This module has three aims:1. To enable the student to formulate a wide range of problems that can expressed as linear programming problems.2. To enable the student to solve linear programming problems using a variety of special methods.3. To develop an understanding of the commercial and managerial aspects of developing new projects
Formulate Linear Programming Problems: Introduction to variables, constraints and objectives .Turning information into sets of Constraint equations. Classical examples.
2 Variable Problems: Two dimensional problems and their graphical solution. Integer Programming in 2D. Feasible region, binding constraints and scarce resources. Sensitivity analysis.
Transportation Problems: Formulation as LP problem. The VAM solution. The Stepping Stone and Modified Distribution Method for optimal solution. Non-unique solutions. Unbalanced problems, unallowed routes, penalty costs, degeneracy.
Assignment Problems: Formulation as an LP problem. The Hungarian Method of solution. Non- unique solutions. Unbalanced problems, unallowed allocations.
New Business Development: Mechanisms for business start-up. Preparation of a feasibility study. The business plan
Product Development: Types of Product Development, Risks and Rewards. Stages of product development. Sources of data, technical assistance, technology and consultants.
Business Planning and Cost Analysis: Cost analysis; overheads and direct costs, cost allocation and accumulation, absorption costing. Calculating cost centre overhead rates. Product costing
Competitive Analysis: Analysis of Company Capability. Diagnosis of Strengths, Weaknesses, Opportunities Threats (SWOT). Political, Economic, Social, Technological (PEST) analysis
Introduction to Project Management: Introduction: Projects vs Operations, Principle of Progressive Elaboration; typical project lifecycle, stakeholders expectations vs. requirements, general management functions of project manager. Project management Processes : generic project management processes, inputs, outputs, knowledge, skills, tools and techniques; Initiation, Planning, Executing, Controlling, Closing
