NPTEL Syllabus

Quantitative Methods For Management -

Video course

COURSE OUTLINE

NPTEL
Course Design Rationale

The course provides an overview of management science / operations

research with select applications / case studies from management systems and
interdisciplinary areas.
http://nptel.iitm.ac.in

In the beginning statistics for management is briefly discussed by reviewing the

basics of probability and statistics leading to its applications in Quantitative Management
methods for Management.

A large canvas has been taken. Accordingly length & breadth, rather than
depth, is intention behind the detailed course design.
Pre-requisites:
Detailed course Outline
Basic knowledge of applied
An analytical scientific approach to Problem solving , quantitative analysis, Mathematics, Linear Algebra &
Operational research models & modeling process for Managerial Decision statistics.
Making. Suited more to MBA first year & B.Tech
prefinal & later semesters..
Statistics for Management: Measures of Central Tendency & Dispersion,
Probability concepts, Bayes Theorem & Applications, Probability Distributions-
Binomial,Poisson , Normal & Exponential , Sampling & Sampling Distributions, Additional Reading:
Testing of Hypothesis.
Select Journals in Operations
Correlation, Regression & Multivariate Analysis, Forecasting methods & Time Research/Quantitative techniques /
Series Analysis. Stochastic process introduction. Management Science>

Decision Analysis: Decision Trees& Utility Theory, Decision Making under 1. Annals of Operations research
uncertainty, under risk, under certainty & under conflict. Game Theory. 2. Computers and Industrial
engineering
Linear Programming; graphical, simplex method, dual simplex, Sensitivity 3. Computers and operations
Analysis & Duality. Integer Programming. Transportation, Transhipment & research
Assignment Models. 4. Decision sciences
5. Engineering Management
Multicriteria Decision making: Linear Goal Programming , Scoring Models, 6. European Journal of Industrial
Fuzzy outranking, Introduction to concepts of AHP (Analytic Hierarchy Engineering
Process} & ANP ( Analytic Network Process). 7. European Journal of Operational
research
Inventory models ( static, dynamic, probabilistic & stochastic), Waiting Line / 8. IIE transactions
Queing models steady state operation ( M/M/1). Simulation concepts & 9. INFOR
applications for inventory & Q-ing situations. 10. Informs
11. International Journal of
Network models; shortest route, maximal flow problem . PERT, CPM Operations & Production
Management
Glimpses of Metaheuristics ( Tabu, Simulated Annealing & Genetic algorithm),
12. International Journal of
Markov chains & Decision Processes, Sequencing, Dynamic Programming &
Production Economics
Nonlinear Programming ( Quadratic & Geometric Programming) . Case studies
13. International Journal of
& applications.
Production research
14. International Journal of
COURSE DETAIL Productivity and Quality
Management
15. Journal of Advances in
Management Research
S.No Description Hours
16. Management Science (USA)
17. OPSEARCH
18. OMEGA
Module 1: A overview to quantitative methods and 19. Operational research quarterly
probability 20. Operations research (ORSA)
21. Optimization
22. Optimization Methods and
Software
1 An analytical scientific approach to Problem 1hr Software
solving, An analytical scientific approach to 23. Production Planning & Control
Problem solving modeling process for 24. TIMS interfaces
Managerial Decision Making 25. Transportation science
26. Vikalpa

2. Statistics for Management: 1hr Coordinators:

Measures of Central Tendency &
Dispersion Dr. Seema Sharma
Department of Management StudiesIIT
Delhi

3. Probability concepts, Bayes Theorem & 1hr Prof. D.K. Banwet

Applications Department of Management StudiesIIT
Delhi

4. Probability Distributions- 1hr

Binomial, Poisson , Normal & Exponential

Module 2: Collection and analysis of data

5. Sampling & Sampling Distributions 1hr

6. Testing of Hypothesis ( z-,t-,Chi square, f- test) 1hr

7. Correlation, Regression & Multivariate 1hr

Analysis

Module 3: Decision making and quantitative

techniques

8. Forecasting methods & Time Series Analysis 1hr

9. Stochastic process introduction 1hr

10. Decision Analysis: Decision Trees& Utility 1hr

Theory

11. Decision Making under uncertainty 1hr

12. Decision Making under risk 1hr

13. Decision Making under certainty 1hr

14. Decision Making under conflict ( Game 1hr

Theory)

