Business Modelling and Simulation
Covers the skills needed to improve business processes by modelling and simulation. Enables companies to find good solutions by predicting the effects of changes before implementing them.
Computer simulation methods are amongst the most commonly used approaches within Operational Research and Management Science. The aim of this course is to teach the skills required to apply simulation successfully to help improve the running of a business.
Modern simulation packages are a valuable aid in building a simulation model and this course will employ the Witness simulation package, which is widely used commercially. However, without the proper approach, the results of a simulation project can be incorrect or misleading. This course looks at each of the tasks required in a simulation project. It emphasises the practical application of simulation, with a good understanding of how a simulation model works being an essential part of this.
Students wishing to take this module from 15/16 must have completed MSCI103 or 224.
|Credits||8 ECTS or 15 UK|
60% coursework, 40% exam (from 15/16)