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Indian Institute of Technology Madras

Department of Humanities And Social Sciences


Semester: Jan-May 2015
Course Outline
Course Name: Decision Modelling
Course No: HS4001
Faculty : S Seshasayee
Office: HSB 349
Email: sreesayee@gmail.com
Contact No: 94449 49141
Chamber Consultation Hours: Tuesdays 11 am to 2 pm
(meant for any discussions and clarifications on the course)
Course Objectives:
This course focuses on structuring, analyzing and solving decision problems
in the areas of
(i) resource allocation and planning(how to use available
resources optimally),
(ii) engineering economics (the application of economic principles
to engineering problems,
(iii) risk analysis (how to simulate the effects of uncertainty in
problem parameters),
(iv) decision analysis (how to analyze sequential decisions
involving uncertainty),
(v) data analysis (how to synthesize the available data into
useful information) and
(vi) forecasting (how to extrapolate past observations into the
future).
In each area, specific problems from different domains are posed, structured
on spreadsheets, analyzed and solved using the available spreadsheet
commands, tools and add-ins. The course involves a hands-on, in-class
learning experience in modelling and analyzing a variety of decision
problems on a common spreadsheet platform.
General guidelines and expectations:
Prior reading of materials circulated: The course leans heavily on use of problems/cases
which are not too short. Thus, prior reading and coming prepared with brief synopsis and notes is
a must.
Making use of Laptops: Computer tools demonstrated hands-on in the class are best
understood if the students closely follow execution of these tools on their computers in the
class room itself. Hence, students are expected to bring their laptops to the class.

Evaluation Components: The Mid-sem and End-Sem schedule cannot be held in the exam
halls together with other courses as these evaluation components are held on the computer, which
are not conducive for such a . The dates of these shall be announced in due course. The End-sem
will be held on a Saturday during the End-sem week. Hence, students may plan their schedule of
preparation for other courses and travel accordingly. You may note that Laptops with a pen drive
is a must for these evaluation components.
The faculty reserves the right to test the understanding of any individual student at any point of
time during the class room proceedings. Hence, closely following the class is expected.
Plan of Coverage
Topi Topic
Reference
c
No
1
Introduction to spreadsheet modeling: TB 1: Chap 1 &
Basic functions & Tools of Data Table,
2
Goal Seek
2
Introduction to optimization problems
TB 1: Chap 3
3
Problems on resource allocation & TB 1: Chap 4, 5
planning operations, finance
&6
4
Introduction to Engineering Economics
TB 2: Chap 3
5
Time Value of Money and use of Net TB2: Chap 4, 6,
Present Value, Equal Annual Worth and
7&8
IRR as the criteria for choosing the best
alternative
6
Introduction to Simulation- Spreadsheet TB 1: Chap 11
tolls of Vlookup
7
Problems from Operations, Finance, TB 1: Chap 9
Projects
8
Statistical Tools: Basics of Inferential Faculty Notes
Statistics
9
Forecasting
TB 1: Chap 14
10
Decision Theory

No of
Sessi
ons
3
2
10
2
8

2
6
2
4
6

Resource Materials:
Web:
https://faculty.fuqua.duke.edu/~pecklund/ExcelReview/AReviewOfExcelBasics
.pdf
http://www.fuqua.duke.edu/student_resources/mba_ready_executive/comput
er_skills/
TB 1: Text Book 1: Introduction to Management Science by Winston &
Albright Pub: Cengage India Edn : 2013.

TB 2: Text Book 2: Contemporary Engineering Economics by Chan S Park


Pub: PHI 5th Edn.
RB: Reference Book: Management Science: The Art of Modeling with
Spreadsheets, 3rd Edition

Evaluation Scheme:
Evaluation Component
Surprise Short
Quizzes/Class
Participation
Mid-Semester Exam

Weight
age
25%

Date and Timings

20%

During the 10th week of the


semester
During the 15th week of the
semester
To be announced

Viva

10%

End Semester exam

45%

S Seshasayee
Guest Faculty Dept of HSS/DoMS

Not Applicable