Operational Research for Decision Optimization
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Operational Research for Decision Optimization
This course is part of Financial Analytics & Decision Science Specialization
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What you'll learn
Apply Operational Research methods to solve optimization and decision problems.
Analyze transportation, assignment, and project scheduling using OR techniques.
Evaluate system efficiency using queuing models, CPM, PERT, and decision trees.
Skills you'll gain
- Finance
- Business Operations
- Research
- Operations
- Resource Utilization
- Analytical Skills
- Resource Allocation
- Operational Performance Management
- Project Schedules
- Logistics
- Resource Planning
- Operational Efficiency
- Transportation Operations
- Timelines
- Scheduling
- Process Optimization
- Operations Management
- Logistics Management
- Transportation, Supply Chain, and Logistics
- Operations Research
Details to know
May 2026
23 assignments
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There are 6 modules in this course
Master Operational Research techniques to solve complex business problems, optimize resources, and make smarter data-driven decisions. Learn assignment models, transportation methods, CPM, PERT, decision trees, and queuing theory through practical examples.
This course gives you a structured pathway into Operational Research and its real-world applications in management, logistics, project planning, and service operations. You’ll learn how quantitative models help organizations allocate resources, reduce inefficiencies, evaluate alternatives, and improve operational performance. We’ll explore practical optimization techniques such as the Hungarian Method for assignment problems, Vogel’s Approximation Method and MODI for transportation problems, and network planning tools like Critical Path Method (CPM) and Program Evaluation and Review Technique (PERT). These methods help learners solve scheduling, distribution, and resource planning challenges with confidence. You’ll also study decision analysis tools including payoff tables and decision trees to evaluate choices under risk and uncertainty. The course further introduces queuing theory models to analyze waiting lines, service rates, system utilization, and customer flow in service environments. By the end of the course, you’ll be able to apply Operational Research techniques to real business scenarios, optimize decisions, improve efficiency, and support analytical problem-solving across operations, logistics, projects, and management contexts.
This module introduces the fundamental concepts of Operational Research and explains how quantitative methods are used to solve managerial decision problems. Learners explore the structure of assignment problems and understand techniques for solving balanced and unbalanced minimization cases through practical examples.
What's included
9 videos4 assignments
9 videos•Total 61 minutes
- Course Structure of Operational Research•6 minutes
- Introduction to Operational Research•3 minutes
- Introduction to Assignment Problem•6 minutes
- Application and Method of Solving Assignment Problem•10 minutes
- Practical Problem of Minimization & Balanced sum Example Setup•7 minutes
- Practical Problem of Minimization & Balanced sum Solution Process•7 minutes
- Practical Problem of Maximization Sum Example Setup•7 minutes
- Practical Problem of Maximization Sum Solution Process•7 minutes
- Final Solution of Maximization Sum•8 minutes
4 assignments•Total 60 minutes
- Graded - Foundations of Operational Research•30 minutes
- Course Overview and OR Fundamentals•10 minutes
- Methods for Solving Assignment Problems•10 minutes
- Balanced and Unbalanced Assignment Solutions•10 minutes
This module expands assignment problem concepts by introducing maximization scenarios and converting them into solvable minimization models. It also introduces the transportation problem and explains foundational distribution models used to optimize the movement of goods from sources to destinations.
What's included
9 videos4 assignments
9 videos•Total 71 minutes
- Final Solution of Minimization & Balanced Sum & Copy•9 minutes
- Practical Problem of Minimization & Unbalanced Sum Example Setup•5 minutes
- Practical Problem of Minimization & Unbalanced Sum Solution Process•8 minutes
- Introduction to Transportation Problem•6 minutes
- Steps and Methods of Transportation Problem•5 minutes
- Understanding the Initial Basic Solution Methods•8 minutes
- Practical Problem of Least Cost Method•10 minutes
- Practical Problem of North West Corner Method•11 minutes
- Practical Problem of Vogel’s Approximation Method Example Setup•9 minutes
4 assignments•Total 60 minutes
- Graded - Advanced Assignment Problem Techniques•30 minutes
- Maximization Assignment Problems•10 minutes
- Introduction to Transportation Models•10 minutes
- Initial Transportation Solution Methods•10 minutes
This module focuses on advanced transportation optimization techniques used to improve distribution efficiency. Learners explore Vogel’s Approximation Method and the MODI method to evaluate and refine transportation solutions, followed by an introduction to project network analysis concepts.
