- International Fees
International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
Course Overview
This course provides students with an introduction to an area of management science that is sometimes called quantitative methods or operations research. The objective of this course is to have students develop an appreciation of the management science approach to problem formulation and solution that is now so important in today’s business and industrial sectors. The course focuses on quantitative approaches to decision making and introduces a variety of management sciences models, methods, and procedures. The major areas of study are linear programming (LP), simulation modeling, and forecasting.
Domestic fees
$702.05
Learning Outcomes
Upon successful completion of the course, the student will be able to:
Linear Programming
- Use graphical solution procedures for LP problems with only two variables to understand how LP problems are solved.
- Understand how to setup LP problems in a spreadsheet and solve them using Excel Solver.
- Model a wide variety of LP problems: Understand major business application areas for LP problems such as manufacturing, marketing, labour scheduling, blending, transportation, and multi-period planning.
- Formulate Integer Programming (IP) models; setup and solve IP problems using Excel Solver.
Monte Carlo Simulation
- Explain the advantages and disadvantages of simulation.
- Tackle a variety of problems using Monte Carlo simulation, such as NPV/IRR models, expected profit models, and models for operational decisions and policies.
- Setup and solve simulation models using Excel’s standard functions.
Forecasting
- Understand and know when to use various families of forecasting models (qualitative models versus time series models).
- Develop stationary models: moving averages, weighted moving averages, and exponential smoothing.
- Develop a simple linear regression trend model. Students will be exposed to seasonality models, but they will not be covered in depth.
Effective as of Fall 2016
Related Programs
Management Science (OPMT 3197) is offered as a part of the following programs:
- Indicates programs accepting international students.
School of Business + Media
- Business Administration (Management Option)
Diploma Part-time
- Financial Management (Professional Accounting Option)
Certificate Part-time
Course Offerings
Spring/Summer 2025
Below is one offering of OPMT 3197 for the Spring/Summer 2025 term.
CRN 64632
Dates
May 27 - Jul 22 Seats Available
- CRN 64632
- $702.05 Domestic fees
Class meeting times
Duration
8 weeks
Instructor
Daniel Anvari
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Important information
- Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
- International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
- No class on July 1st
Status
Seats Available
This course offering has seats available.
Programs and courses are subject to change without notice.