Lecture1

D 0rimttody allocation experts n socoogy psychology

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Unformatted text preview: y Allocation - Experts ,n soC,o,ogy, Psychology. and BehavIoral sc,ence l”“Ol”ed EM-602 I QM-710 (NJ) Lecture 1 Page l-l - Problem Solving Technique OR I MS Today OR / MS I Dccision Science I Quantitative Analysis is one of the Fastest Growing Fields in Applied Science and Engineering l Academia l Government l Private Industry l OR Consultants l l l l l l OR Modeling Process Limitations of OR l l l l Decision Attematives - VrrlabM Wa un change to l Improve Solution - Undo tha Contmf of Mnagamant . Problem Constraints - Restrktlens lnhwefn In the System l - 0”tSide of Man~.mw,t’s ContrOl l Objective Criterion - Overall Goal Varlablc to be Optlmlzed EM-602 The Problem may not be Fully Understood Valid Data may not be Available Intangibles Cannot Ahvays be Included in the Mathematkal Model Mathematkal Model may be too Computationally Complex to Solve Feasible Solution OR Decision Model l Observe the System I Define Problem Construct a Suitable Mathematical Model Find a Solution to the Model Validate the Proposed Solution Report to Management I Implement Solution Feedback I A set of inputs (decision variables) which in combination are not in violation of any of the problem constraints. Only feasible solutions, therefore, are of any value to management decision makers. QM-710 (NJ) Lecture 1...
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This document was uploaded on 03/31/2014 for the course MS 602 at NJIT.

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