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Engineering Management > Chapter 2 > Flashcards

Chapter 2 Flashcards

1
Q

The engineer manager’s _______ will be very crucial to his success as a professional

A

decision-making skills

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2
Q

will provide the right environment for continuous growth and success of any organized effort

A

Good Decisions

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3
Q

must be made at various levels in the workplace

A

decisions

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4
Q

the process of identifying and choosing alternative courses of action in a manner appropriate to the demands of the situation

A

Decision-making

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5
Q

Rational decision making, according to _________

A

David H. Holt

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6
Q

Decision-making process

A
  1. diagnose problem
  2. analyze environment
  3. articulate problem or opportunity
  4. develop viable alternatives
  5. evaluate alternatives
  6. make a choice
  7. implement decision
  8. evaluate and adapt decision results
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7
Q

is tantamount to having the problem half-solved

A

identification of the problem

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8
Q

exists when there is a difference between an actual situation and a desired situation

A

problem

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9
Q

its objective is the identification of constraints, which may be spelled out as either internal or external limitations

A

environmental analysis

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10
Q

Examples of internal limitations

A

limited funds, limited training, ill-designed facilities

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11
Q

Examples of external limitations

A

patents, limited market, strict enforcement of local zoning regulations

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12
Q

components of the environment

A

internal and external

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13
Q

refers to organizational activities within a firm that surrounds decision-making

A

internal environment

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14
Q

refers to variables that are outside the organization and not typically within the short-run control of top management

A

external environment

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15
Q

procedure in developing viable alternatives

A

prepare a list of alternative solutions, determine viability of each solution, revise the list

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16
Q

proper _____ makes choosing the right solution less difficult

A

evaluation

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17
Q

suggested that each alternative must be analyzed and evaluated in terms of its value, cost, and risk characteristics

A

William Emerson Sauder

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18
Q

refers to benefits that can be expected

A

value of alternatives

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19
Q

refers to out-of-pocket costs, opportunity costs, and follow-on costs

A

cost of the alternative

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20
Q

refer to the likelihood of achieving the goals of the alternatives

A

risk charateristics

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21
Q

refers to the process of selecting among alternatives representing potential solutions to a problem

A

Choice-making

22
Q

refers to carrying out the decision so that the objectives sought will be achieved.

A

Implementation

23
Q

refers to the process which requires checking at each stage of the process to assure that the alternatives generated, the criteria used in evaluation. and the solution selected for implementation are in keeping with the goals and objectives

A

Feedback

24
Q

refers to actions made to ensure that activities performed match the desired activities or goals

A

Control

25
Q

Approaches in solving problems

A

qualitative evaluation, quantitative evaluation

26
Q

this term refers to evaluation of alternatives using intuition and subjective judgement

A

qualitative evaluation

27
Q

this terms refers to the evaluation of alternatives using any technique in a group classified as rational and analytical

A

Quantitative evaluation

28
Q

Quantitative Models

A
  1. Inventory Models
  2. Queuing Theory
  3. Network Models
  4. Forecasting
  5. Regression Analysis
  6. Simulation
  7. Linear Programming
  8. Sampling Theory
  9. Statistical Decision-Theory
29
Q

consist of several types all designed to help the engineer manager make decisions regarding inventory

A

inventory models

30
Q

types of inventory models

A
  1. economic order quantity model
  2. production order quantity model
  3. back order inventory model
  4. quantity discount model
31
Q

used to calculate the number of items that should be ordered at one time to minimize the total yearly cost of placing orders and carrying the items in inventory

A

economic order quantity model

32
Q

economic order quantity technique applied to production orders

A

production order quantity model

33
Q

inventory model used for planned shortages

A

back order inventory model

34
Q

used to minimize total cost when quantity discounts are offered by suppliers

A

quantity discount model

35
Q

describes how to determine the number of service units that will minimize both customer waiting time and cost of service

A

Queuing Theory

36
Q

models where large complex tasks are broken into smaller segments that can be managed independently

A

Network Models

37
Q

Two most prominent network models

A

Program Evaluation Review Technique (PERT), Critical Path Method (CPM)

38
Q

a technique which enables engineer managers to schedule, monitor, and control large and complex projects by employing three time estimates for each activity

A

PERT

39
Q

technique using only one time factor per activity that enables engineer managers to schedule, monitor, and control large and complex projects

A

CPM

40
Q

the collection of past and current information to make predictions about the future

A

Forecasting

41
Q

a forecasting method that examines the association between two or more variables

A

Regression Model

42
Q

may be simple or multiple depending on the number of independent variables

A

Regression Analysis

43
Q

it is when one independent variable is involved

A

simple regression

44
Q

it is when two or more independent variables are involved

A

multiple regression

45
Q

a model constructed to represent reality, on which conclusions about real-life problems can be used

A

Simulation

46
Q

is a quantitative technique that is used to produce an optimum solution within the bounds imposed by constraints upon the decision

A

Linear Programming

47
Q

quantitative technique where samples of populations are statistically determined to be used for a number of processes, such as quality control and marketing research

A

Sampling Theory

48
Q

rational way to conceptualize, analyze, and solve problems in situations involving limited, or partial information about the decision environment

A

Decision Theory

49
Q

to revise and update the initial assessments of the event probabilities generated by alternative solutions

A

Bayesian Analysis

50
Q

selects the decision alternative having the maximum expected payoff, or the minimum expected loss if he is working with a loss table

A

Bayes Criterion

Engineering Management (7 decks)

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