Page 59 - DCAP208_Management Support Systems

Management Support Systems Rajni Bhalla, Lovely Professional University

Notes Unit 5: Modeling and Analysis

CONTENTS
Objectives
Introduction
5.1 Modeling for MSS
5.1.1 Some Major Modeling Issues

5.2 Static and Dynamic Models
5.3 Certainty, Uncertainty and Risk
5.3.1 Decision Making under Certainty
5.3.2 Decision Making under Uncertainty
5.3.3 Decision Making under Risk
5.4 MSS Modeling in Spreadsheets
5.5 Simulation

5.5.1 Characteristics of Simulation
5.5.2 Advantages of Simulation
5.5.3 Disadvantages of Simulation
5.5.4 Methodology of Simulation
5.5.5 Simulation Types
5.5.6 Visual Interactive Simulation
5.5.7 Conventional Simulation Inadequacies
5.5.8 Visual Interactive Simulation
5.5.9 Visual Interactive Models

5.6 Optimization Via Mathematical Programming
5.7 Summary
5.8 Keywords
5.9 Review Questions
5.10 Further Readings

Objectives

After studying this unit, you will be able to:

Discuss Modeling for MSS
Explain Static and Dynamic Models
Discuss the Concept of Certainty, Uncertainty and Risk

Describe MSS Modeling in Spreadsheets
Explain the Concept of Simulation
Discuss Optimization via Mathematical Programming

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