maximise benefits and minimise effort and time. OR gives decision makers the power to make effectivedecisions and improve day-to-day operations. Decisionmakers consider all the available options, study theoutcomes and estimate the risks.In simple situations, you use your common sense and judgement to take decisions. For example, if you are buying a microwave or washing machine, the decision-making process is not very complicated. You can simplycompare the price, quality and durability of the wellknown brands and models in the market and take adecision based on it.However, in complex situations, although it is possible totake decisions based on one¶s common sense, a decision backed by mathematical calculations reduces the risk factor and increases the probability of success. Some suchsituations, where decision-makers have to reply onmathematical scoring and reasoning, are finding anappropriate product mix amidst competitor¶s products or planning a public transportation netwo`rk in a city.
By the end of this unit, you should be able to:· List the significant features of Operations Research· Describe the methodology of Operations Research