Modelling in Management

Recommended Prerequisites

n.a.

 

Teaching Methods

The classes start with the basic concepts and models. Small examples are then used to illustrate the theoretical concepts. Students are encouraged to be active participants in the analysis of these examples, in order to develop their modelling skills and critical sense, allowing them to handle more complex cases.

The student can choose the continuous evaluation process, comprehending tests in class and being exempted of the final exam. The students that choose the continuous evaluation will not be admitted on the normal final exam, being, however, able to do the second final exam.

Learning Outcomes

Overall objectives

• To understand what a model is and the assumptions underlying its application;
• To choose the fittest model for each circumstance;
• To build models for decision support;
• To know how to assess the application of a model.

Specific objectives

• To formulate linear and mixed integer programming problems;
• To identify problems with a network structure;
• To build models for activities sequencing problems and to deal analytically with them;
• To build decision trees and to apply analytic methods;
• To represent games under the classic or the tree structure.

Generic competencies

The students will develop their abstracting and critic analysis of problems capacities and their competence to apply the acquired knowledge to new situations.

Specific competencies

The students will be able to identify and use models to represent several kinds of problems.

Work Placement(s)

No

Syllabus

What a model is: purpose, limitations and assumptions.

Formulation of linear programming problems.

Graphic resolution of linear programming problems with two decision variables,

Formulation of transportation problems.

Formulation of linear programming problems with integer and binary variables: constraints disjunction; several different values for the independent value; logic implication.

Formulation of location problems: set-covering and P-Center problem.

Formulation of network problems: shortest path; minimum spanning tree; maximum flow; minimum cost flow.

Activity sequencing models.

CPM – Critical path method.

Decision trees.

Game theory: dominated strategy; Nash equilibrium.

Head Lecturer(s)

Maria João Teixeira Gomes Alves

Assessment Methods

Continuous evaluation
Mini Tests: 100.0%

Exame Final
Exam: 100.0%

Bibliography

COSTA, João Paulo ; ALVES, Maria João ; CLÍMACO, João Namorado.  Exercícios para

as aulas de Investigação Operacional. Coimbra : FEUC, 1996. [BP 519.8 COS]

 

HILLIER, Frederick S. ; LIEBERMAN, Gerald J.  Introdução à pesquisa operacional. 8ª

ed.. São Paulo : McGraw-Hill Interamericana do Brasil, 2006. [BP 519.8 HIL]

 

WILLIAMS, H. P.  Model building in mathematical programming. 3rd ed. rev.. Chichester:

John Wiley & Sons, 1993. [BP 519.8 WIL]