Decision-Making and Resource Optimization with Linear Programming
About This Course
This Decision-Making and Resource Optimization with Linear Programming course equips participants with advanced strategies in resource management using Linear Programming (LP) models. Learn how to optimize resource usage, develop comprehensive resource allocation plans, and track performance using tools like Excel Solver. Participants will master techniques to formulate and solve LP models that drive efficient resource management strategies.
The course also covers Decision Analysis (DA) and Multi-Criteria Decision Analysis (MCDA), enabling you to evaluate resource management performance from multiple perspectives. Through methods such as the Expected Value approach, Expected Utility approach, and the Analytic Hierarchy Process (AHP), you'll gain the skills needed to make informed decisions and develop Key Performance Indicators (KPIs) that align with organizational goals.
What You'll Learn
- Develop resource management strategy and plan using Linear Programming
- Develop resource allocation plan and track resource usage using Decision Analysis
- Evaluate resource management performance using Multi Criteria Decision Analysis
Course Outline:
Topic 1: Optimising Linear Programming (LP) Models for Resource Management
• Resource management optimisation and Linear Programming (LP) models (K1, A1)
• Use Excel Solver to solve LP Models (A2)
• Formulate and solve LP Models to optimize resource usage (A3)
Topic 2: Decision Analysis (DA) for Resource Usage
• Overview of Decision Analysis (K2, A4)
• Decision Analysis with Expected Value approach (A5)
• Risk analysis with Expected Utility approach (A6)
Topic 3: Multi-Criteria Decision Analysis
• Model multi criteria problems (K3, A7)
• Scoring board method (A8)
• Develop KPI using Analytic Hierarchy Process (AHP) (A9)
Entry Requirements
Knowledge and Skills
• Able to operate computer functions with minimum Computer Literacy Level 2 based on ICAS Computer Skills Assessment Framework
• Minimum 3 GCE ‘O’ Levels Passes including English or WPL Level 5 (Average of Reading, Listening, Speaking & Writing Scores)
Attitude
• Positive Learning Attitude
• Enthusiastic Learner
Experience
• Minimum of 1 year of working experience.
Target Age Group: 21-65 years old