This unit examines the principles and practice of modelling and analysis of business systems as a support for the decision making activities. At the completion of the subject the student should understand some of the more commonly used computer modelling techniques used in business and industry and be familiar with the applications of these techniques to business related problems using some of the applications software and other related tools. Topics to be studied will include
Cost and profit analysis using breakeven technique
Common optimisation methods in business applications, such as linear programming and integer programming
Sensitivity analysis of linear programming using computer solutions
Solutions to traditional business problems, such as transportation, assignment and shortest path problems, using computer models
Various aspects of decision making such as decision making under risk, under uncertainty, decision with sample information
Multiple goals and multiple parties decision making
Waiting lines systems and simulation including Monte Carlo simulation
Forecasting technques namely simple exponential smoothing and double exponential smoothing.
Objectives
Students will have understanding of:
Principles and application of computer based business and decision support systems
Cost analysis using breakeven technique
Major approaches to deal with decision making problems in business
Business decisions with multiple criteria
Widely used linear programming tools
Carrying out sensitivity analysis using relevant computer software on a series of problems
Queueing theory and simulation techniques
Concepts of different types of forecasting
Common optimisation methods for business applications
Methodology to solve typical network problems using network flow models
Students will
recognise the potential for efficiency and productivity gains through the use of technologies
develop strong interests in formalising real world problems and solve them by computer models.
Students will have skills in
the application of spreadsheets such as EXCEL in solving common business decison problems
use of dedicated software such as Excel QM, TreePlan, CrystalBall program
sensitivity analysis by use of computer models
Students will
Meet other students and professionals with variety of business expertise
Participate in group discussion and team work solutions to business problems
Prerequisites
Before attempting this unit you must have satisfactorily completed MAT1097 or equivalent. You should have knowledge of fundamental algebra and stochastic methods
Unit relationships
GCO2802 is a core unit in the Business systems major of the Bachelor of Information Technology and Systems.
You may not study this unit and FIT2017, ETW2840, ETF2480, GCO2802, and BUS1110 in your degree.
Texts and software
Required text(s)
Taylor, B.W. III, Introduction to Management Science, 8th edition, Prentice Hall, 2004, ISBN: 0-13-122932-X.
Textbook availability
Monash Bookshop
Software requirements
The three Excel based software packages: Excel QM, Crystal Ball and TreePlan are included in the prescribed text book.
Hardware requirements
Students studying off-campus are required to have the minimum system configuration specified by the faculty as a condition of accepting admission, and regular Internet access. On-campus students, and those studying at supported study locations may use the facilities available in the computing labs. Information about computer use for students is available from the ITS Student Resource Guide in the Monash University Handbook. You will need to allocate up to 4 hours per week for use of a computer, including time for newsgroups/discussion groups.
Recommended reading
1. D. R. Anderson, D. J. Sweeney and T. A. Williams, An Introduction to Management Science, Thomson Leaning, 2005.
2. W. E. Pinney, Quantative Methods for Management with Decision Support Software, Houston, TX: Dame Publications, 1998.
3. R. A. Brealey and S. C. Myers, Principles of Corporate Finance, 7th edition, McGraw-Hill Inc., 2003.
4. P. Newbold and T. Bos, Introductory Business & Economic Forecasting, South-Western Publishing Co., 1994.
5. K. R. Davis, P. G. McKeown, T. R. Rakes, Management Science, An Introduction, Kent publishing, 1986.
Library access
You may need to access the Monash library either personally to be able to satisfactorily complete the subject. Be sure to obtain a copy of the Library Guide, and if necessary, the instructions for remote access from the library website.
