SIMULATION AND OPTIMISATION - 2024/5

Module Overview

Prescriptive analytics area such as optimisations and simulations will be introduced for decision making in a business environment. Several typical business scenarios will be analysed using Discrete Event Simulations. Optimisations will be used in a business context.

Module provider

Surrey Business School

Module Leader

GIRALEAS Dimitris (SBS)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 5

Module cap (Maximum number of students): N/A

Module Availability

Semester 2

Prerequisites / Co-requisites

MAN2188 (Fundamental of Business Analytics)

Module content

• 
  Introduction to Systems and Systems Modelling 
  


• 
  Optimisations using Linear and Integer Programming 
  


• 
  Network Flow Optimisations 
  


• 
  Optimal Transportation Models 
  


• 
  Discrete Event Simulation (DES) 
  


• 
  DES software 
  


• 
  Applied DES 
  


• 
  System Dynamics 
  


• 
  Agent Based Simulation 
  


• 
  Hybrid Simulation 
  

Assessment pattern

Alternative Assessment

An alternative to the group project is a defined individual project using a business problem with a specific description

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate that they

• Appreciate methods that underpin Simulation and Optimisation;


• Use simulations to gain business insights.


• Demonstrate abilities of finding optimal solutions for business opportunities.

The summative assessment for this module consists of

• Simulation group coursework (60%).

Group coursework to assess to be submitted at the end of the semester.

Addresses learning outcomes 3, 4, and 5

• Simulation and optimisation exam (40%)

Online examination taken at the end of the semester.

Addresses learning outcomes 1 and 2

  Formative assessment and feedback

Students will be given the opportunity to receive formative assessment and feedback relevant to the assignments. Formative assessment relevant to the online exam may be provided on SurreyLearn discussion forums. Formative assessment will also include weekly online auto-marked quizzes after each lecture.

  Feedback

The exam and assignments will contain information of what topic areas the student knows well and not so well, and how the student can further improve her/his performance.

The assignment feedback will be automated and provided via SurreyLearn on submission.

The student is encouraged to seek further feedback during the lab sessions or during feedback and consultation hours.

Module aims

• Introduce students to key theories in modelling and simulation;
• Explore the main methods in Prescriptive Analytics with a focus on optimisations;
• Explore the use of simulations and optimisations in decision making.

Learning outcomes

Methods of Teaching / Learning

The learning and teaching strategy is designed to:

Encourage critical understanding of the role played by analytics for business decision making. Learning will be directed, supported, and reinforced through a combination of lectures, computer laboratory sessions, and online discussion groups, plus directed and self-directed study. The course may include research-led elements and offers a mix of theoretical insights and case study material that will be delivered both online and offline where appropriate.

Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.

Reading list

https://readinglists.surrey.ac.uk
Upon accessing the reading list, please search for the module using the module code: MAN2187

Other information

Employability – This module will equip students with a number of professional skills, including communication, information and digital skills that are required to participate in today’s working world.

Digital Capabilities – This module encapsulates several digital skills embedded in many topics such as Excel and Spreadsheet Modelling, and Simulation packages such as Simul8 and Anylogic. 

Sustainability – Through solving business problems (operational and strategic), this module provides students with the opportunity to explore decision making in modern businesses to ensure their sustainability and profitability.

Resourcefulness and Resilience – In this module, students will be given the opportunity to effectively use information and resources when working on their coursework. Students’ success is developed through both formative and summative assessment, with feedback focused on development and improvement in problem solving and self-efficacy while also encouraging determination, flexibility, and adaptability in the face of change and disruption.

Programmes this module appears in

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2024/5 academic year.