1. Master of Science in Management Science

2. MSc (Management Science)
This degree will provide students with advanced skills in applied statistics, operations research, information technology and data analysis.
Core discipline topics will include:
Mathematics of Risk
Scheduling and Optimisation for industry
Business Forecasting and Modelling
Supply Chain Management
Project Management
Enterprise Systems
Data Warehousing
Evolutionary and Neural Computation

3. Industry Project
The Industry Project is the cornerstone module that requires students to draw together their scientific knowledge and professional skills to solve real industry problems
Students, potentially from different streams, will form syndicate groups in the final semester
Initially, projects may include:
providing advocacy reports
drawing up business plans
Longer term plans…

4. MSc (Management Science)
Operations Research

5. What are Operations Research problems?
Strategic decision making
resource requirements and allocations
e.g. vehicles, machines, operators
location/relocation decisions
e.g. building new facilities, relocating/closing existing facilities
system design
e.g. warehouse
Operational decision making
scheduling
timetabling
sequencing
routing
rostering
production planning
inventory control

6. Force Optimisation at Defence Science and Technology Organisation (DSTO), Department of Defence, Australian Government
Defence Objectives
What types of forces should be maintained?
What force strength is required?

7. Warehouse Design Savings of 27-43% on order picking costs
Storage Racks
Incoming Products
Pick order
Savings of 27-43% on order picking costs
Where to store products?
…affects order picking
Storage location
Orders
Customer Order History
Operations Research Technology
Customers

8. How many buses to purchase? Hourly bus requirement?
Bus Service Optimisation at Melbourne Airport
How many buses to purchase?
Bus driver roster?
Melbourne Airport
Long-Term Car Park
Bus Sizes?
Hourly bus requirement?
Bus schedule?

9. Transport & Logistics 3400 16500 1400 2500 3000 1500 5500 Ship Holds
BRISBANE
NEWCASTLE
ADELAIDE
KADINA
PORTLAND
GEELONG
TOWNSVILLE
MACKAY
10000
7000
Ship Holds
200 80
Material A: T
Material B: 6900 T
2500
3000
5500
1500
16500
1400
3400
Red Sea Suppliers
Israel, Egypt

10. Mathematics in Operation
Real Practical Problem 
Mathematical (Optimization) Problem x2
Mathematical Solution Method (Algorithm)
Computer Algorithm
Decision Support System
Human Decision-Maker

11. A Facility Location Problem

12. The Role of Statistics in Management Science Some Examples

13. Estimating race car performance as a function of spring stiffness, weight and down-force, for different tracks

14. Air Traffic Control: design and analyse man-in-the-loop simulation trials of a new computer system. Allow for varying traffic density

15. Modeling frequency, duration and severity of power cuts
Simulating the supply of
emergency generators:
how many are needed,
and where should they be stored?

16. RN roulement :
maintaining an active presence abroad, how many vessels required?

17. Supply of telephone equipment: how many spare parts to keep on site; how many spare parts to store centrally?

18. Hedge fund: Value at Risk estimates
Forecasting the value of your stock portfolio

19. Business Subjects in the MSc in Management Science

20. What is Offered?
There are three business subjects which are compulsory
Two “Business Tools” subjects:
Business Tool 1: Money, People and Projects
Business Tool 2: The Market Environment
One core subject:
Cases in Business Modelling

21. Who will Teach These?
All three units will be taught be academic staff from the Melbourne Business School
We specialise in teaching MBA, Executive MBA and programs for senior executives and managers
You can find more details about us at our website:
In fact, all 3 units can be also be credited to any further studies in an MBA at MBS

22. Business Tool Units
The two business tools units are part of the program to skill-up students for the workplace
They provide a wide range of what is often assumed knowledge for managers
However, these are not often known by graduates without a background in business
Therefore, it really puts a graduate in a position to seek more senior roles

23. Tool 1: Money, People and Projects
This tool aims to provide some expertise in the skills required to operate successfully within an organisation
They are the “internal tools”
They include:
Basic accounting
Managing a budget
Working and managing people
Managing business processes

24. Tool 2: The Market Environment
This tool aims to provide an overview of the tools required by organisations to operate successfully in a market environment
They are the “external tools”
They include:
Simulation and cases in negotiation
Core marketing concepts, such as brand management and creating a marketing plan
Strategic decision-making and managerial economics

25. Cases in Business Modeling
This unit aims to look at advanced modeling from the context of applications
The idea is to take a well-defined business problem, and use the methods and skills picked up in the MSc to solve them
Some statistical, econometric and operations management theory will also be covered

26. Cases in Business Modeling
The area covered includes the following:
Managing processes using operations theory
Empirically informed business decision-making
The econometrics of the financial markets and financial engineering
Market models and data

27. A Unique Program
In many ways, the MSc in Management Science is a unique program
By including the professional tools, as well as the core science, it creates a unique mix of subjects
It will:
(1) build up the mathematical, statistical and informatics skills of graduates
(2) place these in the business context so that graduates can leverage their abilities to the full in their workplace