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12 Cards in this Set
- Front
- Back
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Why can we run into shortages?
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Because demand is random in nature
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What do you have to understand for a random variable?
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You must understand the distribution. For a random variable, the distribution is a normal distribution.
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Project
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An endeavor with specific objectives and multiple activities with defined precedence relationships to be completed with in limited duration.
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Project management
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Involves planning, scheduling, and controlling a project. It's goal is to ensure objectives are achieved on time and on budget.
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What is a project?
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A project is a one time operational activity
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Project planning
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When you plan you must understand the objectives and goals of the project.
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WBS
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Work breakdown structure.
With this approach we have a project. To complete the project we will always have a project leader who will be responsible for the project. They will divide the project into different modules depending on the nature. Project leader appoints a person to complete each part. |
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Critical path method
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Developed to coordinate maintanance projects in the chemical industry. A complex undertaking but individual tasks are routine. Tasks duration = deterministic.
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Program Evaluation and Review techniques
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Developed to manage the Polaris missle project. Many tasks pushed boundaries of science and engineering. Task duration - probabalistic
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What type of diagrams are used to represent the project?
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NEtwork diagrams.
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Which path will determine completion time?
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The longest path
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Critical activities
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Are activities which have no slack There is no room for delay. The beauty of knowing these is then you know if your project is going to be behind. Non-critical activities can be robbed of their resources. IF you take too many resources, then you will make the non-critical activity a critical activity.
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