Quantitative Methods for Project Management

Course Description

The course presents contemporary quantitative tools through business models in order to prepare students for other courses using quantitative methods. The course covers application of quantitative analysis to business and economic problems.

Course Outcome

At the end of the course, students should be able to:

• Use  statistical tools in Projects feasibility analyses
  
• Formulate business, management and economic issues into mathematical problems and solve them using appropriate quantitative techniques
  
• Apply quantitative techniques in projects decision making.
  
• Apply mathematics to technical problems in Project management.
  
• Appreciate the value of mathematical reasoning and analysis in projects objectives and milestones
  

 Course Content

• Basic functions peculiar to studying business(Linear, quadratic, some polynomials exponential and logarithmic functions),
  
• Algebraic relationships,
  
• Systems of equations,
  
• Linear programming,
  
• Network flow models,
  
• Time series analysis and business forecasting
  
• Probability and statistics,
  
• Decision analysis.
  

 

Required Reading Materials

• Barnett, A., Zielgler, R. & Byleen, E. (2000). Applied mathematics for business, economics, life sciences and social sciences, (7^th ed.). New York: Prentice-Hall, Inc.
  

 

 Optional Reading Materials

• Dowling, E. T. (1992). Introduction to mathematical economics, (2^nded.). Schaum’s Outline series, Ontario: McGraw-Hill Inc.
  
• Hughes-Hallet, D. & Gleason, M. (1996). Applied calculus for business, social sciences and life sciences, New York: John Wiley and Sons, Inc.
  
• Chiang, A. C. (1984). Fundamental methods of mathematical economics. New York: McGraw-Hill Book Co