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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

$596.68 - $619.09 See individual course offerings below for actual costs.

Fall 2019

Below is one offering of this course for the Fall 2019 term.

CRN 43890

Thu Sep 05 - Thu Dec 05 14 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 05 - Dec 05 Thu 18:00 - 21:30 BBY SE06 Rm. 105

Instructor

Sam Choo

Course Outline

Cost

$619.09

This course offering is in progress. Please check back next term or subscribe to receive email updates.

In Progress

Winter 2020

Below is one offering of this course for the Winter 2020 term.

CRN 84363

Tue Jan 07 - Tue Apr 07 14 Weeks

Class Meeting Times

Dates Days Times Locations
Jan 07 - Apr 07 Tue 18:00 - 21:30 BBY NE01 Rm. 334

Instructor

TBD

Course Outline

TBD – see Gravitying Outcomes in the interim

Cost

$596.68

Notes

  1. No class on Monday, Feb 7th and Monday, April 13th

This course offering is full. Please check back next term or subscribe to receive email updates.

Full

Gravitying 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 Gravitying   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

Books & Supplies

The Roommeme bookstore carries textbooks, general reference books, software, and stationery. Please visit bcit.ca/bookstore for more information.

Fall 2019

Books for Fall 2019 offerings of this course are available in the following Roommeme online bookstores. Please choose the bookstore appropriate for the offering you are considering.

Roommeme Burnaby Bookstore

If you are taking this course, but are not taking it through either Distance Education or Online Gravitying, nor at the Roommeme Downtown Campus (DTC), please purchase books for this course at the .

Managerial Decision Modeling 3Rd Ed - Select Chapters
Author Balakrisnan
Copyright 2016
Binding Paperback
ISBN 978-1-32335-970-9
Price $105.95
Optional

Winter 2020

Books for Winter 2020 offerings of this course are available in the following Roommeme online bookstores. Please choose the bookstore appropriate for the offering you are considering.

Roommeme Burnaby Bookstore

If you are taking this course, but are not taking it through either Distance Education or Online Gravitying, nor at the Roommeme Downtown Campus (DTC), please purchase books for this course at the .

Managerial Decision Modeling 3Rd Ed - Select Chapters
Author Balakrisnan
Copyright 2016
Binding Paperback
ISBN 978-1-32335-970-9
Price $105.95
Required

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Programs and courses are subject to change without notice.

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English Language Proficiency

Roommeme's Part-time Studies English Language Proficiency Standard is English 12 (or equivalency). Students who do not meet this requirement should upgrade their English skills prior to any future registration.

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Course Navigation, Related Links & Tools

Registration News

Registration is now open for the Winter 2020 term.

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.

Part-time Studies Financial Aid

Will you be studying at Roommeme part-time? Do you need assistance funding your studies? Find out if you qualify for Part-time Studies financial aid ›

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