Customer Reviews

Practical Management Science: Spreadsheet Modeling and Applications

5 star:		(5)
4 star:		(2)
3 star:		(1)
2 star:		(1)
1 star:		(1)

 

 

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.

This book focuses on several management science modeling problems and explains clearly how to implement them with Excel.

Winston teaches you how to employ standards (colors, borders, etc) to make your spreadsheet more professional. You will learn much about Excel even if you are not interested in management science models.

Contrary to Optimization and Operations Research books, it does not worry about algorithm details, being directed mainly to develop the student modeling skills.

Then, if your goal is to find a text that contains excel-based ways of solving managerial problems, and you are not concerned with solver details (simplex method, transport algorithms, nonlinear programming algorithms, interior point methods) this book is for you.

Another information: Chris Albright has a Modeling book directed to people that want to learn how to use VBA in modeling, that is, if you are a "want to be advanced" Excel user. He says that his VBA book is the natural next step to "Practical Management Science".

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.

Used this book in B-school and loved modeling using @Risk (@Risk is the modelling software that comes with the book - pretty much self intuitive). My only complain with this book is that it was very focused on getting to the answer fast than really exaplaining the process and modeling techniques. After doing few examples you start to develop the intuition ... but I feel that the author could have done a better work in explaing the process behing modeling.

By incorporating Microsoft Excel spreadsheet examples of the problems, the authors have managed to make self-study management science possible. I'm absolutely convinced this is the best way to learn MS.
Anyone that has responsibility for making business decisions should keep a copy of this text nearby.

Previous reviews inspired me for the purchase. This book is NOT MBA material. I would rate it at Business 101 book. Most spreadsheet models are basically the same using the SOLVER function in excel. There are better tutorials online.

I have been using this book for over 3 years now and I still love it.

Very practical and has excellent details.

Only negatives are some editing failures with some exercises, and some of the chapters rely heavily upon some trial software that you may not want to use.

This gives a great introduction to Excel modelling while also introducing some basic and not so basic business management principles.
I would advise anyone to get this book as preparation for an MBA or to help train people in modelling.
The author provides good background and some interesting problems to solve.
Well worth the investment.

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.

It is full of errors. The explanations are difficult to follow. There are few highlights in the text which makes scanning for a quick review impossible. There is no chapter summary. The book presumes a thourough knowledge of Excel which many students do not have. Stay away!