Sequential decision models
BS BB BI BM BR BT BC BP
Dr Richard Egudo
6 points * Second semester * 5 hours per week * Gippsland/Distance * Prerequisites: GAS1631, GAS2711
This subject introduces students to different techniques in modelling decision problems as sequential decision models. It aims to develop students' ability and understanding of modelling decision problems using sequential decision techniques; to introduce students to various techniques for solving sequential decision modelling problems; and to give students an appreciation of the limitations inherent in each technique. Topics include an introduction to different types of decision models including non-linear, quadratic and geometric programming models; formulating management problems as decision models; solution techniques for the introduced decision models and typical applications; introduction to sequential (dynamic) programming models, separable functions, recursive equations and limitations; network models including maximal flow, minimal spanning tree, shortest path, travelling salesman and Chinese postman problems; project planning and scheduling with limited/unlimited resources (CPM and PERT methods); use of computer software for solution of problems. For on-campus students, the program will usually involve three hours of lecture plus two hours of workshop per week. The workshop will involve case studies, problem solving, use of computer software and group work. For distance students, detailed study materials will be issued weekend schools may be organised to provide the opportunity for enrichment exercises via lecture/workshop mode.
Assessment
Assignments: 50% * Examination: 50%
Prescribed texts
To be advised