What is "quantitative management theory"?


Quick Answer

According to Education Portal, quantitative management theory is a management system which relies on data, models and statistics. A modern theory which took root after WWII, QMT synthesizes the fields of management information systems, management science, operations management and systems management theory.

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Full Answer

As the University of Nairobi points out, QMT was first used by the British and American military during WWII. Statistical analysis allowed those running the war to make mathematically-based decisions regarding deployment of equipment, submarines and troops. Modern interpretations of QMT allow for better understanding of organizational processes, especially in planning, decision-making and controlling. However, the quantitative techniques used do not completely account for individual behaviors.

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