Project Guide Optimization Techniques

Project Guide Optimization Techniques
The aim of this project is to use relevant methods and tools used during the lectures and deliver meaningful results in a professional
context while keeping in mind that the reader may not be a specialist and needs explanations.
Basics
The project length is limited ( from 10 (min) to 20 (max) pages including appendices)
The reader has to be able to understand without being a specialist. You will explain what you did and why. All decision
variables, constraints, results and software output should be explained.
I expect you to provide files, outputs and tables with your project. Also include the programs that you used. You may use
Lingo or Excel. I take into account what you tried to solve and obviously the fact that you are able to model the problem.
In the problem, the variables and the constraints should be clearly defined and the objective function clearly set. The
recommendations to make should base on the Lingo or excel output (slacks, shadow prices, reduced prices, ranges….)
Project: (This is just an example; you will have to create your own problem)
FedEx would like to set up a warehouse in a given city. You want to become the new operation manager. They ask you to
demonstrate your proficiency in Optimization Techniques.
– Create and solve an example of each problem that you met during the lecture. It means that you need to use the following concepts:
Decision making without probabilities (Miximax, Maximin, Minimax),
Decision making with probabilities (EMV, EOL, EVPI, RTRR),
Linear problem to model and solve, with at least 9 decision variables and 9 constrains. You can go up to 10 decision
variables and 15 constraints. Sensitivity analysis will be used extensively.
Transportation problem
Transshipment problem
Shortest path problem
The maximum flow problem.
CPM/PERT
– The more complicated the problems you create and solve, the more points you get.
– Do not confuse a large problem (many constraints but easy to model) and a complicated one (maybe only some constraints but
difficult to model).
– We take into consideration the fact that you tried to be innovative (meaning not just changing the data in a well-known problem).
– You will provide a document with, for each problem: what you want to do, the program (or screenshots), answers and the meaning
of your results.
Remarks:
You are allowed to create your own problem. Just check with us that youre on the right path.
We will check that you are not just changing the values for some well know problems.
Your project must follow these specifications.
Title page: It must include the name of the group members and the title of your project.
Table of content.
Abstract: no more than 300 words
Introduction
Research Method used in the study
Findings
Conclusion and Recommendation
Bibliography
Appendix

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