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Practical Management Science: Spreadsheet Modeling and Applications

Practical Management Science: Spreadsheet Modeling and Applications

List Price: $104.95
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Product Info Reviews

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Rating: 5 stars
Summary: Very Pleased
Review: I am a business unit manager who frequently purchases books and software to maintain my level of competence in operations management, and I recently purchased the second edition of this book, copyright 2001. I have found it to be a great value, and agree with the reviewers the earlier edition who found it to be a very fine text on Operations Research. It comes with the standard version of Palisade's Decision Tools software, which is just outstanding. I wouldn't hesitate to recommend this book to anyone. Additionally, there's an option to upgrade to a fully licensed edition of this software at a greatly reduced price; the student version that comes with the book is fully functional, but is only licensed one year for students, 30 days for professionals. Microsoft doesn't give their software away for free either.

Rating: 5 stars
Summary: Very Pleased
Review: I am a business unit manager who frequently purchases books and software to maintain my level of competence in operations management, and I recently purchased the second edition of this book, copyright 2001. I have found it to be a great value, and agree with the reviewers the earlier edition who found it to be a very fine text on Operations Research. It comes with the standard version of Palisade's Decision Tools software, which is just outstanding. I wouldn't hesitate to recommend this book to anyone. Additionally, there's an option to upgrade to a fully licensed edition of this software at a greatly reduced price; the student version that comes with the book is fully functional, but is only licensed one year for students, 30 days for professionals. Microsoft doesn't give their software away for free either.

Rating: 5 stars
Summary: Good hands-on book
Review: I am a student at a very hands-on university and this book fit in perfectly into one of my classes. A professor used this book as a reference in my graduate Operations Research class. I was so intrigued by the step-by-step examples, I went out and bought the book to learn more. The book goes over the basic applications of Operation Research used in Excel which makes the application of what is learned easier to apply outside of class. The step-by-step examples really help when applying what is learned to the excercises.

Rating: 3 stars
Summary: Good Pratical Book
Review: I began using this book when I was a part time lecturer while working on my Ph.D. Now that I'm an Assistant Professor I get a chance to review most of the new books that deal with OR/MS. It is surprising that none of those can even come close to the quality of this book. What I enjoy most about it is the amazing clarity with which it explains concepts that would usually force students to run to the hills. In addition, its extensive use of spreadsheets helps the teacher to present the material in a more practical way. Without reservation I recommend it to anyone teaching an OR/MS course at an undergraduate (or even MBA) level.

Rating: 5 stars
Summary: Good hands-on book
Review: I own both editions where I belive the 1st edition is better than their second. I don't particular like their new approach in teaching network modeling; it's non-intuitive. The first edition was a bit more 'logical' and easier to set up than the approach use in their 2nd edition. Secondly, their use of the Palisade @Risk is definitely a good choice, but the time lock (1 year if registered online) somewhat deflates the enthusiasm knowing that at some future date your software will cease to work. I bought the @129 upgrade but jumped through hoops with palisades (their authorization code did not undo the time lock and tech support argued that it was a publisher issue--in the long run they discovered a problem with the software where it was not taking the time lock off the application as designed.) I do like the 2nd edition's choice of larger fonts and the broader examples. I am still yet disappointed that unlike many other quality text books, the text does not include answers to 'odd' or even selected problems. I don't think the authors realize that their text is used by professionals looking to develop workplace skills and are not necessarily enrolled in a formal academic setting. Nevertheless, I bought the second edition because I think management science is a terribly valuable skill to have and that the authors have published the best book in the area of MS.

