Operational Research: Optimization and Decision Making

Course Introduction

Operational Research (OR) is the science of decision-making and optimization. This comprehensive course is designed to guide learners through the essential techniques of OR, including assignment and transportation problems, project network analysis, decision theory, and queuing theory. Through practical applications, learners will gain hands-on experience in solving optimization problems and implementing solutions in various industries.

By the end of this course, participants will be equipped with the skills to analyze problems systematically, develop optimal solutions, and contribute effectively to organizational success.

Section-Wise Curriculum Overview

Section 1: Introduction

Understand the foundation of Operational Research.

• Lecture 1: Course Structure of Operational Research (Preview enabled)
  Overview of the course content and learning objectives.

• Lecture 2: Introduction to Operational Research (Preview enabled)
  Introduction to OR, its history, and its applications in different industries.

Section 2: Assignment Problem

Learn to optimize resource allocation using assignment problem techniques.

• Lecture 3: Introduction to Assignment Problem (Preview enabled)
  Understand the fundamentals of assignment problems and their relevance.

• Lecture 4: Application and Method of Solving Assignment Problem
  Explore methods for solving assignment problems effectively.

• Lecture 5-9: Practical Problems for Minimization & Balanced/Unbalanced Sums
  Step-by-step analysis and solutions for balanced and unbalanced minimization problems.

• Lecture 10-12: Practical Problems for Maximization Sums
  Practical application and solutions for maximization problems.

Section 3: Transportation Problem

Master transportation problem-solving techniques to optimize logistics.

• Lecture 13: Introduction to Transportation Problem
  Overview of transportation problems and their importance in logistics.

• Lecture 14: Steps and Methods of Transportation Problem
  Detailed methods to solve transportation problems.

• Lecture 15-20: Initial Basic Solution Methods
  Practical applications of methods like North West Corner, Least Cost, and Vogel’s Approximation.

• Lecture 21-24: MODI Method and Optimality Test
  Advanced techniques for testing and achieving optimal solutions.

Section 4: Project Network Analysis

Analyze and optimize project timelines using network models.

• Lecture 25: Introduction to Project Network Analysis
  Importance of project network analysis in operations.

• Lecture 26-27: Components of Project Network
  Learn about key components like activities, events, and dependencies.

• Lecture 28-31: Critical Path Analysis (CPM)
  Techniques to identify the critical path and manage project schedules.

• Lecture 32-35: Program Evaluation and Review Technique (PERT)
  Application of PERT for managing uncertainties in project timelines.

Section 5: Decision Theory

Develop structured approaches to complex decision-making.

• Lecture 36: Introduction to Decision Theory
  Basics of decision theory and its role in operational research.

• Lecture 37-38: Practical Problems of Decision Theory
  Hands-on practice with decision-making problems.

• Lecture 39-42: Decision Trees
  Step-by-step guide to creating and analyzing decision trees.

Section 6: Queuing Theory

Optimize service operations using queuing models.

• Lecture 43: Learning about Queuing Theory
  Introduction to queuing theory and its applications in service operations.

• Lecture 44-45: Characteristics of Queuing Theory
  Explore factors like arrival rate, service rate, and queue discipline.

• Lecture 46-52: Practical Problems of Single and Multiple Server Models
  Step-by-step solutions for single and multiple server queuing models.

Conclusion

This course empowers learners to leverage operational research techniques to optimize resource allocation, improve logistics, and make informed decisions. With a blend of theoretical concepts and practical problem-solving, students will gain invaluable tools to address challenges in diverse fields like manufacturing, transportation, and service operations.

Who this course is for:

• Students and professionals in management, engineering, and logistics.
• Business analysts and operations managers.
• Anyone interested in learning structured problem-solving techniques.