of this methodology has been revolutionised by advances in computer technology and its application offers one of the most exciting developments for dealing with management problems, particularly those surrounding queueing and congestion issues.
On successful completion of this unit, students will be able to:
Teaching will be delivered through a combination of synchronous and asynchronous sessions including lectures, tutorials, drop-in sessions, discussion boards and other online learning opportunities.
MCQ: 20% , Test 20% and course work report 60% (approx 1500 words)