Quantitative Decision Making: Made EASY
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Similar to operations management, project management employs an array of quantitative techniques while performing planning, scheduling, forecasting, and monitoring tasks. The main purpose of the quantitative approach is to make an optimal decision by using mathematical and statistical models in a situation when the probability of all outcomes is uncertain.Quantitative approach to decision-making produces the best results when the problem is clearly defined, several alternatives exist, and decision outcomes are easily measurable. However, in the case that many external factors are outside of the decision-maker's control and their probability is unknown, the quantitative methods can become unreliable.The purpose of this study Material is to present an introduction to the subjects of MBA Semester-I. The contents of this text will also cater to the students of courses like DFM, DMM, M.Com and B.Com, etc. The book contains the syllabus from basics of the subjects going into the intricacies of the subjects. All the concepts have been explained with relevant examples and diagrams to make it interesting for the readers.An attempt is made here by the experts author to assist the students by way of providing Study Material as per the curriculum with no commercial considerations. However, it is implicit that these are exam-oriented Study Material only and students are advised to attend regular classes and utilize reference books available in the library for In-depth knowledge.We owe to many websites and their free contents; we would like to specially acknowledge contents of website www.wikipedia.com and various authors whose writings formed the basis for this book. We acknowledge our thanks to them. At the end we would like to say that there is always a room for improvement in whatever we do. We would appreciate any suggestions regarding this study material from the readers so that the contents can be made more interesting and meaningful.
Dr. Mukul Burghate
Author
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Dr Prashant Kadu has been appointed Dean of the Interdisciplinary Faculty of RTM Nagpur University, Dr Kadu, Principal of Gaikwad Patil College of Engineering has assumed the office of the Dean.
The Interdisciplinary faculty was created to grant more liberty for the research scholars. The higher studies and research which transacts through subjects under different faculties are facilitated through it.
The Maharashtra Public Universities Act provides for the faculty and the details are expected to be mentioned in the statute to be made by the universities. Several subjects have been included under the umbrella of this faculty. The research in those subjects, which are restricted to the subject only, is being granted degrees under Interdisciplinary Faculty.┬а
With the much-delayed appointment of the Dean of this faculty, Dr Kadu is expected to work out the details and facilitate research across different subjects.
Mukul Burghate is a Fellow of Institute of Engineers (Kolkata) and a graduate of Civil Engineering from Pune University. He is an alumnus of the Department of Management Sciences of Pune University (Now Known as Savitribai Phule Pune University-SPPU). He has also to his laurelтАЩs various other degrees like M.Com & PGDBIO. He cleared SET (Commerce) in the year 2000 and is exempted from NET Exam. He was awarded PhD on Thesis entitled тАШA study of Advertising Agencies in India: A Status ReportтАЩ under the Supervision of Dr. S.S. Kaptan, Savarkar Chair and Ex-Professor and Head, Dept. of Commerce, Savitribai Phule University Pune from SGB Amravati University, Amravati.
He is presently serving as an Associate Professor for last 21 years and has successfully played multiple roles at the Department of MBA of Dr Panjabrao Deshmukh Institute of Management Technology and Research, Nagpur. He is also a faculty member of NMIMS Global Access School for Continuing Education (Online education arm of NMIMS), Mumbai and Symbiosis Centre for Online Learning (SCOL), Pune. He has thorough experience in ODL education of IGNOU as a Coordinator & Counsellor for the last 10 years.
He is nominated Member, Board of Studies (BoS) with Symbiosis Skills and Professional University (SSPU), Pune; Indira College of Commerce and Science(ICCS), Pune & RTM Nagpur University, Nagpur
He has a total of 23 years of teaching and industry experience blended with 15 years of research practice in the field of Management and Commerce. A total of 09 students have completed their PhD under his able Supervision and 07 students of MPhil (Commerce) have successfully cleared their research dissertation.
He has authored, published and presented more than 41 papers in International, National and State Journals, Conferences and Seminars including Scopus Indexed, UGC CARE list etc. He has also chaired technical sessions in many International and State Conferences & Seminars.
