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Tag: DECISION SCIENCE

M/M/I/FIFO

M/M/1 (N/FIFO) System : Queuing Models It is a queuing model where the arrivals follow a Poisson process, service times are exponentially distributed and there is only one server. Capacity of the […]

Resource Planning and Meaning of Crashing

Resource Planning Resource planning refers to the strategy for planned and judicious utilisation of resources. Resource planning is essential for sustainable existence of all forms of life. Resource planning is […]

Analysis with the help of PERT and CPM

Program Evaluation and Review Technique (PERT) is a method used to examine the tasked that are in a schedule and determine a variation of the Critical Path Method (CPM). It analyzes […]

Meaning of Networking

Meaning of Network Technique Network technique is a technique for planning, scheduling (programming) and controlling the progress of projects. This is very useful for projects which are complex in nature […]

Decision under Certainty, Uncertainty, and Risk

Decision-making under Certainty A condition of certainty exists when the decision-maker knows with reasonable certainty what the alternatives are, what conditions are associated with each alternative, and the outcome of […]

Travelling Salesman Problem

Problem Statement A traveler needs to visit all the cities from a list, where distances between all the cities are known and each city should be visited just once. What […]

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