GRA 4138 Business Simulation Analysis
GRA 4138 Business Simulation Analysis
The course objective is to familiarize the students with computer-based simulation methodologies and tools used in business settings characterized by uncertainties. The course will utilise both lectures and exercises.
- Knowledge of discrete-event simulation methodology and relevant background theories
- Knowledge of Monte-Carlo simulation methodology and relevant background theories
- Modelling and analysis of various systems using discrete-event simulation and Monte-Carlo techniques and tools
- Effective interpretation and demonstration of model outputs
- Sensitivity analysis
- To identify real-world problems to which simulation methods are useful and relevant
- To understand and appreciate the way uncertain and variable factors affect performance of various systems and how simulation helps to model, design, improve and analyse such systems
The course participants will learn how to model various systems, and study the effect on changes and uncertainties on the system in order to identify bottlenecks and improvements areas. Examples of simulations application areas include inventory and transportation systems, production environment, investments evaluation, queuing systems etc. The course will focus on modelling and analyzing systems using Discrete Event Simulations and Random event generators (Monte-Carlo simulations). The students will exercise on using simulation tools and on interpreting and presenting the results.
The course consists of lectures, tasks, presentations and discussions.
The following software tools are to be used during the course:
- Anylogic
- Excel and relevant add-ins
Please note that while attendance is not compulsory in all courses, it is the student’s own responsibility to obtain any information provided in class.
This is a course with continuous assessment (several exam components). Each exam component is graded by using points on a scale from 0-100. The components will be weighted together according to the information in the course description in order to calculate the final letter grade course. Students who fail to participate in one/some/all exam elements will get a lower grade or may fail the course. You will find detailed information about the point system and the cut off points with reference to the letter grades when the course starts.
At resit, all exam components must, as a main rule, be retaken during next scheduled course.
All courses in the Masters programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have specific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.
- Basics of probability theory
- Basics of Microsoft Excel
| Assessments |
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Exam category: Submission Form of assessment: Written submission Weight: 20 Grouping: Group/Individual (1 - 3) Duration: 1 Month(s) Comment: Course paper - Monte-Carlo simulation Exam code: GRA 41381 Grading scale: Point scale leading to ECTS letter grade Resit: All components must, as a main rule, be retaken during next scheduled course |
Exam category: Activity Form of assessment: Presentation Weight: 10 Grouping: Group/Individual (1 - 3) Duration: 15 Minute(s) Comment: Presentation of papers Exam code: GRA 41381 Grading scale: Point scale leading to ECTS letter grade Resit: All components must, as a main rule, be retaken during next scheduled course |
Exam category: Submission Form of assessment: Written submission Weight: 70 Grouping: Group/Individual (1 - 3) Duration: 1 Semester(s) Comment: Term paper (Project) - Discrete-event simulation Exam code: GRA 41381 Grading scale: Point scale leading to ECTS letter grade Resit: All components must, as a main rule, be retaken during next scheduled course |
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 6 ECTS credits corresponds to a workload of at least 160 hours.