Decision Modeling

By Prof. Biswajit Mahanty | IIT Kharagpur

Learners enrolled: 1002

Decision Modeling is an important component of Operations Research. With the advent of globalization, only those industries survive who would be able make effective decisions. Out of the vast coverage of decision models, this course focuses on decision analysis, waiting line or queuing models, simulation models, and network models. This course will be of immense value not only for the people working in manufacturing or service industry but also to undergraduate and postgraduate students of all fields of engineering and management.

INTENDED AUDIENCE:

Students from Bachelors in Engineering
Masters in Business Administration
Masters in Economics
Masters in Industrial Engineering
Masters in Operations Research/Operations Management
PhD in related fields

PREREQUISITES:

Basic Probability and Statistics
Basic Operations Research

INDUSTRY SUPPORT:

Manufacturing Industry
Chemical Industry
Service Industry
Management Consultancy Houses
Corporate Planning Groups

Summary

Course Status :	Completed
Course Type :	Elective
Duration :	8 weeks
Category :	Management Studies Operations
Credit Points :	2
Level :	Undergraduate/Postgraduate
Start Date :	26 Jul 2021
End Date :	17 Sep 2021
Enrollment Ends :	09 Aug 2021
Exam Date :	26 Sep 2021 IST

Note: This exam date is subjected to change based on seat availability. You can check final exam date on your hall ticket.

Page Visits

Course layout

Week 1: Decision Analysis: Introduction to Decision modeling, Probability Concepts, Decision modeling for deterministic, uncertainty, and risk situations.

Week 2: Decision Analysis: Bayes Theorem, Decision Making with and without Experimentation, Decision Trees

Week 3: Waiting Line Models: Elements of Queuing models, Queuing models based on the birth-and-death process

Week 4: Waiting Line Models: Priority-Discipline Queuing Models, Finite population models, Queuing cost models

Week 5: Simulation: Discrete-Event Simulation modelling, Random numbers and Random Variates, Input Modelling and Output analysis

Week 6: Simulation: Continuous Simulation, System Dynamics

Week 7: Network Models: Introduction to Graph theory, Tree and Spanning Tree, Maximal Flow algorithms

Week 8: Network Models: Maximal Flow algorithms (continued), Shortest Path algorithms

Books and references

1. Hillier F.S. and Lieberman G.J., Introduction to Operation Research, McGraw Hill.

2. Banks, J.S., Carson, Nelson B.L. and Nicol D.M., Discrete Event System Simulation, Pearson Education International Series.

3. Law A.M. and Kelton W.D., Simulation Modeling and Analysis, McGraw Hill International - Industrial Engg. Series.

4. Deo Narsingh, Graph Theory with Application to Engineering and Computer Science, Prentice Hall of India.

Instructor bio

Prof. Biswajit Mahanty

IIT Kharagpur

Prof. Biswajit Mahanty is a professor at the Department of Industrial and Systems Engineering of IIT Kharagpur. He has obtained his B.Tech (Hons) degree in Mechanical Engineering, and his M.Tech and Ph.D. degrees in Industrial Engineering and Management—all from IIT Kharagpur. He has had a rich and varied professional career with six years in industry and more than 26 years in teaching, research, and industrial consulting. His areas of interest are in Operations Research, Systems, Project Management, and Information Systems. He has guided 12 doctoral and more than 100 undergraduate and post-graduate level dissertations. He has also carried out a large number of sponsored research and industrial consulting projects. He has, to his credit, a number of publications in international journals of repute. He is also an author of the book ‘Responsive Supply Chain’ published by the prestigious CRC press. He has developed a 29-lecture NPTEL course on ‘Management Information System’ available on youtube. He has also taught at the School of Management at Asian Institute of Technology, Bangkok as a visiting faculty member.

Course certificate

The course is free to enroll and learn from. But if you want a certificate, you have to register and write the proctored exam conducted by us in person at any of the designated exam centres.

The exam is optional for a fee of Rs 1000/- (Rupees one thousand only).

Date and Time of Exams: 26 September 2021 Morning session 9am to 12 noon; Afternoon Session 2pm to 5pm.

Registration url: Announcments will be made when the registration form is open for registrations.

The online registration form has to be filled and the certification exam fee needs to be paid. More details will be made available when the exam registration form is published. If there are any changes, it will be mentioned then.

Please check the form for more details on the cities where the exams will be held, the conditions you agree to when you fill the form etc.

CRITERIA TO GET A CERTIFICATE

Average assignment score = 25% of average of best 6 assignments out of the total 8 assignments given in the course.

Exam score = 75% of the proctored certification exam score out of 100

Final score = Average assignment score + Exam score

YOU WILL BE ELIGIBLE FOR A CERTIFICATE ONLY IF AVERAGE ASSIGNMENT SCORE >=10/25 AND EXAM SCORE >= 30/75. If one of the 2 criteria is not met, you will not get the certificate even if the Final score >= 40/100.

Certificate will have your name, photograph and the score in the final exam with the breakup.It will have the logos of NPTEL and IIT Kharagpur .It will be e-verifiable at nptel.ac.in/noc.

Only the e-certificate will be made available. Hard copies will not be dispatched.

Once again, thanks for your interest in our online courses and certification. Happy learning.

- NPTEL team