FIT2033 - Computer models for business decisions

Leader: Dengsheng Zhang

Offered

Gippsland Second semester 2008 (Day)
Gippsland Second semester 2008 (Off-campus)
Sunway Second semester 2008 (Day)
Hong Kong Second semester 2008 (Off-campus)
Singapore Second semester 2008 (Off-campus)
South Africa Second semester 2008 (Day)

Synopsis

This unit examines the principles and practice of modelling and analysis of business systems as a support for the decision making activities. At the completion of the subject the student should understand some of the more commonly used computer modelling techniques used in business and industry and be familiar with the applications of these techniques to business related problems. Topics will include various aspects of decision making, waiting lines systems and simulation, project management and control, financial modelling, forecasting techniques, inventory control.

Objectives

Students will have understanding of:

1. Principles and application of computer based business and decision support systems;
2. Cost analysis using breakeven technique;
3. Main approaches to deal with decision making problems in business;
4. Business decisions with multiple criteria;
5. Widely used linear programming tools;
6. Carrying out sensitivity analysis using relevant computer software on a series of problems;
7. Queueing theory and simulation techniques;
8. Concepts of different types of forecasting;
9. Common optimisation methods for business applications;
10. Methodology to solve typical network problems using network flow models.

1. recognise the potential for efficiency and productivity gains through the use of technologies;
2. develop strong interests in formalising real world problems and solve them by computer models.

1. the application of spreadsheets such as EXCEL in solving common business decison problems;
2. use of dedicated software such as Excel QM, TreePlan, CrystalBall program sensitivity analysis by use of computer models.

1. Meet other students and professionals with variety of business expertise;
2. Participate in group discussion and team work solutions to business problems.

Assessment

Exam (3hours):60%; Assignment: 40%

Contact hours

one x 2hr lecture/week; one x 2hr tutorial/week

Prerequisites

MAT1097 or ETW1102 or equivalent

Prohibitions

FIT2017, ETW2840, (Translation set:GCO2803)