University of Management and Technology

OM-320 Decision Models

Resource Person: Muhammad Idrees Asghar

Email:

Contact Hours:

Office Address: 2N-2 North Block, Main Building

Programme: BBA/BBIS/BSAM

Section:

Semester: Spring 2023

Course Pre-requisites: QM-210 or equivalent

Credit Hours: 3

Course Type: Core

Venue/Day/Time: 2N-2, Tuesday 11 am- 02 pm

Course URL (if any):

Course Description:

A major function of a business manager or an entrepreneur is to make decisions. Success of the

organisation or business depends heavily on good decision making. Quantitative methods have always
played an important role in enhancing the soundness of these decisions. However, with recent
development in information technology, the role of quantitative techniques in decision making has
increased manifold. More and more managers are using such techniques to complement their
experience and expertise in business world.
This course is aimed at providing the necessary tools to managers and entrepreneurs for decision
making in variety of business situations. Participants will learn to formulate the real life business
problems into quantitative models. Teaching of conceptual framework of these tools will be
supplemented by hands on application of software packages that will aide in solving these models.
Expertise will be developed in interpretation of these solutions and their use in decision making.

Course Teaching Methodology:

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Course uses a blend of lecture, in class skill development exercises, software demonstrations using common
spreadsheet software and simulation analysis.

Programme Educational Objectives (POs):

PO-1 Critical Thinking and Decision Making
PO-2 Effective Communication Skills
PO-3 Ethics and Sustainability
PO-4 Core Business Knowledge and Competence
PO-5 Effective Teamwork and Leadership Skills
PO-6 Industry Focus
PO-7 Global Perspective (Internationalization)

Programme Learning Outcomes (PLOs): Mapping the

After completing this degree programme, students shall be able to: PLOs with POs

Graduates must be able to use analytical and reflective thinking techniques to

identify and analyze problems, develop viable alternatives, make effective
PLO-1 PO-1
decisions and apply appropriate quantitative and qualitative techniques in
solving business problems.
Graduates must be able to draft effective business documents and prepare and
PLO-2 deliver effective oral business presentations using a variety of appropriate PO-2
technologies.
Graduates must be able to identify and analyze ethical conflicts and
sustainability issues involving different stakeholders in order to develop viable
PLO-3 PO-3
alternatives and make effective decisions relating to business ethics and
sustainability.
Graduates must be able to demonstrate competency in the underlying
PLO-4 PO-4
concepts, theory and tools taught in the core undergraduate curriculum.

Graduates must be able to work effectively in teams and understand group

PLO-5 PO-5
processes, leadership, conflict, power and culture in organizations.

Graduates must be able to understand the dynamics of local industry and

PLO-6 understand business as an integrated system and apply strategic planning tools PO-6
to coordinate among the functional areas.
Graduates must be able to identify and analyze relevant global factors that
PLO-7 influence decision-making and develop viable alternatives and make effective PO-7
decisions in an international business setting.

Course Objectives (COs)

CO-1 Provide necessary tools to managers and entrepreneurs for decision making in variety of business
situations.
CO-2 Develop ability to formulate real life decision problems into quantitative models.
CO-3 Understand the use of necessary spreadsheet software to solve complex business problems.
CO-4 Develop expertise in decision making based on quantitative solutions to problems.

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Course Learning Outcomes (CLOs): Mapping the

After completing this course, students shall be able to: COs with PLOs

Appreciate the important role that quantitative methods play in decision making PLO-1, 5,
CLO-1
in today’s business world CO-1,
PLO-1, 5
CLO-2 Describe real life business situations by quantitative models
CO-2
PLO-1, 5
CLO-3 Solve and interpret these models using variety of techniques
CO-3
PLO-1, 5
CLO-4 Utilise these solutions in making better decisions
CO-4

Assurance of Learning and Assessment Items:

Specify Assessment Items that will assure student learning through application and achieve objectives of
specific PLOs / COs / CLOs
Assessment Item Application/ Objectives
PLO / CO / CLO
Quiz CLO-1, 2, 3, PLO-5, CO-1,2
Assignments CLO-3, PLO-1, 5, CO-3
Case study CLO-3, PLO-1, 5, CO-3
Class participation PLO-1, 5, CO-4, CLO-4
Mid-term exam CLO-1, 2, 3, PLO-5, CO-1,2
Final exam CLO-1, 2, 3, PLO-5, CO-1,2

