Curricular Unit:Code:
Operational Research870IO
Year:Level:Course:Credits:
3UndergraduateCommercial Management and Accounting4 ects
Learning Period:Language of Instruction:Total Hours:
Portuguese/English52
Learning Outcomes of the Curricular Unit:
To understand the importance of management science in decision-making in different fields, such as production, marketing, investment, scheduling, transportation or assignment. To represent a real system in a linear programming model; to solve the model; to obtain information from the model in order to support the decision-making process. To identify and address decision problems, using a structured approach; to build decision problem models; to identify and draw on analytical methods for obtaining solutions that support for informed decisions.
Syllabus:
Introduction: OR and management science; object; methodology and applications of OR. Linear Programming: mathematical formulation and properties of the model; graphical solution; spreadsheet modelling and optimization; sensitivity analysis; duality. Linear Programming Applications: transportation problem; assignment problem. Decision analysis: deterministic decision-making criteria and probabilistic decision-making criteria.
Demonstration of the Syllabus Coherence with the Curricular Unit's Objectives:
1. Introduction. Allows understanding the importance of OR in management, by presenting of its nature, scope and its modelling approach based on the scientific method.
2. Linear Programming. Allows representing a problem via a linear programming model, by formulating it as a mathematical model. Allows solving the model, using the graphical method and MS Excel Solver. The interpretation of the solution of the problem is accompanied by duality and sensitivity analysis to model parameters.
3. Linear Programming Applications. Allows recognizing and solving particular types of linear programming models, such as the transportation and assignment problems, by constructing a LP model, finding the solution and reporting the results for decision-making purposes.
4. Decision analysis. Allows recognizing and solving decision problems under uncertainty conditions relative to future events, as well as reporting the results for decision-making purposes.
Teaching Methodologies (Including Evaluation):
The course relies on theoretical presentations, conceptual clarification and computational calculation. Lectures combine theory and practice, and analysis of case-study scenarios. Assessment is based on 1 test (50%) and homework (50%).
Demonstration of the Coherence between the Teaching Methodologies and the Learning Outcomes:
The combination of theoretical presentations and problem solving tasks enables students to acquire specific theoretic knowledge in operations research, as well as to practice its application to specific case-scenarios.
Reading:
Hill, M. M. e Santos, M. M. (2015). Investigação Operacional, Volume I, Programação Linear, 3ª Ed.. Lisboa: Edições Sílabo.
Hill, M. M., Santos, M. M. e Monteiro, A. L. (2015). Investigação Operacional, Volume 3, Transportes, Afetação e Otimização em Redes, 2ª Ed.. Lisboa: Edições Sílabo.
Hillier, F.S. e Lieberman, G.J. (2014). Introduction to Operations Research, 10th Ed . Boston: McGraw Hill.
Hillier, F. S. and Hillier, M. S. (2019). Introduction to Management Science: A Modelling and Case Studies Approach with Spreadsheets, 6th Ed. Boston: McGraw Hill.
Menezes, L. (2009). Gestão de projetos, 3ª Ed.. São Paulo: Atlas.