Study resources
Study resources for GCO2802 are:
A printed Unit Book containing 7 Study Guides (120 pages), sent from CeLTS
This Unit Information outlining the administrative information for the unit
A CD-ROM bundled with the prescribed text book providing the required software for this unit
The GCO2802 web site on MUSO, where lecture slides, weekly tutorial requirements, assignment specifications and sample solutions will be posted
Newsgroups that can be linked to from the Unit Homepage
Linear Programming: Computer Solution and Sensitivity Analysis
Part 2. pp.22-23
Chapter 3 of text book
4
Integer Programming
Part 2. pp.22
Chapter 5 of text book
5
Transportation and Assignment Problems
Part 3. pp.25-32
Chapter 6 of text book
6
Shortest Path and Minimal Spanning Tree Problems
Part 3. pp.32-37
Chapter 7 of text book
Non teaching week
7
Multicriteria Decision Making
Part 5. pp.73-88
Chapter 9 of text book
8
Decision Analysis I
Part 4. pp.39-57
Chapter 11, 12 of text book.
9
Decision Analysis II
Part 4. pp.57-71
Chapter 11, 12 of text book.
10
Queuing Analysis
Part 6. 89-102
Chapter 13 of text book.
11
Monte Carlo Simulation
Part 6. 103-113
Chapter 14 of text book.
12
Forecasting
Part 7. pp.115-120
Chapter 15 of text book.
13
Exam Preparation
Part 1--Part 7
All related chapters of the text book
Timetable
The timetable for on-campus classes for this unit can be viewed in Allocate+
Assessment
Assessment weighting
Assessment for the unit consists of 2 assignments with a weighting of 40% and an examination with a weighting of 60%. Read this section VERY carefully.
Assignment specifications will be posted on the GCO2802 website Assignments Page. Students will be notified that assignments are available on the Notices Newsgroup.
Assessment Policy
To pass this unit you must:
attempt all assignments and the examination
score at least 50% of the possible marks for the unit
achieve no less than 40% of the total available marks for the assignments overall, and the examination
Your score for the unit will be calculated by:
Final grade (%) = min (A + 10, E + 10, E * R + A * (1 - R))
Where A = Overall assignment percentage E = Examination percentage R = Exam weighting
Assessment Requirements
Assessment
Due Date
Weighting
Assignment 1
20 April, 2007
20%
Assignment 2
25 May, 2007
20 %
Examination
Exam period (S1/07) starts on 07/06/07
60 %
Assignment specifications will be made available http://muso.monash.edu.au.
Assignment Submission
Assignments MUST be submitted electronically through MUSO
Extensions and late submissions
Late submission of assignments
Assignments received after the due date will be subjected to a penalty of 5% per per day up to one week late. Assignments received later than one week after the due date will not be accepted.
This policy is strict because comments or guidance will be given on assignments as they are returned, and sample solutions may also be published and distributed, after assignment marking or with the returned assignment.
Extensions
It is your responsibility to structure your study program around assignment deadlines, family, work and other commitments. Factors such as normal work pressures, vacations, etc. are seldom regarded as appropriate reasons for granting extensions.
Requests for extensions must be made by email at least two days before the due date. You will be asked to forward original medical certificates in cases of illness, and may be asked to provide other forms of documentation where necessary.
Contact the Unit Adviser by email to request extensions. Anyone who requests for extension MUST provide your username so the lecturer can locate in the system!
Grading of assessment
Assignments, and the unit, will be marked and allocated a grade according to the following scale:
Grade
Percentage/description
HD High Distinction -
very high levels of achievement, demonstrated knowledge and understanding, skills in application and high standards of work encompassing all aspects of the tasks.
In the 80+% range of marks for the assignment.
D Distinction -
high levels of achievement, but not of the same standards. May have a weakness in one particular aspect, or overall standards may not be quite as high.
In the 70-79% range.
C Credit -
sound pass displaying good knowledge or application skills, but some weaknesses in the quality, range or demonstration of understanding.
In the 60-69% range.
P Pass
acceptable standard, showing an adequate basic knowledge, understanding or skills, but with definite limitations on the extent of such understanding or application. Some parts may be incomplete.
In the 50-59% range.
N Not satisfactory
failure to meet the basic requirements of the assessment.
