Master of Commerce (M.Com.) Operations Research Syllabus - Mumbai University 2026

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Syllabus for Operations Research

Elective course · Semester 3 · M.Com. Advance Accountancy · 4 credits · 100 marks

Module I: (2CREDITS)

Unit 1
Definition and scope of operation research, Multidisciplinary nature of operation
research , Distinction between operation research and operations management
Applications of operation research in various fields : Manufacturing (production
planning, inventory control, quality management), Logistics and transportation
(vehicle routing, network design, scheduling), Finance and economics (portfolio
optimization, risk management, decision analysis) , Healthcare (resource allocation, facility location, patient scheduling) and Energy and environment (energy planning, emissions control, waste management)
Phases of an operation research study: Problem formulation and definition Data
collection and analysis, Model development and selection, Solution techniques and Validation and significance analysis and Implementation & monitoring.
Practical Illustrations on Tests of Significance: Cronbach Alpha, Chi-Square, Paired
T- Test, T – Test, ANOVA , ANCOVA and Factor Analysis.
Unit 2 Job Sequencing 
Introduction, Definition, Assumptions and Applicability. 
Types and Solution of Sequencing Problems: a) ‘n’ jobs are to be processed on two
machines say machine A and machine B in the order AB. This means that the job is to be processed first on machine A and then on machine B. (b) ‘n’ jobs are to be
processed on three machines A,B and C in the order ABC i.e. first on machine A, second on machine B and third on machine C. (c) ‘n’ jobs are to be processed on ‘m’
machines in the given order.(d) Two jobs are to be processed on ‘m’ machines in the given order. ( Practical Illustrations)

Module II: (2CREDITS)

Unit 3 Replacement Model 
Introduction, Types of Failure: Gradual failure and (ii) Sudden failure, Bathtub Curve, Cost associated with Maintenance and Types of Replacement problems: Human
Resource, Machines and Building. 
Approaches to Replacement Model: Actual Cost of item, Direct costs of labour
involved in replacement. Practical problems: (a) Replacement of Items whose
Maintenance Cost Increases with Time and the Value of Money Remains Same
During the Period (b) Replacement of Items whose Maintenance Costs Increases with Time and Value of Money also Changes with Time (c) Replacement of Items whose
Maintenance Cost Increases with Time and Money Value also Changes and Group
Replacement of Items.
Unit 4 Decision Theory
Introduction, What is Decision, Decision and Conflict, Classification of decision, Steps in Decision Theory Approach.
Practical Illustrations on: Decision making under Certainty, Decision making under Risk, Decision making under Uncertainty, Criterion of Optimism, Criterion of Pessimism, Criterion of Regret, Equal Probability Criterion, Decision under conflict
and competition, Hurwicz Criterion and Decision Tree (Stochastic Decision Tree).

Reference Books

Introduction to Operations Research by Frederick S. Hiller and Gerald J. Lieberman (10th Edition)
Operations Research: Applications and Algorithms by Wayne L. Winston (4th Edition)
Queuing Theory by J. Richard Jackson
Introduction to Stochastic Programming by John R. Birge and Francois Louveaux.
Operations Research: P. Rama Murthy
Statistics: The Art and Science of Learning from Data by Daryl Pregibon (Fourth Edition)
Statistical Rethinking: A Bayesian Course with Examples in R and Stanby Richard McElreath  The Elements of Statistical Learning by Trevor Hastie, Robert Tibshirani, and Jerome Friedman. Paper Pattern for 4 Credits: Sr No Nature of Bifurcation of Marks Total Examination Marks I Continuous Evaluation Sr No Examination Marks 1 Class Test 20 2 Project Presentation / Viva / 20 Assignment / Case Study 3 Active Attendance & 10 Participation 2 Semester End Question Paper Pattern Unit Marks No 1 Solve ( 1 out of 2) I 14 2 Solve ( 1 out of 2) II 12 3 Solve ( 1 out of 2) III 12 4 Solve or Short IV 12 Notes ( 1 out 2 ) For Theory Subjects ,question per unit may be Sub Divided into 4 marks each from sub modules Total 100 Paper Pattern for 2 Credits: Sr No Nature of Bifurcation of Marks Total Examination Marks I Continuous Evaluation Sr No Examination Marks 1 Class Test 10 2 Project Presentation / Viva / 10 Assignment / Case Study 3 Active Attendance & 05 Participation 2 Semester End Question Paper Pattern Unit Marks No 1 Solve (1 out of 2) I 13 2 Solve ( 1 out of 2) II 12 For Theory Subjects ,question per unit may be Sub Divided into 4 marks each from sub modules Total 50 Paper Pattern (Total 50 Marks) Internal = 25 Marks External = 25 Marks Internal Paper Pattern (25 Marks) Q1. Project Presentation/ Case Study writing 05 Marks Q2. Quiz/ Group discussion 05 Marks Q3. Paper Presentation/ Seminar presentation 05 Marks Q4. Class Test 10 Marks Total 25 Marks External Paper Pattern (25 Marks) Q1. Case Study Analysis 05 Marks Q2. Answer the following (Any One) 10 marks A Or B Q3. Answer the following (Any One) 10 Marks A Or B Total 25 Marks Paper Pattern (Total 100 Marks) Internal = 50 Marks External = 50 Marks Internal Paper Pattern (50 Marks) Q1. Project Presentation/ Case Study writing 10 Marks Q2. Quiz/ Group discussion / Role Playing 10 Marks Q3. Paper Presentation/ Seminar presentation 10 Marks Q4. Class Test 20 Marks Total 50 Marks External Paper Pattern (50 Marks) Q1. Case Study Analysis 10 Marks Q2. Answer the following (Any One) 10 marks A Or B Q3. Answer the following (Any One) 10 Marks A Or B Q4. Answer the following (Any One) 10 marks A Or B Q5. Answer the following (Any One) 10 marks A Or B Total 50 Marks Letter Grades and Grade Points:

Reproduced from the University of Mumbai syllabus for M.Com. (Advance Accountancy) under NEP 2020, in force from the academic year 2023-24. Wording is as printed in that syllabus. Module numbering is as printed there too.

The complete syllabus

This subject is cut from the University circular for its specialisation. Open a document here if you want the whole thing rather than a single subject.

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