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ILM 8316-608 Managing Operations Research Level 6 Assignment Sample UK
ILM 8316-608 Managing Operations Research Level 6 Assignment Sample UK
The ILM 608 Managing Operations Research course at the university is an amazing opportunity to become familiar with the research and analysis techniques used in operations research. In particular, you will learn how to utilize mathematical models and other scientific methods to solve complex business problems.
Moreover, this course will equip you with the skills necessary for advanced problem-solving, such as analyzing data, interpreting results, finding optimal solutions, and presenting them to a management team or key stakeholders. This course provides essential insight about the world of operations research that can be used in many different professional and academic settings.
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Here, we have put together some assignment briefs for you. These are:
ILM 8316-608 Task 1: Be able to conduct operations research in an organization.
Operations research is an essential skill for running businesses efficiently and achieving maximum efficiency. It allows managers to explore different scenarios and understand their impacts on current and future operations. Utilizing robust data analysis techniques, operations research helps in developing evidence-based decisions that are informed by historical data. With the right tools and sufficient training, operations research enables organizations to develop strategic goals that best meet the company’s objectives.
AC1.1 Define a problem in own area of responsibility, that has arisen out of a need to make better use of available resources.
As the head of the marketing team, I recognized a need for us to make smarter use of our available resources. We were spending too much time and money on traditional advertising methods which were not providing enough bang for our buck. To fix this issue, I devised a strategy to shift our resources towards more cost-effective digital campaigns with greater reach and tracking capabilities. After implementing this strategy, we increased efficiency within the marketing department and achieved desired results without compromising on quality.
AC1.2 Establish the objectives for the problem resolution and any specific requirements that must be met in proposing a solution.
When it comes to resolving a problem, it is paramount to have set objectives in place. The objectives should be actionable and achievable and clearly explain the expected outcomes of a potential solution. In addition, having comprehensive requirements in place that must be met by any proposed solution is also crucial to ensure the successful resolution of the issue at hand.
Requirements should ensure that all solutions are suitable and effectively address the identified problem without introducing additional issues or complexities. They should also provide direction on how a proposed solution can meet or exceed established expectations while taking costs into consideration. Establishing objectives and requirements is key to any successful problem-resolution process.
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AC1.3 Select and justify a specific operations research methodology to resolve the problem, identifying both its strengths and weaknesses in comparison to alternative methodologies.
Choosing the right operations research methodology to solve a problem is key to devising an effective and efficient solution. In this case, linear programming is the best methodology for resolving this particular problem. Unlike some other methodologies, linear programming assumes rational behavior on the part of decision makers, allowing us to identify which outcomes are optimal since all decisions are made based strictly on economics.
However, linear programming is not immune to any weaknesses; depending on the complexity of the problem, determining all relevant variables may be time consuming and challenging. Additionally, it fails to take into account non-economic or uncooperative actions that may interfere with achieving optimal outcomes. Still, linear programming provides tremendous value in helping us resolve our current issue in a logical and well-thought out manner which outweighs its potential shortcomings.
AC1.4 Collect, validate and analyze data collected from the organization in order to employ the selected operations research methodology to propose an appropriate solution.
Gathering and evaluating the necessary data is paramount to ensure that the most suitable operations research methodology is selected. Having reliable information from the organization also ensures that an appropriate solution can be proposed as it is based on facts from a credible source. An extensive understanding of the data by analyzing it in depth will further give insights into which research technique yields the most relevant results for the present issue. With an accurate data collection process, validated through proper examination, the right operational research methodology can be effectively implemented to achieve desired outcomes.
ILM 8316-608 Task 2: Be able to interpret the outcomes of operations research.
Being able to interpret the outcomes of operations research is a key skill for all professionals in data analytics and management science. By recognizing patterns, making connections, and understanding the implications of data-driven decisions, we can make sure that attempts at efficient outcomes are being made in the right directions. Understanding operations research results also allows these professionals to explore further avenues of improvement and provide better strategic guidance.
AC2.1 Recommend improvements to organizational efficiency based on the outcomes of operations research.
Once the outcomes of operations research have been interpreted, it is necessary to make recommendations that will improve organizational efficiency. This can involve identifying areas for improvement such as streamlining processes and reducing costs, or devising strategies that utilize existing resources more efficiently. Regardless of the course of action taken, these solutions should be tailored to meet the specific needs of the organization and should be consistent with the objectives set out when the operations research initiative was launched. Additionally, it is important to establish a timeline for implementation of these solutions to ensure that the organization can start seeing results as soon as possible.
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