The Art of Management Science Models and Techniques | Syed Raza | Skillshare

The Art of Management Science Models and Techniques

Syed Raza, IT Architect: CEO

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11 Lessons (1h 55m)
    • 1. Course Introduction

    • 2. What will I learn?

    • 3. What is Management Science?

    • 4. What is Break Even analysis?

    • 5. Introduction to Linear Modeling

    • 6. Break even analysis in action

    • 7. Linear Modeling - Diet Exercise

    • 8. Linear Modeling - Minimizing Transportation Costs

    • 9. Effective Project Management

    • 10. How to make effective decisions?

    • 11. Course Conclusion


About This Class

The stuff of management science can seem abstract, and students sometimes have trouble perceiving the usefulness of quantitative courses in general. Part of the problem is that the examples used in books often do not seem realistic.

Unfortunately, examples must be made simple to facilitate the learning process. Larger, more complex examples reflecting actual applications would be too complex to help the student learn the modeling technique. The modeling techniques in this course are, in fact, used extensively in the business world, and their use is increasing rapidly because of information technology.

The real objective of management science is to solve the decision-making problems that confront managers by developing mathematical models of those problems

For this course, the main goal is to demonstrate solutions to various problems that managers face every single day. From maximizing profitability, minimizing transportation costs, to optimizing employee scheduling – this course will provide you with a hands-on approach to dealing with management science models and techniques.

There is no mathematical programming in this course or learning complex formulas, as we will use Microsoft Excel as an aid to solving various common business scenarios that you encounter at the workplace. You will learn how to:

  • Choose to apply the right Management Science Model and Technique
  • Apply linear programming to solve common business problems
  • Conduct a Break even Analysis
  • Learn to make effective decisions using Management Science techniques
  • Use linear programming: Maximizing diet options example
  • Use linear programming to minimize transportation costs

The whole idea is to make these mathematical topics seem less complex and present them in a practical way to your benefit. Each modeling technique is explained with straight forward examples followed by hands-on tutorials.