University Senate Proposed: September 16, 2005

Adopted:

RESOLUTION TO ESTABLISH A MASTER OF SCIENCE DEGREE IN ENGINEERING MANAGEMENT SYSTEMS

WHEREAS the Education Committee has favorably reviewed a proposal from the Fu Foundation School of Engineering and Applied Science to establish the M.S. in Engineering Management Systems to be administered by the Department of Industrial Engineering and Operations Research, and

WHEREAS the committee is satisfied that the proposal has the support of the Fu Foundation School of Engineering and Applied Science Committee on Instruction, and

WHEREAS the need for the proposed program is evident from recent publications in the engineering press and from requests by executives from a wide variety of companies to develop a program with a strong emphasis on engineering and managerial methodologies, and

WHEREAS the Department of Industrial Engineering and Operations Research is well positioned to offer this program;

THEREFORE BE IT RESOLVED that the Fu Foundation School of Engineering and Applied Science be authorized to offer the M.S. in Engineering Management Systems, with the proviso that the Education Committee will review the program in five years.

Proponent:

Education Committee

Summary of the proposed program

The purpose of the proposed Master of Science program in Engineering Management Systems (EMS) is to provide students with a curriculum that emphasizes both technology and management perspectives in solving problems, making decisions, and managing risks in complex systems. This new program will have two concentrations:

(i) Logistics and Supply Chain Optimization (LSCO);

(ii) Revenue and Risk Management (RRM).

This focus is shaped by a sizable number of our graduates who have followed very successful career paths in engineering management, risk management and consulting, as well as in the securities, banking and insurance industries.

The IEOR department already offers a very popular EMS program at the Bachelor of Science level (with annual enrollment consistently above 50 students). Offering a similar program at the Master of Science level will serve well the needs of many of our own graduates as well as working professionals in this region and beyond.

Students pursuing this new degree program will be provided with a rigorous exposure to deterministic optimization and stochastic modeling, a basic coverage of applications in the areas of operations engineering and management, and an in-depth coverage of applications in the areas of the selected concentration. Graduates from this program are expected to assume positions as business analysts in logistics, supply chain, revenue management, and consulting firms, and as financial analysts in risk management departments of investment banks, hedge funds, and credit card and insurance firms.

The proposed program will require a total of ten three-credit courses, which can be taken in two semesters of full-time studies. Students will be able to enroll full-time or part-time. We plan to offer most courses in both concentrations via Columbia Video Network (CVN). Admissions and degree requirements will be similar to other existing IEOR M.S. programs.

IEOR faculty, Professors Huh, Gallego, Kachani, Shahabuddin, Stein, and Yao (Program Director) will be primarily responsible for the curriculum and student advising. Starting with a first-year enrollment of 24 students (around 12 students per concentration), the program is expected to grow to an equilibrium size of 48 by the fourth year. A modest amount of startup funds is required and will be covered by the IEOR department. Almost all required courses listed in the curriculum are already offered. Major adjustments to current teaching assignments are not needed.

Program Content and Requirements

The basic requirement of the degree is ten three-credit courses (two semesters of full-time study) with the stipulations detailed below.

For the Concentration in Logistics and Supply Chain Optimization (LSCO), students have to take:

Both of the following two required courses:

- IEOR E4004: Introduction to OR: Deterministic Models

- IEOR E4106: Introduction to OR: Stochastic Models

At least three courses from the following:

- IEOR E4000: Production Management

- IEOR E4003: Industrial Economics or IEOR E4403: Advanced Engineering and Corporate Economics.

- IEOR E4210: Supply Chain Management

- IEOR E4418: Logistics and Transportation Management

And at least two courses from the following:

- IEOR E4407: Game-Theoretical Models of Operations

- IEOR E4409: Industrial Information Systems

- IEOR E4307: Industrial Forecasting

- IEOR E4404: Simulation

- IEOR E4405: Production Scheduling

- IEOR E4412: Quality Control and Management

- IEOR E4700: Introduction to Financial Engineering

- IEOR E4705: Studies in Operations Research

- IEOR E4998: Managing Technological Innovation

- (New) Dynamic Pricing and Revenue Optimization

For the Concentration in Revenue and Risk Management (RRM), students have to take:

All four courses below:

- IEOR E4004: Introduction to OR: Deterministic Models

- IEOR E4106: Introduction to OR: Stochastic Models

- (New) Dynamic Pricing and Revenue Optimization

- (New) Risk Management

At least three courses from the following:

- IEOR E4003: Industrial Economics or IEOR E4403: Advanced Engineering and Corporate Economics.

- IEOR E4404: Simulation

- IEOR E4700: Introduction to Financial Engineering

- SIEO W4801: Introduction to Property-Liability Insurance Models

- SIEO W4802: Introduction to Life Insurance & Aggregate Loss Models

And at least one course from the following:

- IEOR E4407: Game-Theoretical Models of Operations

- IEOR E4210: Supply Chain Management

- IEOR E4307: Industrial Forecasting

- IEOR E4409: Industrial Information Systems

- IEOR E4418: Logistics and Transportation Management

- IEOR E4705: Studies in Operations Research

Note that at most one of IEOR E4003 and IEOR E4403 is counted towards the master’s degree.

Also note that in the future, we anticipate adding more domain specific courses (e.g. mini-courses on special topics in risk management).

All of the above courses are neither new nor revised, unless otherwise noted.

Sample Program Scheduling

Using the appropriate table, show the sequencing and scheduling of courses and credits in the program, by semester or quarter/trimester, for the first full cycle of the program (for example, four semesters for a traditionally-structured associate degree). Include additional semesters if offered on a part- time basis.

Table for semester programs

Concentration in LSCO				Concentration in RRM
FALL		SRPING		FALL		SPRING
COURSE TITLE	CREDITS	COURSE TITLE	CREDITS	COURSE TITLE	CREDITS	COURSE TITLE	CREDITS
IEOR E4004 Introduction to OR: Deterministic Models	3	IEOR E4210: Supply Chain Management	3	IEOR E4004 Introduction to OR: Deterministic Models	3	(New) Dynamic Pricing and Revenue Optimization	3
IEOR E4106 Introduction to OR: Stochastic Models	3	IEOR E4418: Logistics and Transportation Management	3	IEOR E4106 Introduction to OR: Stochastic Models	3	(New) Risk Management	3
IEOR E4000: Production Management	3	IEOR E4404: Simulation	3	IEOR E4003: Industrial Economics	3	IEOR E4307: Industrial Forecasting	3
IEOR E4003: Industrial Economics	3	IEOR E4405: Production Scheduling	3	IEOR E4700: Introduction to Financial Engineering	3	IEOR E4405: Production Scheduling	3
IEOR 4407: Game-Theoretical Models of Operations	3	IEOR 4412: Quality Control and Management	3	SIEO W4801: Introduction to Property-Liability Insurance Models	3	SIEO W4802: Introduction to Life Insurance & Aggregate Loss Models	3
Total Credits	15	Total Credits	15	Total Credits	15	Total Credits	15