Operations Research ΙΙ

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Operations Research ΙΙ
Course ID: 
Course Description: 
Track course
Management Engineering
Elective course (track)
Financial Engineering


The main contribution of operational research in management is the mathematical modeling of management problems in order to optimize the procedure of decision making. The course analyzes further the scientific area of mathematical programming by presenting some techniques and models that standardize product, management,, resource assignment, optimization of investment decisions, workflow programming, management of supply chain and other problems.

Specifically, the course deals with the following issues:

Introduction to Dynamic Programming, network ant equipment replacement problems, stochastic network problems, stochastic problems on replacing and maintaining equipment, assignment problems, optimal load, travel salesman problem, introduction to Integer Programming, branch and bound, methods of bounding the feasible region , introduction to non-linear programming, non-constrained and constrained (equality constrains) non-linear programming, Kuhn-Tucker conditions.


Module Contents (Syllabus):


  • Introduction to Dynamic Programming
  • A Prototype Example for Dynamic Programming
  • Optimal Policy-Shortest path problem in Dynamic Programming-Exercises
  • Dynamic Programming for equipment replacement
  • Stochastic shortest path problem -Exercises
  • Stochastic Dynamic Programming
  • Resource allocation- Knapsack problem-Exercises
  • Travel Salesman Problem-Exercises
  • Introduction to Integer Programming, Branch & Bound, Modeling Dynamic Programming problems-Exercises
  • Introduction to Non-Linear Programming: Problems without constraints-Exercises
  • Non-Linear Programming: Problems without equality constraints-Exercises
  • Νon-Linear Programming: Problems without inequality constraints, Kuhn-Tucker
  • Exercises in Non-linear Programming




Class schedule: 
Tuesday 12:00-15:00
Assessment methods: 

Final Exams = 100%

Recommended Reading:
Α) Principal Reference:
  1. Εφαρμοσμένος Μαθηματικός Προγραμματισμός, Π.-Χ. Γ. Βασιλείου, Εκδ Ζήτη, 2001(in greek)
  2. Διοικητική Επιστήμη: Λήψη επιχειρησιακών αποφάσεων στην κοινωνία της  πληροφορίας, Γ. Πραστάκος, Εκδ. Σταμούλη, 2003(in greek)
Β) Additional References:
  1. Εισαγωγή στην Επιχειρησιακή Έρευνα, Τεύχη 1 & 2, Hillier F.S., Lieberman G.J., Εκδ. Παπαζήση, 1985(in greek)
  2. Operations Research – Applications and Algorithms, 3rd Edition, Winston W., Duxbury Press, 1994
  3. Dynamic programming : models and applications, E.V. Denardo, Englewood Cliffs, N.J. :Prentice-Hall, c1982,2003