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OCSM303 > ch 3: Operations Strategy in a Global Environment > Flashcards

ch 3: Operations Strategy in a Global Environment Flashcards

1
Q

Project characteristics

A

Single unit
Many related activities
Difficult production planning/inventory control
General purpose equipment
High labor skills

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2
Q

Management of Projects
phases

A

planning
controlling
scheduling

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3
Q

planning

A

Goal setting, defining the project, team organization

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4
Q

Scheduling

A

Releates people, money, and supplies to specific activities and related activities to each other

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5
Q

controlling

A

Firm monitors resources, costs, quality, and budgets

Also revises or changes plans and shifts resources to meet time and cost demands

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6
Q

Planning
activities

A

Objectives
Resources
Work breakdown structure
Organization

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7
Q

Scheduling
activities

A

Project activities
Start and end times
Network

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8
Q

controlling activities

A

Monitor, compare, revise, action

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9
Q

Project planning

A

Establishing objectives
Defining a project
Creating work breakdown structure
Determining resources
Forming organization

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10
Q

Project organization

A

Often temporary schedule

Uses specialists from entire company

Headed by project manager
-Coordinates activities
-Monitors schedule and costs

Permanent structure called matrix organization

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11
Q

Project organization most helpful when

A

Work can be defined with a specific goal and deadline

The job is unique/unfamiliar to the existing organization

Contains complex interrelated tasks requiring specialized skills

Project is temporary but critical to the org

Project cuts across
organizational lines

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12
Q

The role of a project manager

A

reponsible for making sure..

All necessary activities are finished in order and on time

The project comes within the budget

Project meets quality goals

The ppl assigned to the project receive motivation, direction, and information

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13
Q

Project managers should be good

A

Good coaches
Good communiters
Able to organize activities a variety of disciplines

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14
Q

ethical issues

A

Proj. management institute has established ethical code to deal w problems such as

Offers of gifts from contractors

Pressure to alter status reports to mask delays

False reports for chargers of time and expenses

Pressure to compromise quality to meet schedules

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15
Q

Work breakdown structure

A

1-project
2-major tasks in the project
3-subtasks in the major tasks
4-activities to be completed

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16
Q

Project scheduling techniques

A

Ensure that all activities are planned for

Order of performance is accounted for

Activity time estimates are recorded

Overall project time is developed

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17
Q

Purposes of project scheduling

A

Shows the relationship of each activity to others and to the whole project

Identifies the precedence relationships among activities

Encourages the setting of realistic time and cost estimates for each activity

Helps make better use of ppl, money, and material resources by identifying critical bottlenecks in the project

18
Q

Actual project scheduling techniques

A

Gantt chart
Critical path method (CPM)
Program evaluation and review technique (PERT)

19
Q

Project controlling

A

Close monitoring of resources, costs, quality, budgests
Feedback enables revising the project plan and shift resources
Computerized tools produce extensive reports

20
Q

Project management software

A

Oracle primavera
Hp project
Fast track
Microsoft project

21
Q

Project control reports

A

Detailed cost breakdowns for each task
Labor requirements
cost/hour summaries
Raw material/expenditure forecasts
Variance reports
Time analysis reports
Work status reports

22
Q

Well defined (waterfall projects)

A

Extensive planning
Known constraints
Well defined specifications

23
Q

Ill defined (agile projects)

A

Many unknowns
Evolving technology and specifications
Project developed iteratively and incrementally

24
Q

pert and cpm

A

Network techniques

Developed in 1950s

Consider precedence relationships and interdependencies

Each uses a different estimate of activity times

25
Q

Six Steps PERT and CPM

A

Define the project and prepare the work breakdown structure

Develop relationships among the activities – decide which activities must precede and which must follow others

Draw the network connecting all of the activities

Assign time and/or cost estimates to each activity

Compute the longest time path through the network – this is called the critical path

. Use the network to help plan, schedule, monitor, and control the projec

26
Q

Questions PERT and CPM Can Answer

A

When will the entire project be completed?

What are the critical activities or tasks in the project?

Which are the noncritical activities?

What is the probability the project will be completed by a specific date?

Is the project on schedule, behind schedule, or ahead of schedule?

Is the money spent equal to, less than, or greater than the budget?

Are there enough resources available to finish the project on time?

If the project must be finished in a shorter time, what is the way to accomplish this at least cost?

27
Q

Perform a Critical Path Analysis

A

The critical path is the longest path through the network

The critical path is the shortest time in which the project can be completed

Any delay in critical path activities delays the project
Critical path activities have no slack time

28
Q

ES (earliest start)

A

earliest time at which an activity can start, assuming all predecessors have been completed

29
Q

EF (earliest finish)

A

earliest time at which an activity can be finished

30
Q

LS (latest start)

A

latest time at which an activity can start so as to not delay the completion time of the entire project

31
Q

LF (latest finish)

A

latest time by which an activity has to be finished so as to not delay the completion time of the entire project

32
Q

Forward Pass Earliest Start Time Rule

A

If an activity has only a single immediate predecessor, its ES equals the EF of the predecessor

If an activity has multiple immediate predecessors, its ES is the maximum of all the
EF values of its predecessors

ES = Max {EF of all immediate predecessors}

33
Q

foward pass Earliest Finish Time Rule:

A

The earliest finish time (EF) of an activity is the sum of its earliest start time (ES) and its activity time

EF = ES + Activity time

34
Q

Backward Pass Latest Finish Time Rule

A

If an activity is an immediate predecessor for just a single activity, its LF equals the LS of the activity that immediately follows it

If an activity is an immediate predecessor to more than one activity, its LF is the minimum of all LS values of all activities that immediately follow it

LF = Min {LS of all immediate following activities}

35
Q

Backward Pass Latest Start Time Rule:

A

The latest start time (LS) of an activity is the difference of its latest finish time (LF) and its activity time

LS = LF − Activity time

36
Q

Computing slack time

A

Slack is the length of time an activity can be delayed without delaying the entire project

Slack = LS − ES or Slack = LF − EF

37
Q

Variability in activity times

A

CPM assumes we know a fixed time estimate for each activity and there is no variability in activity times

PERT uses a probability distribution for activity times to allow for variability

38
Q

3 time estimates are required

A

Optimistic time (a) – if everything goes according to plan

Pessimistic time (b) – assuming very unfavorable conditions

Most likely time (m) – most realistic estimate

39
Q

PERT makes two more assumptions:

A

Total project completion times follow a normal probability distribution

Activity times are statistically independent

40
Q

Factors to Consider When Crashing a Project

A

The amount by which an activity is crashed is, in fact, permissible

Taken together, the shortened activity durations will enable us to finish the project by the due date

The total cost of crashing is as small as possible

40
Q

Pros of pert/cpm

A

Especially useful when scheduling and controlling large projects

Straightforward concept and not mathematically complex

Graphical networks help highlight relationships among project activities

Critical path and slack time analyses help pinpoint activities that need to be closely watched

Project documentation and graphics point out who is responsible for various activities

Applicable to a wide variety of projects

Useful in monitoring not only schedules but costs as well

41
Q

Cons of pert/cpm

A

Project activities have to be clearly defined, independent, and stable in their relationships

Precedence relationships must be specified and networked together

Time estimates tend to be subjective and are subject to fudging by managers

There is an inherent danger of too much emphasis being placed on the longest, or critical, path

OCSM303 (6 decks)

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