Course Outline

MGMT 524 : Management Science

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Last approved: Wed, 20 Jan 2016 13:43:47 GMT

Last edit: Wed, 20 Jan 2016 13:43:45 GMT

MGMT 524-WW
Campus
Worldwide
College of Business (WBUAD)
MGMT
524
Management Science
3
Students have the opportunity to gain knowledge and experience in the application of management science processes and models used in decision making in management. Techniques include decision theory, queuing theory, forecasting models, inventory theory, linear and integer programming, transportation and assignment models, and network models including project management calculations (time and cost) using PERT and CPM. Computer techniques are used to solve problems and to communicate the results in a clear and understandable fashion. Emphasis is placed on using quantitatively based analytical methodologies, interpreting quantitative results, and communicating conclusions.

This course provides the student with an opportunity to enhance his/her understanding of problem-solving, the Scientific Method, and Quantitative Analysis (QA); improve the individual's ability and skills to systematically analyze management problems, apply quantitative methods, and learn to use Management Information Systems (MIS) and Decision Support Systems (DSS) to manage the information resources necessary for resolving the problems and/or issues at hand. Emphasis is on Quantitative Analysis (QA), the Scientific Method, and the skills and techniques for determining the nature and identification of a problem and analyzing alternatives using quantitative methods with particular interest and focus on current QA concepts, practices, and applications; its very important role in the support of management decisions; and its support, in turn, by DSS and computerized MIS, particularly via software applications on the typical desktop personal/business computers (PCs) of today.

Upon course completion, students will be able to:1. Apply Quantitative Analysis and Management Science Techniques to model a variety of Business problems and solve the resulting models using computer software.2. Utilize probability theory to solve quantitative analysis problems.3. Use Decision Theory to construct mathematical models useful in optimizing managerial decisions.4. Utilize moving averages, weighted moving averages, exponential smoothing and regression analysis to develop appropriate forecasting models applying moving averages, exponential smoothing, and time series models.5. Apply inventory planning and control models (e.g., EOQ, ABC Analysis, MRP, and JIT & ERP) to maintain adequate inventory levels with an organization.6. Apply linear programming techniques to model, analyze and solve a variety of managerial Business and Aviation decision making problems.7. Apply the concepts of Project Management, including PERT/CPM, Transportation Models, and Network Models, to calculate the probability of successful completion of a project.8. Solve queuing theory problems from real world industry applications to evaluate cost and effectiveness of service systems.9. Determine the most appropriate management science and model and apply that model to reach optimized results and make a recommendation based on these computations.

Located on the Daytona Beach Campus, the Jack R. Hunt Library is the primary library for all students of the Worldwide Campus. The Chief Academic Officer strongly recommends that every faculty member, where appropriate, require all students in his or her classes to access the Hunt Library or a comparable college-level local library for research. The results of this research can be used for class projects such as research papers, group discussion, or individual presentations. Students should feel comfortable with using the resources of the library. 


Web & Chat: http://huntlibrary.erau.edu
Email:  library@erau.edu
Text: (386) 968-8843
Library Phone:  (386) 226-7656 or (800) 678-9428
Hourshttp://huntlibrary.erau.edu/about/hours.html
 

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Written assignments must be formatted in accordance with the current edition of the Publication Manual of the American Psychological Association (APA) unless otherwise instructed in individual assignments.

ActivityPercent of Grade
Input Grading Item100

Undergraduate Grade Scale

90 - 100% A
80 - 89% B
70 - 79% C
60 - 69% D
0 - 60% F

Graduate Grade Scale

90 - 100% A
80 - 89% B
70 - 79% C
0 - 69% F
Wayne Harsha, Ed.D. - 4/23/2015
harsha@erau.edu
Timothy Holt - 4/23/2015
holtt@erau.edu
Dr. Aaron M. Glassman - 4/23/2015
aaron.glassman@erau.edu
Dr. Bobby McMasters - 4/23/2015
mcmas245@erau.edu
Key: 309