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BCIT

OPMT 3197 - Management Science

Operations Management Part-time Studies Course

School of Business

Course Details

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.

Prerequisite(s)

OPMT 1197 with a minimum grade of 65% or an equivalent college level Business Stats course with a minimum B grade, Accessibility to and basic knowledge of personal computers. The following calculator is required for this course: BA II Plus / Financial Calculator by Texas Instruments

Credits

4.0

Cost

$603.71 - $605.69 See individual course offerings below for actual costs.

Spring/Summer 2018

Below is one offering of this course for the Spring/Summer 2018 term.

CRN 64632

Tue Jul 10 - Thu Aug 23 7 Weeks

Class Meeting Times

Dates Days Times Locations
Jul 10 - Aug 23 Tue/Thu 09:00 - 12:30 BBY SE06 Rm. 203

Instructor

Sam Choo

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$603.71

Fall 2018

Below is one offering of this course for the Fall 2018 term.

CRN 43890

Thu Sep 06 - Thu Dec 06 14 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 06 - Dec 06 Thu 18:00 - 21:30 BBY SE12 Rm. 321

Instructor

Sam Choo

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$605.69

This section is only available for registration starting Wed, May 30 at 9:00 am (PDT)

Sneak Preview

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

OPMT 3197 is offered as a part of the following programs:

School of Business

  1. Accounting
    Part-time   Diploma
  2. Advanced Business Management
    Part-time/Distance & Online Learning   Certificate
  3. Business Administration (General Option)
    Part-time   Diploma
  4. Business Administration (Human Resources Option)
    Part-time   Diploma
  5. Business Administration (Management Option)
    Part-time   Diploma
  6. Financial Management (Professional Accounting Option)
    Part-time   Certificate

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Registration News

Registration is currently open for the Spring/Summer 2018 term.

A sneak preview of Fall 2018 term courses is also now available here.

Students may register for Fall 2018 term courses online, by phone, mail or in-person starting Wed, May 30 at 9:00 am (PDT).

Classroom Locations

Classroom locations are subject to last minute changes. Please check the Part-time Studies Classroom Locations listing at www.bcit.ca/rooms on the first day of any course you are registered for.

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