OPMT 3197 Fall 2017

Management Science Sam Choo

Important Course Information

COURSE DESCRIPTION:
This course provides students with an introduction to an area of management science that is
sometimes called quantitative methods or operations research. The objective of this course is to
have students develop an appreciation of the management science approach to problem
formulation and solution that is now so important in todays business and industrial sectors. The
course focuses on quantitative approaches to decision making and introduces a variety of
management sciences models, methods, and procedures. The major areas of study are linear
programming (LP), simulation modeling, and forecasting.

EVALUATION
Lab and Homework Assignments 10 %
Test #1 25 %
Test #2 20 %
Final Exam 45 %
TOTAL 100 %

COURSE LEARNING OUTCOMES/COMPETENCIES

Upon successful completion of the course, the student will be able to:
1. Use graphical solution procedures for LP problems with only two variables to understand
how LP problems are solved.
2. Understand how to setup LP problems in a spreadsheet and solve them using Excel Solver.
3. Model a wide variety of LP problems: Understand major business application areas for LP
problems such as manufacturing, marketing, labour scheduling, blending, transportation, and
multi-period planning.
4. Explain the advantages and disadvantages of simulation.
5. Tackle a variety of problems using Monte Carlo simulation, such as expected profit models,
and models for operational decisions and policies.
6. Setup and solve simulation models using Excels standard functions.
7. Understand and know when to use various families of forecasting models (qualitative models
versus time series models)
8. Develop stationary models: moving averages, weighted moving averages, and exponential
smoothing.
9. Develop a simple linear regression trend model. Students will be exposed to seasonality
models and multiple linear regression models, but they will not be covered in depth.

INSTRUCTOR
Sam Choo Office: SE6-370E Office Phone: (604) 456-1182
Office Hours: As posted on E-mail Address: ychoo1@bcit.ca
http://timetables.bcitbusiness.ca

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OPMT 3197 Fall 2017
Management Science Sam Choo

LEARNING RESOURCES
Required Textbook:
Managerial Decision Modeling Modeling with Spreadsheets 3e, Pearson Custom Library, 2016.
ISBN: 978-1-3233-5970-9

Students are required to use Microsoft Excel & can use a calculator of their choice.

INFORMATION FOR STUDENTS

Assignments: Late assignments, lab reports or projects will not be accepted for marking.
Assignments must be done on an individual basis unless otherwise specified by the instructor.

Makeup Tests, Exams or Quizzes: There will be no makeup tests, exams or quizzes. If you
miss a test, exam or quiz, you will receive zero marks. Exceptions may be made for documented
medical reasons or extenuating circumstances. In such a case, it is the responsibility of the
student to inform the instructor immediately.

Ethics: BCIT assumes that all students attending the Institute will follow a high standard of
ethics. Incidents of cheating or plagiarism may, therefore, result in a grade of zero for the
assignment, quiz, test, exam, or project for all parties involved and/or expulsion from the course.

Attendance: Regular attendance in lectures and labs is seen as integral to student success,
therefore, attendance in class is monitored. Unexcused absences in excess of 10% of the time
(i.e. absent for two or more lectures) prescribed for this course may result in the assignment of
a failing grade and/or removal from the course. In case of illness or other unavoidable absence,
students must communicate with me, or the appropriate Program Head, as soon as possible
indicating the reason for the absence. Students who are seeking accommodation for a medical
absence must have a BCIT-approved medical certificate. For other absences, students must be
prepared to provide appropriate supporting documentation. These requirements are set out in
accordance with BCIT Policy 5101 Student Regulations.

Attempts: Students must successfully complete a course within a maximum of three attempts at
the course. Students with two attempts in a single course will be allowed to repeat the course
only upon special written permission from the Associate Dean. Students who have not
successfully completed a course within three attempts will not be eligible to graduate from the
appropriate program.

Course Outline Changes: The material or schedule specified in this course outline may be
changed by the instructor. If changes are required, they will be announced in class.

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OPMT 3197 Fall 2017
Management Science Sam Choo

SCHEDULE This schedule is subject to change at the discretion of the instructor

Day Topic Text Reference

Sept 6 Linear Programming Graphical Method and an

Chapter 2
Sept 13 introduction to Solver
Linear Programming Product Mix Problems,
Sept 20 Make vs. Buy Problems Employee Staffing
Chapter 3
Sept 27 Problems, Blending Problem, Transportation
Problem
Oct 4 Linear Programming Production Scheduling
Chapter 3
Problems
Oct 11 Test #1 (Chapters 2 and 3, worth 25%)
Oct 18 Monte Carlo Simulation Part 1
Chapter 5
Oct 25 Monte Carlo Simulation Part 2
Monte Carlo Simulation Part 3
Nov 1
Test #2 (Chapter 5, worth 20%) Chapter 5
Nov 8

Nov 15 Forecasting Part 1

Chapters 6
Nov 22 Forecasting Part 2

Nov 29 Catch up and Review

Chapters 2,3,5,6
Dec 8 Final Exam (worth 45%)

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