Module 4: Linear programming formulation and

solution

15. Linear Programming 1hr

16. Graphical & Simplex method 2hrs

17. Dual simplex, Sensitivity Analysis & Duality 1hr

18. Integer Linear Programming 2hrs

19. Transportation, Transshipment & Assignment 2hrs

Models

Module 5: Multi-criteria Decision making tools

20. Multi-criteria Decision making 1hr

21. Linear Goal Programming 2hrs

22. Scoring Models, Fuzzy outranking 1hr

23. AHP (Analytic Hierarchy Process} concepts & 1hr

applications

24 ANP ( Analytic Network Process) an 1hr

Introduction

Module 6: Inventory and queuing management

25 Inventory models ( static, dynamic, 2hrs

probabilistic & stochastic)

26 Waiting Line / Queuing models steady state 1hr

operation( M/M/1)

27 Simulation concepts & applications for 1hr

inventory & Queuing situations

28 Network models; shortest route, maximal flow 1hr

problem

Module 7: Advance quantitative methods

29 PERT& CPM Techniques & Applications 2hrs

30 Glimpses of Meta-heuristics 1hr

31 Tabu, Simulated Annealing & Genetic 1hr

algorithm
 32 Markov chains & Decision Processes 1hr

33. Sequencing, Dynamic Programming 1hr

34. Nonlinear Programming ( Quadratic & 2hrs

Geometric Programming)

Total 40 Hrs

References:

SELECT BIBLIOGRAPHY OF BOOKS OF OPERATIONS RESEARCH/

MANAGEMENT SCIENCE/ QUANTITATIVE METHODS
[Note: References underlined are more preferred & referred]

1. Anderson, Sweeney, Williams, 2002, Quantitative Methods for Business,

Thomson South Western
2. Anderson, Sweeney, Williams, 2005, An introduction to management
science Thomson South Western
3. Barry Render, RalphM StairJr, Michael E Hanna, 2005, Quantitative
analysis for management, Pearson Education
4. Charles A. Gallagher Hugh. J.Watson , 1985, Quantitative Methods for
Business Decisions, McGraw Hill international Book Company
5. Frederic S.Hillier, Gerald J.Liberman,2005 Introduction to Operations
Research, Tata McGraw-Hill
6. Fabrycky W.J , 1987, Applied Operations Research and Management
Science, Prentice Hall of India
7. George E. Monahan, 2000, Management Decisions Making, Cambridge
University Press
8. Gupta M.P. and R.B. Khanna, 2004, Quantitative Techniques for Decision
Making, Prentice Hall of India
9. Hadley.G, 1972,Linear Programming, Addison WesleyPublication
Company
10. Hamdy A Taha, 2006, Operations Research-An Introduction, Prentice Hall
of India
11. Kanti Swarup, P.K.Gupta, Man Mohan, 2008, Operation Research, Sultan
Chand and sons
12. Kothari.C.R, 1992, An Introduction to Operational Research, Vikas
Publishing House
13. Miller, Starr, 1973, Executive decisions and Operations research, Prentice
Hall of International Editions
14. Mustafi.C.K, 2004, Operations Research Methods and Practice, New Age
InternationalLtd,
15. Natarajan,A.M, Balasuramani.P,Tamilarasi, A2009 Operations Research,
Pearson Education
16. Nobbert Lloyd Enrick, 1979,ManagementOperations Research, Holt
Rinchart and Winston,
17. Rodney.D.John, Bernard R.Siskin, 1977,Quantitative Techniques for
Business Decisions, Prentice Hall of India
18. Ronald L. Rardin, 1998, Optimization in Operations Research, Prentice
Hall, Upper saddle-River New Jersey
19. Sharma J.K, 2006, Operations Research Theory and Practice, Macmillan
India Ltd.
20. Srinivasan.G, 2007, Operations Research, Eastern Economy Edition PHI
21. Srivasta.U.K, Shenoy G.V, Sharma.S.C, 2005, Quantitative Techniques in
Managerial Decisions, New Age International Ltd
22. Thomas L. Saaty, 2005, Theory and applications of the analytic network
process: Decision making within benefits, opportunities, costs and risks,
RWS Publications, Pittsburgh ,PA,
23. Thomas L. Saaty & Kevin P Kear n, 1985Analytical planning, Pergamoun
Press
24. Vohra N.D, 2007, Quantitative Techniques in Management, Tata McGraw-
Hill
 25. Wisniewski MIK, 2004, Quantitative Methods for Decision Makers,
Macmillan India Ltd.
26. Wayne L Winston, 2007,Operations Research, Thomson South Western
27. Rao M.R Puri MC Operational research and its applications recent
trendsAlled Publishers Pvt, Ltd
28. David .E. Goldberg 2007 Genetc Algorithm Pearson Education.

A joint venture by IISc and IITs, funded by MHRD, Govt of India http://nptel.iitm.ac.in