The course aims to provide more insight on Operational Research methods. Specifically, the course material can be divided in three sections:
1. A deeper look on Mathematical Programming, where some advanced topics on mathematical programming will be studied (such as Ellispoid Algorithm, Internal point Algorithms etc.) and also, their advantages in contrast with Simplex will be shown (complexity, efficiency)
2. Meta-heuristics, where classical meta-heuristic algorithms will be presented and their applications on OR problems will be studied (routing problems, scheduling problems, etc.)
3. Artificial Intelligence in Operational Research, where the contribution of Artificial Intelligence in Operational Research is investigated.
Throughout the semester, various real world problems, which a Financial and Management Engineer will cope with, will be studied.
Syllabus:
- Ellipsoid Algorithm
- Internal Point Algorithm
- External Point Algorithm
- Scaling Techniques
- Meta-heuristics (Tabu Search (TS), Threshold Accepted (TA), Variable Neighborhood Search (VNS), Large Neighborhood Search (LNS) etc.)
- Genetic Programming: Theory and industrial applications
- Intelligent Computational Methods applied on Forecasting problems in OR
- Mathematical Programming and Artificial Intelligence
- Fuzzy Multi-criteria Decision Making
- Intelligent Optimization methods in Financial Engineering (routing problems, energy dispatch problems, scheduling, resource leveling, production management, handling uncertainty)
- Evolutionary Optimization in Management Engineering
The evaluation of students’ performance is achieved by the completion of a project, which can be:
- either related to the development of a method from the ones that are part of the course, in order to solve a simple problem (with respect to the Programme Track that each student attends
- or a study of a specific problem and propose a solution using a predefined method that is included in libraries of any programming language, where mathematical programming or artificial intelligent methods are included
Furthermore, deliverable of this project is a report which follows the structure of a research study (Introduction, Literature Review, Methods, etc.)
A. Course's handbooks:
Bronson, R. and Naadimuthu, G., 2010. Επιχειρησιακή έρευνα. 2η εκδ. ΕΚΔΟΣΕΙΣ ΚΛΕΙΔΑΡΙΘΜΟΣ ΕΠΕ.
Hillier, F.S. and Lieberman, G.J., 2017. ΕΙΣΑΓΩΓΗ ΣΤΗΝ ΕΠΙΧΕΙΡΗΣΙΑΚΗ ΕΡΕΥΝΑ. 10η εκδ. Εκδόσεις ΤΖΙΟΛΑ.
Taha, H.A., 2017. ΕΙΣΑΓΩΓΗ ΣΤΗΝ ΕΠΙΧΕΙΡΗΣΙΑΚΗ ΕΡΕΥΝΑ. 10η εκδ. Εκδόσεις ΤΖΙΟΛΑ.
B. Supplementary bibliography
Bazaraa, M., Jarvis, J., Sherali, H. (2005). "Linear Programming and Network Flows", 3rd edition, Wiley-Interscience
Griva, I., Nash, S., Sofer, A. (2009). "Linear and Nonlinear Optimization", 2nd edition, SIAM
Liberzon, Calculus of Variations and Optimal Control Theory, 2011, Princeton University Press.
Μπότσαρης Χαρ., (2001). Αλγόριθμοι Γραμμικού Προγραμματισμού και Θεωρία Παιγνίων, Ελληνικό Ανοικτό Πανεπιστήμιο
Ploskas, N. and Samaras, N., 2017. Linear Programming Using MATLAB® (Vol. 127). Switzerland: Springer.