Prof Eliud

BU3315

Project

1

P ROJECT: REAL -L IFE AP P L ICATION OF M AN AGE M ENT SCIENCE

Project Introduction:

In this project, you will conduct a research on the application of management science in problem solving.

The outcomes of this research will help you understand how management science approach is used by

different organizations to solve complex business problems.

There are two parts of this project. In the first part, you will research the management science approach to

problem solving (or operations research.) In the second part, you will study about a specific tool that will be

covered in the course and handled via one of the many case studies in the textbook. Further, you will be

provided with a list of case studies to choose one case study to work on. In addition, you will research a real-

world example where a corporation used this same type of tool in their operations. At the end, you will

draw comparisons between the case study that you worked on and the real-life problem that the

corporation faced.

Course Learning Objectives Covered:

 Solve complex business problems using software based on mathematical models.

 Optimize the use of resources and maximize utility for the business using quantitative analysis

techniques.

 Apply linear programming technique to achieve optimal business outcomes.

 Apply queuing theory to reduce waiting time in queue.

 Solve business problems having elements of uncertainty using probability techniques.

 Analyze and solve business problems using statistical models.

BU3315

Project

2

P ROJECT SUBM ISS ION P L AN

Project

Part Description/Requirements of Project Part Evaluation Criteria

Project

Part 1

Title: History of Quantitative Analysis—Influencers

Select from one of the below topics for this project:

Topic Influencer

1. Linear Programming George B. Dantzig (p. 32)

2. Transportation Frank L. Hitchcock (p. 236)

or Tjalling C. Koopmans (p.

236)

3. Queuing Agner Krarup Erlang (p.

600)

4. Probability and Statistics Karl Pearson, Ronald Fisher

or Francis Galton

Use the ITT Tech Virtual Library, the textbook, or other valid

research resources or Web sites, such as Google Scholar, to

research the person you identified above. Based on your

research, write an essay that contains the following

information:

1. Identify the significant contribution by the selected

influencer.

2. What did the influencer bring to the table?

3. Where did the influencer work? What area or field?

Submission Requirements:

 Submit your response in a Microsoft Word document of

the following specifications:

 Font: Arial; Point 12

 Length: 400 words

 Cite references in proper APA format. For help, refer to

The Project Part 1

rubric will be used to

evaluate this

assessment.

BU3315

Project

3

Project

Part Description/Requirements of Project Part Evaluation Criteria

the ITT Tech Virtual Library>School of Study>General

Education Information>Recommended links>Grammar,

Writing, and Style>APA Formatting and Style Guide.

Due: Module 2

Grading Weight: 12.5%

Project

Part 2

Assessment Preparation Checklist:

Review Chapters 4, 6, 11, and 13 from your textbook,

Introduction to Management Science. These chapters will help

you understand the concepts of linear programming,

transportation model, queuing model, probability and statistical

models.

Title: Application of Quantitative Analysis Techniques

Choose any one of the following cases that is based on the topic

you selected in Project Part 1 and answer the corresponding

questions. For example if you chose Topic 1. Linear

Programming in Project Part 1, then you need to select Case 1:

Linear Programming.

 Case 1: Linear Programming–Case: Summer Sports

Camp at State University (p. 179)

o Help Mary formulate a linear programming model

for this problem and solve the formulated linear

programming model.

 Case 2: Transportation–Case: Stateline Shipping and

Transport Company (p. 282)

o Develop a model to assist Rachel and solve the

model to determine the optimal routes.

 Case 3: Queuing–Case: Northwoods Backpackers (pp.

The Project Part 2

rubric will be used to

evaluate this

assessment.

BU3315

Project

4

Project

Part Description/Requirements of Project Part Evaluation Criteria

634–635)

o Determine what order service configuration the

Packers should use to achieve their goals and

explain your recommendations.

 Case 4: Probability and Statistics–Case: Valley Swim Club

(pp. 535–536)

o Should the club issue new shares?

o If so, how many will it issue, and how much

additional revenue will it realize?

Submission Requirements:

 Submit your response in a Microsoft Excel workbook if

you choose Case 1 or 2. If you choose Case 3 or 4,

submit your response in a Microsoft Word document of

the following specifications:

 Font: Arial; Point 12

 Spacing: Double

 Length: 400 words

 Provide an explanation for each problem that

represents a thorough and critically analyzed response?

 Show all your calculations to justify your answer.

 Cite references, if any, in proper APA format. For help,

refer to the ITT Tech Virtual Library>School of

Study>General Education Information> Recommended

links>Grammar, Writing, and Style> APA Formatting and

Style Guide.

Due: Module 5

Grading Weight: 12.5%