Operational Research: Optimization And Decision Making

Master the techniques of operational research to solve complex real-world problems and make data-driven decisions.

What you'll learn

Core principles and applications of operational research.

Techniques for solving assignment and transportation problems.

Tools for project scheduling using CPM and PERT.

Decision-making frameworks like decision trees.

Optimization of service operations through queuing theory.

Requirements

Basic mathematical knowledge.

Interest in problem-solving and optimization.

No prior experience in operational research is required.

Description

Course IntroductionOperational 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 OverviewSection 1: IntroductionUnderstand 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 ProblemLearn 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 ProblemExplore methods for solving assignment problems effectively.Lecture 5-9: Practical Problems for Minimization & Balanced/Unbalanced SumsStep-by-step analysis and solutions for balanced and unbalanced minimization problems.Lecture 10-12: Practical Problems for Maximization SumsPractical application and solutions for maximization problems.Section 3: Transportation ProblemMaster transportation problem-solving techniques to optimize logistics.Lecture 13: Introduction to Transportation ProblemOverview of transportation problems and their importance in logistics.Lecture 14: Steps and Methods of Transportation ProblemDetailed methods to solve transportation problems.Lecture 15-20: Initial Basic Solution MethodsPractical applications of methods like North West Corner, Least Cost, and Vogel's Approximation.Lecture 21-24: MODI Method and Optimality TestAdvanced techniques for testing and achieving optimal solutions.Section 4: Project Network AnalysisAnalyze and optimize project timelines using network models.Lecture 25: Introduction to Project Network AnalysisImportance of project network analysis in operations.Lecture 26-27: Components of Project NetworkLearn 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 TheoryDevelop structured approaches to complex decision-making.Lecture 36: Introduction to Decision TheoryBasics of decision theory and its role in operational research.Lecture 37-38: Practical Problems of Decision TheoryHands-on practice with decision-making problems.Lecture 39-42: Decision TreesStep-by-step guide to creating and analyzing decision trees.Section 6: Queuing TheoryOptimize service operations using queuing models.Lecture 43: Learning about Queuing TheoryIntroduction to queuing theory and its applications in service operations.Lecture 44-45: Characteristics of Queuing TheoryExplore factors like arrival rate, service rate, and queue discipline.Lecture 46-52: Practical Problems of Single and Multiple Server ModelsStep-by-step solutions for single and multiple server queuing models.ConclusionThis 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.

Overview

Section 1: Introduction

Lecture 1 Course Structure of Operational Research

Lecture 2 Introduction to Operational Research

Section 2: Assignment Problem

Lecture 3 Introduction to Assignment Problem

Lecture 4 Application and Method of Solving Assignment Problem

Lecture 5 Practical Problem of Minimization & Balanced sum Part-1

Lecture 6 Practical Problem of Minimization & Balanced sum Part-2

Lecture 7 Final Solution of Minimization & Balanced Sum & Copy

Lecture 8 Practical Problem of Minimization & Unbalanced Sum Part-1

Lecture 9 Practical Problem of Minimization & Unbalanced Sum Part-2

Lecture 10 Practical Problem of Maximization Sum Part-1

Lecture 11 Practical Problem of Maximization Sum Part-2

Lecture 12 Final Solution of Maximization Sum

Section 3: Transportation Problem

Lecture 13 Introduction to Transportation Problem

Lecture 14 Steps and Methods of Transportation Problem

Lecture 15 Understanding the Initial Basic Solution Methods

Lecture 16 Practical Problem of North West Corner Method

Lecture 17 Practical Problem of Least Cost Method

Lecture 18 Practical Problem of Vogel&s Approximation Method Part-1

Lecture 19 Practical Problem of Vogel&s Approximation Method Part-2

Lecture 20 Another sum of Vogels Approximation Method

Lecture 21 Understanding the application of MODI Method

Lecture 22 Practical Sum of Optimality Test Part-1

Lecture 23 Practical Sum of Optimality Test Part-2

Lecture 24 Final Solution of Optimality Test

Section 4: Project Network Analysis

Lecture 25 Introduction to Project Network Analysis

Lecture 26 Components of Project Network Part-1

Lecture 27 Components of Project Network Part-2

Lecture 28 Learning of Critical Path Analysis

Lecture 29 Practical Sum of CPM Part-1

Lecture 30 Practical Sum of CPM Part-2

Lecture 31 Final Solution of CPM

Lecture 32 Learning of Program Evaluation and Review Technique

Lecture 33 Practical Sum of PERT Part-1

Lecture 34 Practical Sum of PERT Part-2

Lecture 35 Final Solution of PERT

Section 5: Decision Theory

Lecture 36 Introduction to Decision Theory

Lecture 37 Understanding the practical problem of decision theory

Lecture 38 Practical Sum of Decision Theory

Lecture 39 Understanding of Decision Tree Part-1

Lecture 40 Understanding of Decision Tree Part-2

Lecture 41 Practical Sum of Decision Tree part 1

Lecture 42 Practical Sum of Decision Tree part 2

Section 6: Queuing Theory

Lecture 43 Learning about Queuing Theory

Lecture 44 Characteristics of Queuing Theory Part 1

Lecture 45 Characteristics of Queuing Theory Part 2

Lecture 46 Practical Sum of Single Server Model

Lecture 47 Final Solution of Single Server Model Part 1

Lecture 48 Final Solution of Single Server Model Part 2

Lecture 49 Practical Sum of Multiple Server Model Part 1

Lecture 50 Practical Sum of Multiple Server Model Part 2

Lecture 51 Final Solution of Multiple Server Model Part 1

Lecture 52 Final Solution of Multiple Server Model Part 2

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