BMGT 3371 Integrative Project
You and your partner(s) have been hired by _____. Your task is to aide this organization as they attempt to fix, develop, improve, etc. an area within the organization. The objective of this assignment is to illustrate the applicability of models designed to address a business decision.
You will be responsible for the formulation, solution, and analysis of three mathematical models. Think about your company and how you can use the models we’ve learned in class to address an issue the company may have, create something new for the company, or even enhance their existing operations. The specifics of the project are up to you, but the following models must be used.
Analysis of a Linear Programming Model
- Based on the project you decide to create, you will need to formulate a Linear Program.
- Your linear program must have at least 5 variables and at least 6 constraints. Standardize all constraints where applicable.
- You should also solve and interpret the sensitivity analysis, discussing the results most relevant to your problem.
- Media Selection LPs will not be accepted without prior approval from the instructor.
Analysis of a PERT/CPM Model
- Your model needs to be designed for uncertain conditions
- You should conduct probability analyses for at least two
- You must include costs and a budget for the project that reflect your completion time(s).
- Your model must have at least 10 activities.
Analysis of a Forecasting Model
· You will need to utilize one time-series model and one simple regression model (including correlation).
· Include accuracy measures for each model.
· Which model do you believe is most appropriate for your project? Why?
· You should conduct a confidence interval analysis for the first time period forecasted for this most appropriate model.
· Your model must have at least 8 data points.
The order of models used in the system is for you to decide. You should sequence the models in such a manner that they help solve your company’s issue. The models should all be designed to address the company issue you have identified.
In addition to the final report, you will also rate the participation and contribution of your partner(s).
Integrative Project Outline
I) Cover Page
- Executive Summary (1 Page)
- Table of Contents (1 Page)
- Introduction (1-2 Pages)
The introduction should include a brief summary of your company. What do they do? What products, services, processes, and/or inputs do we need to know in order to understand the company?
Moreover, what is the organization’s issue that needs to be addressed? Describe your system and how it will address the issue.
- Analysis of Your Model One (2 Pages)
- Analysis of Your Model Two (2 Pages)
- Analysis of Your Model Three (2 Pages)
Within each model, you should discuss the purpose of the model.
You should describe the details of each model, along with the formulation of the model. Be sure to address the various elements required of each model (see above).
Formulas should not need to be included in the body of the paper, but should be clearly identified in the appendices. Your audience is likely not concerned with the technical details, but rather the big picture.
Additionally, provide the solution for each model.
Finally, each model should include an interpretation. What is the meaning of the results and what do they mean for the company and its issue?
- Implementation (1-2 Pages)
Describe how your system will be implemented.
Additionally, based on the results of your analysis, what needs to change in the organization?
What timeframe will you establish for making these changes?
Who should be involved in the changes and who needs to know about them (e.g., internal and/or external people)?
- Conclusion (1 Page)
Finally, describe the overall results of the system and explain how it has addressed the issue within your company.
Appendix A – Model One Solution
Appendix B – Model Two Solution
Appendix C – Model Thre
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