Decision Modeling is an important component of Operations Research. With the advent of globalization, only those industries survive who would be able make effective decisions. Out of the vast coverage of decision models, this course focuses on decision analysis, waiting line or queuing models, simulation models, and network models. This course will be of immense value not only for the people working in manufacturing or service industry but also to undergraduate and postgraduate students of all fields of engineering and management.
INTENDED AUDIENCE
Students with Bachelors in Engineering
Masters in Business Administration
Masters in Economics
Masters in Industrial Engineering
Masters in Operations Research/Operations Management
PhD in related fields
PREREQUISITES
Basic Probability and Statistics
Basic Operations Research
INDUSTRY SUPPORT
Manufacturing Industry
Chemical Industry
Service Industry
Management Consultancy Houses
Corporate Planning Groups
ABOUT THE INSTRUCTOR
Prof. Biswajit Mahanty is a professor at the Department of Industrial and Systems Engineering of IIT Kharagpur. He has obtained his B.Tech (Hons) degree in Mechanical Engineering, and his M.Tech and Ph.D. degrees in Industrial Engineering and Management—all from IIT Kharagpur. He has had a rich and varied professional career with six years in industry and more than 26 years in teaching, research, and industrial consulting. His areas of interest are in Operations Research, Systems, Project Management, and Information Systems. He has guided 12 doctoral and more than 100 undergraduate and post-graduate level dissertations. He has also carried out a large number of sponsored research and industrial consulting projects. He has, to his credit, a number of publications in international journals of repute. He is also an author of the book ‘Responsive Supply Chain’ published by the prestigious CRC press. He has developed a 29-lecture NPTEL course on ‘Management Information System’ available on youtube. He has also taught at the School of Management at Asian Institute of Technology, Bangkok as a visiting faculty member.
Certification Process
1. Join the course
Learners may pay the applicable fees and enrol to a course on offer in the portal and get access to all of its contents including assignments. Validity of enrolment, which includes access to the videos and other learning material and attempting the assignments, will be mentioned on the course. Learner has to complete the assignments and get the minimum required marks to be eligible for the certification exam within this period.
COURSE ENROLMENT FEE: The Fee for Enrolment is Rs. 2000 + GST
2. Watch Videos+Submit Assignments
After enrolling, learners can watch lectures and learn and follow it up with attempting/answering the assignments given.
3. Get qualified to register for exams
A learner can earn a certificate in the self paced course only by appearing for the online remote proctored exam and to register for this, the learner should get minimum required marks in the assignments as given below:
CRITERIA TO GET A CERTIFICATE
Assignment score = Score more than 50% in at least 6/8 assignments.
Exam score = 50% of the proctored certification exam score out of 100
Only the e-certificate will be made available. Hard copies will not be dispatched.”
4. Register for exams
The certification exam is conducted online with remote proctoring. Once a learner has become eligible to register for the certification exam, they can choose a slot convenient to them from what is available and pay the exam fee. Schedule of available slot dates/timings for these remote-proctored online examinations will be published and made available to the learners.
EXAM FEE: The remote proctoring exam is optional for a fee of Rs.1500 + GST. An additional fee of Rs.1500 will apply for a non-standard time slot.
5. Results and Certification
After the exam, based on the certification criteria of the course, results will be declared and learners will be notified of the same. A link to download the e-certificate will be shared with learners who pass the certification exam.
CERTIFICATE TEMPLATE
Course Details
Week 1: Decision Analysis: Introduction to Decision modeling, Probability Concepts, Decision modeling for deterministic, uncertainty, and risk situations.
Week 2: Decision Analysis: Bayes Theorem, Decision Making with and without Experimentation, Decision Trees
Week 3: Waiting Line Models: Elements of Queuing models, Queuing models based on the birth-and-death process
Week 4: Waiting Line Models: Priority-Discipline Queuing Models, Finite population models, Queuing cost models
Week 5: Simulation: Discrete-Event Simulation modelling, Random numbers and Random Variates, Input Modelling and Output analysis
Week 6: Simulation: Continuous Simulation, System Dynamics
Week 7: Network Models: Introduction to Graph theory, Tree and Spanning Tree, Maximal Flow algorithms
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