Decision Models

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B6015: Decision Models

Modeling Group Project
The purpose of this group project is to apply the modeling concepts and methods learned in class to an important real-world decision making problem based on your own work or personal experience. It could include a problem faced at job, consulting assignment, school, club, organization, etc. that someone in your group has been personally involved with. For examples of past projects, see under the Content / Sample Projects on the Angel page for the course. The deliverables are: 1) The slides for your power point presentation (PPT file). 2) Your Excel model (XLS file). 3) Any appendices needed to explain your project and the model. The appendix is to be used for any necessary explanations and any information that you did not put into the presentation file but you want me to know. Your Excel, PowerPoint files and the appendix should be self contained, meaning that I should understand your problem, your model and your conclusions by looking at the files only. Your presentation should be ten minutes. It should consist of three parts: 1) What is the problem, what is the context, what was your involvement? 2) Give a description of the model. If it is an optimization model, describe in words what your decision variables, objective function and constraints were. If it was a simulation model, what were your Assumption and Forecast variables? What was the result of your model? 3) Talk about data and real world implementation issues. Depending on the particular project (check with me), your model may be a simplified instance of a more complex model to illustrate how it would work. This should be in spreadsheet form but could possibly involve made-up data with a small number of variables, etc. – something sufficient to show how it would be implemented. You would need to be able to explain how you would acquire the necessary data for a realistic size instance if you had more time and resources. The deadlines are:  Session 8...
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