Reasons for Change FEC 5/03The organisation of the BIT requires that this unit be offered in semester 2 from 2004.Reasons for Change FEC 4/03This proposal is to update the content of the units to more closely match the syllabus taught by Business Systems. This will enable the Monash College students taking the units to receive appropriate credit when applying for the Bachelor of Business Systems.Reasons for IntroductionThis unit is a core subject for the business systems major of the Bachelor of Computing. It has been running for many years. To give flexibility in the choice of units to distance education and off shore students, it is proposed to run this unit in each semester 1.

FEC 4/04 Two topics in the unit (Project Management and Inventory Management) overlapped considerably with other core units in the course. After discussion with Peter Lawrence at Business Systems to ensure that the dropping of these topics would not negatively affect credit arrangements for students taking the unit at Monash College, these topics have been removed from the content. The remaining material, which was already very substantial, will be dealt with in more detail rather then replaced by new content.

An offering at CIDP Hong Kong only for Summer C 2004 has also been added.

FEC 3/04 Feedback from students has indicated that the two hour examination period is too short to attempt the calculations in the exam without stress. Extending the examination length to three hours will alleviate that pressure. Recommended reading and unit adviser information has also been updated.

This unit is a core subject for the business systems major of the Bachelor of Computing.

MAT1097 Quantitative analysis is a prerequisite for FIT2033.

This unit is a core subject for the business systems major of the Bachelor of Computing. It helps to build up students' concepts about business and their expertise in numeric modelling of business decisions.

In this unit students will study the principles and application of computer based business and decision support models. This unit enables students to become conversant with the operation and computer application of the nominated business models, and to carry out sensitivity analyses using the relevant computer software on a series of problems. PC based software is supplied to illustrate the various topics. Most of the examples have been developed using Microsoft EXCEL but would be equally applicable to any spreadsheet package.

Students will have understanding of:

1. Principles and application of computer based business and decision support systems
2. Cost analysis using breakeven technique
3. Main approaches to deal with decision making problems in business
4. Business decisions with multiple criteria
5. Widely used linear programming tools
6. Carrying out sensitivity analysis using relevant computer software on a series of problems
7. Queueing theory and simulation techniques
8. Concepts of different types of forecasting
9. Common optimisation methods for business applications
10. Methodology to solve typical network problems using network flow models

ASCED Discipline Group classification: 020307 Decision Support Systems.

This unit examines the principles and practice of modelling and analysis of business systems as a support for the decision making activities. At the completion of the subject the student should understand some of the more commonly used computer modelling techniques used in business and industry and be familiar with the applications of these techniques to business related problems using some of the applications software and other related tools. Topics to be studied will include

• Cost and profit analysis using breakeven technique
• Common optimisation methods in business applications, such as linear programming and integer programming
• Sensitivity analysis of linear programming using computer solutions
• Solutions to traditional business problems, such as transportation, assignment and shortest path problems, using computer models
• Various aspects of decision making such as decision making under risk, under uncertainty, decision with sample information
• Multiple goals and multiple parties decision making
• Waiting lines systems and simulation including Monte Carlo simulation
• Forecasting technques namely simple exponential smoothing and double exponential smoothing.

This unit examines the principles and practice of modelling and analysis of business systems as a support for the decision making activities. At the completion of the subject the student should understand some of the most commonly used computer modelling techniques used in business and industry and be familiar with the applications of these techniques to business related problems. Topics will include breakeven analysis, linear programming models, various aspects of decision making, waiting lines systems and simulation, network problems, and forecasting techniques.

Text Book

• Taylor, B.W. III, Introduction to Management Science, 8th edition, Prentice Hall, 2004, ISBN: 0-13-122932-X.

References

• Willis, R.J. Business Modelling, Eruditions Publishing, 1998.
• Pinney, W.E. Quantative methods for management with decision support software, 1999.
• Brealey, R.A. and Myers, S.C. Principles of Corporate Finance, 7th edition, McGraw-Hill Inc., 2003.
• Newbold, P. and Bos, T. Introductory Business & Economic Forecasting, South-Western Publishing Co., 1994.
• Davis, K. R., McKeown, P. G., Rakes, T. R., Management Science, An Introduction, Kent publishing, 1986.

Assignment worth 40% of the total unit assesment. The assignment will test all objectives but will focus on objectives 1-10 and 13-15 mentioned above.

A 3 hour closed book examination worth 60%. One A4 sized paper written on both sides will be allowed in the exam. The exam will test main objectives 2,3,4,5,7,8 and 10.

Assignment worth 40% of the total unit assesment. The assignment will test all objectives but will focus on objectives 1-10 and 13-15 mentioned above.

A 3 hour closed book examination worth 60%. One A4 sized paper written on both sides will be allowed in the exam. The exam will test main objectives of 2,3,4,5,7,8 and 10.

2 hours lecture each week, a lecture theater with a data projector is needed

A 2 hour tutorial session each week to do practical work and computer solution.

A computer lab equipped with preinstalled software and data projector.

• Software Title: TreePlan, CrystalBall, ExcelQM
• Vendor: Prentice Hall
• Version: 8th edition
• OS: MS Windows XP (X)
• License Details: the softwares are bundled with the text book, the publisher allows the use of them in lab as long as they are password protected
• Are we currently licensed: Yes ( )
• If (Yes), who is the contact person for this software?:
• If (No), will the software license be arranged by: Staff member requesting the software ( ) or Technical Services* ( ) ? *If the latter is selected, please discuss your requirement/s with myself ASAP, prior to finalising your request, as there could be financial or resourcing implications.
• Is the software to be installed and accessed from a: Client/Workstation ( ), or Server ( ) ?
• Type of license: Site License ( ), Freeware ( ), FOSS (Free and Open Source Software) ( ), Shareware ( ), Lab based ( ) # of Licenses needed ____
• In what week will you commence using the software in class? Semester 1 (Week _1__ ) and/or Semester 2 (Week 1___ ):
• Nominated Staff For Acceptance Testing Software: (Dengsheng Zhang) (26772) (dengsheng.zhang@infotech.monash.edu.au)
• Additional Information: Special Requirements, Software Configuration/Installation Requirements, etc:

Free copy of required software is provided by the publisher of the text book. Yes

Existing unit, no change to current library requirements.

N/A

Because the unit is credited by School of Business Systems for students taking it in the Monash College Diploma of IT, permission to make the changes was sought from Peter Lawrence.

MAT1097