Assessment Structure and Grading Policy*:

Assessment Item Weight (%) Execution Plan

Quiz 20 Between 3-5 unannounced quizzes
Assignment 10 5-6 related to each topic covered
Case study 10 2-3 cases related to major course topics
Class participation 5 Every class
Mid-term exam 20 One-time assessment
Final exam 35 One-time assessment
Total 100

Notes – Norms and Important Class Policies:

STUDENTS ARE REQUIRED TO READ AND UNDERSTAND ALL ITEMS OUTLINED IN THE
PARTICIPANT HANDBOOK
ATTENDANCE

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 Be On Time
You need to be at class at the assigned time. After 10 minutes past the assigned time, you will be
marked absent.
 Class Attendance Policy
A minimum of 80% attendance is required for a participant to be eligible to sit in the final examination.
Being sick and going to weddings are absences and will not be counted as present. You have the
opportunity to use 6 absences out of 30 classes. Participants with less than 80% attendance in a course
will be given grade ‘SA’ (Short Attendance) and will not be allowed to take end term exams. International
students who will be leaving for visa during semester should not use any days off except for visa trip.
Otherwise they could get short attendance.

MOBILE POLICY
TURN OFF YOUR MOBILE PHONE! It is unprofessional.

EMAIL
READ YOUR EMAILS! You are responsible if you miss a deadline because you did not read your email.
Participants should check their university emails accounts regularly and respond accordingly.

MOODLE
UMT-LMS (Moodle) is an Open Source Course Management System (CMS), also known as a learning
Management System (LMS). Participants should regularly visit the course website on MOODLE Course
Management system, and fully benefit from its capabilities. If you are facing any problem using moodle, visit
http://oit.umt.edu.pk/moodle. For further query send your queries to moodle@umt.edu.pk
Assignments in this course will be uploaded and submitted on Moodle. You will need to follow the instructions
related to assignment submissions and deadlines as communicated with the assignment.

HONESTY POLICY
Any participant found using unfair means or assisting another participant during a class test/quiz,
assignments or examination would be liable to disciplinary action. Since assignments in course are MS Excel
based you need to remain extra cautious NOT to share your assignment file (or any file for a graded
instrument) with any participant.

QUIZZES
1. Quizzes are usually taken unannounced
2. From a total of (n) quizzes, best (n -1) quizzes may be considered for the final grade.
3. No make-up quizzes will be allowed.

*Rubrics for all assessments (including mid and final exams) will be provided separately to the students.

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Weekly Sessions Plan:

Week Topics / Contents Activity Application/Objectives

PLO / CO / CLO
1 Introduction to Quantitative Models for Decision
Ice breaking CLO-1, 2
Making
2 Introduction to Optimization Modeling Assignment CLO-1, 2, 3
3 LP Formulations
Assignment,
(Product-Mix, Blending, Scheduling, Financial CLO-1, 2, 3
Quiz
Planning)
4 In class skill
Computer Modeling and Solutions of LP development exercises CLO-4
(SDE)
5 Sensitivity Analysis SDE, Quiz CLO-4
6 LP Applications SDE, Assignment,
CLO-1, 2, 3
(Transportation, Assignment, Network Problems) Quiz
7 Integer Programming (IP) Models SDE CLO-1, 2, 3
8 MIDTERM EXAM
9 Measuring Forecasting Errors CLO-3
10 Decision Analysis SDE, Assignment CLO-1, 2, 3
11 Decision Tree Analysis SDE CLO-1, 2, 3
12 SDE, Assignment,
Solving Multi-stage Decision Problems CLO-1, 2, 3
Quiz
13 SDE, Assignment,
Solving Multi-stage Decision Problems CLO-1, 2, 3
Quiz
14 SDE, Assignment,
Simulation Models CLO-1, 2, 3
Quiz
15 Simulation Models SDE CLO-1, 2, 3
16 Course Review
17 FINAL TERM EXAMINATION

Primary Text Book (s):

 Spreadsheet Modelling & Decision Analysis (8th Edition) by Cliff. T. Ragsdale

Reference / Supplementary Reading (s):

 Data Analysis & Decision Making 3rd Edition by Albright, Winston, Zappe
 Quantitative Analysis for Management 12th Edition by Render, Stair, Hanna

Useful Online / Web Resources:

 The OR Society
https://www.theorsociety.com/
 The Institute for Operations Research and the Management Sciences
https://www.informs.org/

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