This course is related to other Simon courses such as CIS418, OMG402, and OMG412.

Learning Objectives

This course will form a foundation for your future coursework at Simon and you should expect to apply what you learn here in later courses as well as the workplace. The course has two major objectives:

to develop your ability to frame business decision problems in a way that makes them amenable to quantitative analysis and
to train you in fundamental quantitative analysis techniques useful for business problems.

Course Description

The course is structured in three parts.

Model business decision problems in a structured way using spreadsheets
Use the computer to solve complex decision problems involving many variables and constraints.
Use Monte Carlo simulation so that you will have a framework for understanding and analyzing uncertainty in business.

All three parts are strongly interrelated. We will draw upon examples from different functional areas so that you will see how the techniques taught can be applied in a practical way to a variety of settings. All assignments and exams will be computer-based.

Final Exam

Time: 6 - 8 pm, July 8, 2025
Location: S407

Software

Please install RiskSolver before our second class. Mac users need to have Parallels installed first. To install, follow the latest installation guide at here.
As of May 2025, you can visit here to fill out the registration form. Use the textbook code LABBYOD and course code RCHSTRSC2425, and choose the Academic Version.

You will be taken to a download page. Click on the download for Analytic Solver Desktop and then click on Download Now.
After downloading, close Excel and run the installer.
After installation, click the “Analytic Solver” tab in Excel. Log in with the email/password that you just created. Click on Manage Licenses.
Click on the Purchase License drop-down menu and then Purchase 1-year License. This will open a web page for your licensing "purchase".
Enter your Course Code (RCHSTRSC2425) in the Coupon Code field to apply a 100% discount and then click “Place Your Order” to apply your 1-year license.

Note the version of Risk Solver that you are required to use does not work on Mac OS, so you will need to have Parallels installed. If you do not have Parallels on your machine, please visit the Simon IT help desk located in Gleason 335 for assistance.

Grading

There are 5 homework assignments. They are usually due before class, starting from the third week. See here for more details.

Homework assignments	40%
Professionalism and Class Participation	10%
Final Exam	50%

Schedule

Week	Date	Session	Module	Topic	Reading (3rd version)
1	5/20	1	Building Models	Influence Diagram	Chapter 2 pp. 26-34
1	5/20	2	Building Models	Spreadsheet Engineering	Chapter 5 pp. 95-111
2	5/27	3	Building Models	Sensitivity Analysis	Chapter 6 pp. 119-132
2	5/27	4	Optimization	Introduction to Optimization	Chapter 10 pp. 206-231
3	6/3	5	Optimization	Linear Optimization	Chapter 10 pp. 206-231, Chapter 12 pp. 281-305
3	6/3	6	Optimization	Case 1: Bloomex.ca
4	6/10	7	Optimization	Binary Variables	Chapter 13 pp. 314-323
4	6/10	8	Optimization	Case 2: DHL Supply Chain
5	6/17	9	Simulation	Randomness and Probability	Chapter 16 pp. 392-412
5	6/17	10	Simulation	Building Simulation Models
6	6/24	11	Simulation	Sensitivity Analysis	Chapter 16 pp. 412-424
6	6/24	12	Simulation	Case 3: Printicomm
7	7/1	13	Simulation	Optimization under Uncertainty	Chapter 17 pp. 448-466
7	7/1	14	Simulation	Course Review and Homework Discussions

Textbook

The optional textbook for this course is Management Science: The Art of Modeling with Spreadsheets, by Stephen G. Powell and Kenneth R. Baker, 3rd edition or above. It is an excellent reference for most of the topics covered in the course.

Need help?

Office Hours: Tuesday, 4-5 pm, at Carol Simon Hall (CSH) 3-310

Email: huaxia.rui@simon.rochester.edu

Phone: 585-275-4278

Teaching Assistant: Avni Anand

TA Office Hours: Saturday & Sunday, 12-1 pm at Zoom

TA Email: aanand14@simon.rochester.edu