Offered
Gippsland Second semester 2008 (Off-campus)
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 most 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 breakeven analysis, linear programming models, various aspects of decision making, waiting lines systems and simulation, network problems, and forecasting techniques.
Objectives
Students will have understanding of:
- Principles and application of computer based business and decision support systems
- Cost analysis using breakeven technique
- Main approaches to deal with decision making problems in business
- Business decisions with multiple criteria
- Widely used linear programming tools
- Carrying out sensitivity analysis using relevant computer software on a series of problems
- Queueing theory and simulation techniques
- Concepts of different types of forecasting
- Common optimisation methods for business applications
- Methodology to solve typical network problems using network flow models
- Efficiency and productivity gains through the use of technologies
- Develop strong interests in formalising real world problems and solve them by computer models
- Application of spreadsheets such as EXCEL in solving common business decison problems
- Use of dedicated software such as Excel QM, TreePlan, CrystalBall program
- Sensitivity analysis by use of computer models
- Meet peer students and professionals with variety of business expertise
- Participate in group discussion and team work solutions to business problems
Assessment
Assignments: 30%
Examination:70%
Prohibitions
BUS5570, BUS4570, GCO4802
