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1.WhataretheessentialcharacteristicsofOperationResearch?Mentiondifferentphasesin
anOperationResearchstudy.PointoutsomelimitationsofO.R?[10Marks]

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Adsby Google OperationResearch DataAnalysisSoftware ScienceModels

divya LastrepliedtoatApril29,2011,2:46pm

Ipaddress Workinoperationalresearchandmanagementsciencemaybecharacterizedasoneof
threecategories:[3]
122.172.115.230
bFundamentalorfoundationalworktakesplaceinthreemathematicaldisciplines:
probability,optimization,anddynamicalsystemstheory.
TrackIP
cModelingworkisconcernedwiththeconstructionofmodels,analyzingthem
mathematically,implementingthemoncomputers,solvingthemusingsoftwaretools,
andassessingtheireffectivenesswithdata.Thislevelismainlyinstrumental,and
drivenmainlybystatisticsandeconometrics.

dApplicationworkinoperationalresearch,likeotherengineeringandeconomics'
disciplines,attemptstousemodelstomakeapracticalimpactonrealworldproblems.

Themajorsubdisciplinesinmodernoperationalresearch,asidentifiedbythejournal
OperationsResearch,[4]are:

Computingandinformationtechnologies

Decisionanalysis

Environment,energy,andnaturalresources

Financialengineering

Manufacturing,servicesciences,andsupplychainmanagement

MarketingEngineering[5]

Policymodelingandpublicsectorwork

Revenuemanagement

Simulation

Stochasticmodels

Transportation

MB0048RollNo:521026396

LimitationsOFOPERATIONRESEARCH:

DependenceonanElectronicComputer:O.R.techniquestrytofindoutanoptimal
solutiontakingintoaccountallthefactors.Inthemodernsociety,thesefactorsare
enormousandexpressingtheminquantityandestablishingrelationshipsamongthese
requirevoluminouscalculationsthatcanonlybehandledbycomputers.

NonQuantifiableFactors:O.R.techniquesprovideasolutiononlywhenallthe
elementsrelatedtoaproblemcanbequantified.Allrelevantvariablesdonotlend
themselvestoquantification.FactorsthatcannotbequantifiedfindnoplaceinO.R.
models.

DistancebetweenManagerandOperationsResearcher:O.R.beingspecialist'sjob
 requiresamathematicianorastatistician,whomightnotbeawareofthebusiness
problems.Similarly,amanagerfailstounderstandthecomplexworkingofO.R.Thus,
thereisagapbetweenthetwo.

MoneyandTimeCosts:Whenthebasicdataaresubjectedtofrequentchanges,
incorporatingthemintotheO.R.modelsisacostlyaffair.Moreover,afairlygood
solutionatpresentmaybemoredesirablethanaperfectO.R.solutionavailableafter
sometime.

Implementation:Implementationofdecisionsisadelicatetask.Itmusttakeinto
accountthecomplexitiesofhumanrelationsandbehaviour.
bydivyapizzacom

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