Business Solution (Group Assignment, 5 Students/group), 30% of The Total Marks, Due Date: 1 October 2014, 5:00PM AEST, 3200 - 3500 Words

2.
Business solution (group assignment, 5 students/group), 30% of the total marks,

due date: 1 October 2014, 5:00PM AEST, 32003500 words
The purpose of this assignment is to develop your capability in applying your skills and
knowledge in a real situation. In the first tutorial session, you will be asked to form a group
of 5 students. For this assignment, you are required to apply quantitative techniques
discussed in this course in a real company. You can choose any of the discussed areas in
this course. Here are some suggested topics:
Linear programming
Sensitivity analysis
Network models ( excel solver method to maximize BPs distribution based on the
shortest distance.
Integer programming
Project management
Waiting line models
Simulation
Decision theory
Any other related topic discussed in this course
You can work on any topics discussed in the course but you need to address the following
areas when writing your report:
As a group you are required to apply your knowledge on optimisation in real and
practical environment. For doing so you need to find a real company and then decide
what optimisation technique you are going to apply in the company based on their
issues. Having an initial discussion with the company will help you choose the
appropriate technique. Provide background information regarding the company
including size, business type, areas of operations, competitors etc.
You are required to provide discussion about the chosen topic. For example, if you
choose LP model in an manufacturing company you need to first explain about LP
modeling and then justify why you choose LP for the company and why not the other
technique, what are the advantage of LP compared to other methods.
Then you are required to collect real data for the chosen topic and show the current
status of the company in the chosen topic. For example, if your topic is
Transportation, you need to discuss about nodes, cost of transportation per unit,
function for total transportation cost, all the constrains, complete mathematical
model, input and output data for Excel, optimal answer etc.
After analysing the current situation, you need to provide solution to improve the
performance and efficiencies of the operations in the company (e.g. how to reduce
the total transportation cost). Analyse the data explaining the process and where is
the data coming from and what does it represent. A clear step-by-step instruction
that can be understood by an individual with no previous Excel experience.
Suggested Structure of the report :
1. Executive Summary
2. Table of Content
3. List of Figures/Tables
4. Introduction
5. Identify the Problem and Choosing the Topic
6. Data Collection
7. Problem Formulation
8. Problem Solving
9. Analysis and Discussion
10. Recommendation
11. References
12. Appendix
Assessment Criteria:
1. Introduction: Company Information, Detailed background information of the
company including size, business type, areas of operations, competitors etc.
2. Identify the Problem and Choosing the Topic, Explain about the problem you
identified in the company. Explain about the assumptions. Detailed information about
the chosen topic. Why is this topic chosen? Current status of the topic in the
selected company.
3. Data Collection: the comprehensiveness of the data collected required for the
project analysis. You are required to collect real data for the chosen topic.
4. Problem Formulation: Mathematical formulation of the objective functions and the
constraints of the problem. Comprehensiveness of the mathematical model. Clear
definition of variable, objective function. Explanation for each of constraints,
comprehensiveness and clarity of model formulation.
5. Problem solving: Provide excel outputs with explanations and explain about the
optimal solution. Clear explanation about all steps, calculations. Providing realistic
scenarios, clarity, comprehensiveness and relevance of the solution.
6. Analysis and Discussion: Comparison between current status and the model
proposed in this assignment based on the total cost, time, sale, or profit, etc.
7. Recommendations: Discussions on the areas that can be improved based on the
finding of the project.
8. Over presentation of the assignment: Clarity of presentation and the sequence of
the topics, Correct Referencing, Executive Summary, Table of content, List of
Figures/ Tables, References, Page numbering, Cover sheet Appendix (if any).
Important Notice
All group members are required to work equally towards the completion of this assessment
task. In case you think the level of contribution among your group is not equal and fair you
can complete the form Peer Review Assessment for Group Assignment.doc (see under
Assessment in Blackboard) and send it directly to the Lecturer. The lecturer will ask the rest
of your group members to complete the same form and send it to him/her. All information
and communications will remain confidential. Please remember if you have no complaint
you do not need to complete this form.
Here is an example of how the peer review assessment works:
Suppose that overall mark for a group assignment (including oral presentation) is 70 out of
100. Jack is in this group and the results of Peer Review Assessment shows that Jacks
contribution has been 80%. Therefore Jacks overall mark for this assignment would be 0.80
* 70 = 56 out of 100.
Important Notes about Group Assignment:
Choose a name for your group. This name will be used for all references and
communication.
Talk to your tutor regarding your topic. Your tutor will advise you whether the topic
and the company are suitable for this assessment task. Your tutor will also help you
develop a strategy in doing your assignment.
The chosen company must be based in Australia.
Group assignment must be submitted electronically through myRMIT Studies. This
provides us with evidence of the time and date of submission. Do not send your
assignment by e-mail.
The assessed assignments will be returned to students wihin two weeks after the
due date.
Nominate a student as contact person for each group.
Provide the company name and contact details of the staff that you have collected
the data.
Your final report must address both qualitative and quantitative aspects of the
selected topics.
Using multiple sources for data collection is highly recommended, e.g interviews with
key informants and also using the companys historical records..
Group assignments which are done individually will not be accepted. Please make
sure you join a group by the end of week 2.
Every member of the group should equally contribute towards the completion of the
assignment.
Please make sure you attach the softcopy of your Excel solution with your Group
Assignment Report.
For any optimization technique chosen in this assignment you MUST mathematically
formulate the problem (i.e. the objective function and the constraints of the problem).

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