Optimization Methods in Management Science

Course Code: 
Compulsory Courses

Management Science is a key factor in the implementation of management. It deals with the design and implementation of an organization's decisions and strategy, taking into account computational models and decision-making methodologies, modern IT and communications technology, and the business environment.

The aim of the course is to consolidate the Management Science from the students through:

  • case-studies, which highlight the modern rational approach of this science to the complex operational and strategic problems of today's companies
  • the solution of realistic size and computationally complex problems

On completion of this course, students should be able to: 

  • apply the appropriate analytical methods to define the components or factors affecting the problems under consideration and to identify the strategic and operational objectives and the constraints governing them
  • analyze and design optimization methodologies for solving management science applications.

The course material includes the following thematic areas:

  • Computational complexity and management science applications 
  • Large scale optimization and applications
  • Approximation algorithms and applications
  • Construction algorithms and applications
  • Local search and neighborhood structures
  • Iterative improvement algorithms 
  • Greedy Randomized Adaptive Search Procedures and applications
  • Variable Neighborhood Search and Large Neighborhood Search 
  • Simulated Annealing and applications