Master complex business and financial decision-making through operations research methods. In this 3-course Mastery Series, you'll get a comprehensive understanding of linear and nonlinear programming, decision analysis, network flow, queuing and risk simulation to inform decisions that increase revenue, decrease costs, or improve operational efficiency. Using spreadsheet-based software, you will learn to specify and implement these models. This program combines conceptual explanations with real-world applications so you can use these skills immediately in your work or learning practicum.
Who This Mastery Serves
Enroll in our Operations Research Mastery Series if you want a deep dive into linear and nonlinear programming, decision analysis, network flow, queuing and risk simulation. A record of mastery will help elevate your career knowledge or jumpstart your career in business and financial management. Related job titles include:
- CFO/VP/Director/Manager, Finance
- CEO, COO
- VP/Director Business Operations
- Risk Manager/Director
- Analytics Director
- Data Analyst
- Business Analyst
- Technical Analyst
With an Operations Research Record of Mastery you will have an in-depth understanding of both theoretical and real-world applications for effective risk and financial modeling. You'll also be able to:
- Describe what types of decisions are amenable to linear programming solutions.
- Formulate a linear programming (LP) model and represent it graphically.
- Use LP models for various decisions: make or buy, where to invest, etc.
- Solve the LP model with spreadsheet-based software.
- Use sensitivity analysis and shadow prices to gain additional information from the LP solution.
- Use simulation to describe and measure the impact of uncertainty on decision problems.
- How to use optimization techniques with simulation to mitigate and manage risk.
- Use queuing models to describe and manage the behavior of waiting lines.
- Use payoff tables, decision trees and multi-criteria scoring models to analyze decisions problems.
- Solve integer programming problems with software.
- Accommodate multiple goals in the analysis.
- Specify an objective function and constraints for a network problem, and model it with software.
- Specify an integer programming model.
- Appropriately use rounding and stopping rules, and branch & bound
- Characterize the different components of a time series (trend, seasonality, autocorrelation, volatility, mean reversion).
- Use probability distributions in a financial model simulation.
- Fit various autoregressive models (ARCH, GARCH, more).
- Determine the correlation structure in time series.
You should be familiar with basic statistics, as covered in:
The Operations Research Mastery Series consists of three out of four 4-week courses (you choose) offered completely online at Statistics.com.
Class Start Dates: Sep 24, 2021
What Our Students Say
This course was flat-out excellent. Dr. Ragsdale sets the gold standard for teaching, from his clear and informative text to his prompt and helpful forum responses to his efficient and effective course design. I now have tools that I can put work immediately to benefit my company. Anuja, our teaching assistant, was also superb, providing timely help and support when needed.
Tuition and Fees
Plus a $65 Recording Fee.
Frequently Asked Questions
Visit our knowledge base and learn more.
Organization of Series
The Mastery Program consists of standard Statistics.com courses – small classes, regular interaction with your instructor throughout the course, rapid expert feedback on your homework and projects. You can register for the courses individually, and even incorporate courses that you have recently successfully completed.
Courses takes place online at The Institute. During each course week, you participate at times of your own choosing. There are no set times when you must be online. Course participants will be given access to a private discussion board. In class discussions are led by the instructor. You can post questions, seek clarification, and interact with your fellow students and the instructor.
At the beginning of each week, you receive material relevant to the course, in addition to answers to exercises from the previous session. During the week, you are expected to go over the course materials, work through exercises, and submit answers. Discussion among participants is encouraged. The instructor will provide answers and comments, and at the end of the week, you will receive individual feedback on your homework answers.
There are 3 courses in this Mastery Series.
Each course is a 4-week course requiring 10-15 hours per week of review and study, at times of your choosing. You may build your own course calendar to meet your individual requirements. The Mastery Series program may be completed in less than six months to one year, depending on your personal schedule and course availability.
Course Fee & Information
Record of Mastery Documentation Fee
Upon Mastery completion, there is a $65 recording fee to receive your Record of Mastery documentation.
Transfers and Withdrawals
We have flexible policies to transfer to another course or withdraw if necessary (modest fee applies).
Courses may fill up at any time and registrations are processed in the order in which they are received. Your registration will be confirmed for the first available course date unless you specify otherwise.
Invoice or Purchase Order
Add $50 service fee if you require a prior invoice, or if you need to submit a purchase order or voucher, pay by wire transfer or EFT, or refund and reprocess a prior payment.
Contact us to get information on group rates.
Options for Credit and Recognition
Our Mastery Series credits options vary by program and courses offered.
You may take this program without pursuing credit or a record of completion.
Mastery Program Credit
If you are enrolled in a Mastery Program that requires demonstration of proficiency in this subject, your course work may be assessed for a grade.
Certificate Program Credit
If you intend to enroll in a Certificate Program following completion of your Mastery Program, your course work may be assessed for a grade. In addition, your courses will be assessed for transferability to the Certificate Program course requirements. In most cases, if your Mastery Program courses are also included in the Certificate Program as either required courses or elective courses, your completed Mastery Program course work will be transferred to the Certificate Program.
CEU’s and Proof of Completion
If you require a “Record of Course Completion” along with professional development credit in the form of Continuing Education Units (CEU’s), upon successfully completing the course, CEU’s and a record of course completion will be issued by The Institute upon your request.
Courses in your Mastery Program that have been recognized by the Institute for Operations Research and the Management Sciences (INFORMS) as helpful preparation for the Certified Analytics Professional (CAP®) exam will be will be issued a “Record of Course Completion” by The Institute upon your request, after successfully completing the course.
ACE CREDIT / College Credit
Courses in your Mastery Program that have been endorsed by the American Council on Education (ACE) will be issued a “Record of Course Completion” by The Institute upon your request, after you successfully complete the course. Please note that the decision to accept specific credit recommendations is up to the academic institution accepting the credit.
For courses in your Mastery Program that have been endorsed by the American Council on Education (ACE), a digital badge will be made available upon successful completion of the course.