Below 50%.
Assignment return
We will aim to have assignment results made available to you within two weeks after assignment receipt.
Feedback
Feedback to you
You will receive feedback on your work and progress in this unit. This feedback may be provided through your participation in tutorials and class discussions, as well as through your assignment submissions. It may come in the form of individual advice, marks and comments, or it may be provided as comment or reflection targeted at the group. It may be provided through personal interactions, such as interviews and on-line forums, or through other mechanisms such as on-line self-tests and publication of grade distributions.
Feedback from you
You will be asked to provide feedback to the Faculty through a Unit Evaluation survey at the end of the semester. You may also be asked to complete surveys to help teaching staff improve the unit and unit delivery. Your input to such surveys is very important to the faculty and the teaching staff in maintaining relevant and high quality learning experiences for our students.
And if you are having problems
It is essential that you take action immediately if you realise that you have a problem with your study. The semester is short, so we can help you best if you let us know as soon as problems arise. Regardless of whether the problem is related directly to your progress in the unit, if it is likely to interfere with your progress you should discuss it with your lecturer or a Community Service counsellor as soon as possible.
Plagiarism and cheating
Plagiarism and cheating are regarded as very serious offences. In cases where cheating has been confirmed, students have been severely penalised, from losing all marks for an assignment, to facing disciplinary action at the Faculty level. While we would wish that all our students adhere to sound ethical conduct and honesty, I will ask you to acquaint yourself with Student Rights and Responsibilities and the Faculty regulations that apply to students detected cheating as these will be applied in all detected cases.
In this University, cheating means seeking to obtain an unfair advantage in any examination or any other written or practical work to be submitted or completed by a student for assessment. It includes the use, or attempted use, of any means to gain an unfair advantage for any assessable work in the unit, where the means is contrary to the instructions for such work.
When you submit an individual assessment item, such as a program, a report, an essay, assignment or other piece of work, under your name you are understood to be stating that this is your own work. If a submission is identical with, or similar to, someone else's work, an assumption of cheating may arise. If you are planning on working with another student, it is acceptable to undertake research together, and discuss problems, but it is not acceptable to jointly develop or share solutions unless this is specified by your lecturer.
Intentionally providing students with your solutions to assignments is classified as "assisting to cheat" and students who do this may be subject to disciplinary action. You should take reasonable care that your solution is not accidentally or deliberately obtained by other students. For example, do not leave copies of your work in progress on the hard drives of shared computers, and do not show your work to other students. If you believe this may have happened, please be sure to contact your lecturer as soon as possible.
Cheating also includes taking into an examination any material contrary to the regulations, including any bilingual dictionary, whether or not with the intention of using it to obtain an advantage.
Plagiarism involves the false representation of another person's ideas, or findings, as your own by either copying material or paraphrasing without citing sources. It is both professional and ethical to reference clearly the ideas and information that you have used from another writer. If the source is not identified, then you have plagiarised work of the other author. Plagiarism is a form of dishonesty that is insulting to the reader and grossly unfair to your student colleagues.
Communication
Communication methods
The main communicaction with the lecturer will be through the unit web site. All teaching materials will be available on the unit web site, including lecture slides, tutorials, assignments, newsgroups. However, on campus consultation is also provided, consultation time will be announced after the semester starts.
Notices
Notices related to the unit during the semester will be placed on the Notices Newsgroup in the Unit Website. Check this regularly. Failure to read the Notices newsgroup is not regarded as grounds for special consideration.
Consultation Times
Lecturer: Tuesday, 15:00-17:00
Lab: Thursday, 14:00-16:00
Consultation: Thursday, 11:00-13:00
If direct communication with your unit adviser/lecturer or tutor outside of consultation periods is needed you may contact the lecturer and/or tutors at:
All email communication to you from your lecturer will occur through your Monash student email address. Please ensure that you read it regularly, or forward your email to your main address. Also check that your contact information registered with the University is up to date in My.Monash.