Rating: 4 stars
Summary: Not as good as the first edition
Review: I own both editions where I belive the 1st edition is better than their second. I don't particular like their new approach in teaching network modeling; it's non-intuitive. The first edition was a bit more 'logical' and easier to set up than the approach use in their 2nd edition. Secondly, their use of the Palisade @Risk is definitely a good choice, but the time lock (1 year if registered online) somewhat deflates the enthusiasm knowing that at some future date your software will cease to work. I bought the @129 upgrade but jumped through hoops with palisades (their authorization code did not undo the time lock and tech support argued that it was a publisher issue--in the long run they discovered a problem with the software where it was not taking the time lock off the application as designed.) I do like the 2nd edition's choice of larger fonts and the broader examples. I am still yet disappointed that unlike many other quality text books, the text does not include answers to 'odd' or even selected problems. I don't think the authors realize that their text is used by professionals looking to develop workplace skills and are not necessarily enrolled in a formal academic setting. Nevertheless, I bought the second edition because I think management science is a terribly valuable skill to have and that the authors have published the best book in the area of MS.

Rating: 5 stars
Summary: This text is without peer in MS but has wider applicability.
Review: Unlike most textbooks on OR/MS, Winston and Albright's Practical Management Science's has, at least, three clear possible roles -- each performed superbly. 1. As a self-study text for someone learning / relearning management science in a spreadsheet environment. 2. As a management science student's self-help resource to decipher whatever cryptic text happens to have been required for a course. 3. As a conventional textbook to be chosen by an academic for classroom use.

1. As a self-study text for someone learning / relearning management science in a spreadsheet environment, you'll find PMSc written with obvious and utter mastery of the subject matter, that's commendable but hardly unique. What is unique are the clarity of the presentation and the lucidity of the abundant examples running throughout. In addition, there is thoroughness in the treatment which effectively anticipates virtually any and all sources of confusion which a student of any stripe might suffer. It is, in my view, wholly autodidactic. There is a subset of this type of user: the individual with a job-specific task which defies current familiarity / skill-level. No sweat! Use the inside-the-front cover material as a functional area task locator to identify "look-alike" situations and then proceed to master all which is required by back-tracing the example to similar situations encapsulated within the many interspersed problems -- for each of which there is a complete Excel solution format.

2. As a management science student's self-help resource with which to cope and to decipher whatever cryptic text was assigned for the course. If you find yourself in this far too common dilemma, take heart, help is well and truly at hand. Skim the TOC, find the relevant chapter and enjoy basking in your fast-welling, new-found competence. PMSc will provide ample basis for warranting a celebration at the local "pub" -- or whatever passes for same in your locale.

3. "As a conventional textbook to be chosen by an academic for classroom use" was the category into which I "fell." To my dismay, I recently found myself assigned, on extremely short notice, to teach a comprehensive course on MS/OR. I found our standard two-volume text decidedly off-putting and could only conclude that my students would likely as well. As my background includes accounting, finance, and computer systems, I knew that I wanted a spreadsheet-based textbook for the course. As at most schools, MS is under fire for "relevance" and "accessibility," compounded here through the "mix" of students for my various sections: MBA, EMBA, and MS/MOT (latter all engineering degreed).

Suffice it to say that the classes proved complete successes: the students petitioned the Dean to have an advanced management science course added to the curriculum which I'm teaching this (fall '98) semester. In addition to covering the chapters / chapter sections omitted from the "introductory" course, we're using PMSc as the primary text with Bodily, Carraway, et al's excellent QBA case book for facilitating the integration of MS with finance, marketing, operations, and strategy.

As a sidebar: Most of my MBA students were from one of our "dedicated" MBA programs. These manager / students have apparently provided many of their subordinates with copies of PMSc. Their experience had regularly been that they were using on Monday the material I had "taught" them on Saturday.

As if this weren't enough praise, I'm using PMSc as a supplemental text in my finance courses because of its lucid and extensive coverage of @RISK and for the extensive finance material provided. This is proving extremely popular with my students.

As you might infer, I think that PMSc is without peer as the best and most effective text for learning how to actually perform REAL management science without tears or undue ancillary learning. I've yet to have a student who was not wildly enthusiastic about PMSc (that's not hyperbole) -- when's the last time you've had THAT experience?

I'd be happy to hear from anyone buying this text -- I really WANT to hear from anyone buying this text who is less than completely satisfied.


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