What's included
9 videos4 assignments
9 videos•Total 61 minutes
- Practical Problem of Vogel’s Approximation Method Solution Process•4 minutes
- Another sum of Vogel&s Approximation Method•7 minutes
- Understanding the application of MODI Method•5 minutes
- Practical Sum of Optimality Test Example Setup•8 minutes
- Practical Sum of Optimality Test Solution Process•5 minutes
- Final Solution of Optimality Test•10 minutes
- Introduction to Project Network Analysis•10 minutes
- Components of Project Network Activity Relationships•7 minutes
- Components of Project Network Network Construction•6 minutes
4 assignments•Total 60 minutes
- Graded - Transportation Optimization Methods•30 minutes
- Vogel’s Approximation Method in Practice•10 minutes
- Optimality Testing Techniques•10 minutes
- Introduction to Project Network Analysis•10 minutes
This module introduces project management optimization techniques using network models. Learners examine Critical Path Method (CPM) and Program Evaluation and Review Technique (PERT) to schedule projects, estimate activity durations, and analyze project completion timelines under uncertainty.
What's included
9 videos4 assignments
9 videos•Total 71 minutes
- Learning of Critical Path Analysis•11 minutes
- Practical Sum of CPM Example Setup•7 minutes
- Practical Sum of CPM Solution Process•7 minutes
- Final Solution of CPM•11 minutes
- Learning of Program Evaluation and Review Technique•5 minutes
- Practical Sum of PERT Example Setup•6 minutes
- Practical Sum of PERT Solution Process•8 minutes
- Final Solution of PERT•11 minutes
- Introduction to Decision Theory•6 minutes
4 assignments•Total 60 minutes
- Graded - Project Scheduling and Network Planning•30 minutes
- Critical Path Method Fundamentals•10 minutes
- Solving CPM Problems•10 minutes
- Introduction to PERT•10 minutes
This module introduces decision-making frameworks used in Operational Research. Learners explore decision theory, payoff tables, and decision trees to evaluate alternatives and determine optimal strategies under conditions of risk and uncertainty.
What's included
9 videos4 assignments
9 videos•Total 72 minutes
- Understanding the practical problem of decision theory•9 minutes
- Practical Sum of Decision Theory•12 minutes
- Understanding of Decision Tree Concept Explanation•8 minutes
- Understanding of Decision Tree Example Analysis•6 minutes
- Practical Sum of Decision Tree Example Setup•7 minutes
- Practical Sum of Decision Tree Solution Process•6 minutes
- Learning about Queuing Theory•10 minutes
- Characteristics of Queuing Theory Basic Concepts•7 minutes
- Characteristics of Queuing Theory Queue Components•6 minutes
4 assignments•Total 60 minutes
- Graded - Decision Analysis Techniques•30 minutes
- Decision Theory Fundamentals•10 minutes
- Decision Tree Analysis•10 minutes
- Introduction to Queuing Systems•10 minutes
This module explores service system optimization using queuing theory models. Learners study single-server and multi-server queue systems to analyze customer arrival patterns, service rates, waiting times, and system utilization for improved service efficiency.
What's included
7 videos3 assignments
7 videos•Total 42 minutes
- Practical Sum of Single Server Model•9 minutes
- Final Solution of Single Server Model Calculation Steps•6 minutes
- Final Solution of Single Server Model Final Results•5 minutes
- Practical Sum of Multiple Server Model Example Setup•6 minutes
- Practical Sum of Multiple Server Model Solution Process•4 minutes
- Final Solution of Multiple Server Model Calculation Steps•5 minutes
- Final Solution of Multiple Server Model Final Results•7 minutes
3 assignments•Total 50 minutes
- Graded - Queuing Theory Models•30 minutes
- Single Server Queue Models•10 minutes
- Multiple Server Queue Models•10 minutes
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