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Engineering Management > Chapter 3 > Flashcards

Chapter 3 Flashcards

1
Q
  • Provides methodical way of achieving desired results
  • Serves as a useful guide in the implementation of activities
A

Plan

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2
Q

“the management function that involves anticipating future trends and determining the best strategies and tactics to achieve organizational objectives”

A

Planning, according to Nickels and others

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3
Q

“the selection and sequential ordering of tasks required to achieve an organizational goal”

A

Planning, according to Aldag and Stearns

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4
Q

“deciding what will be done, who will do it, where, when and how it will be done and the standards to which it will be done”

A

Planning, according to Cole and Hamilton

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5
Q

Planning at Various Management Levels

A
  1. Top Management Level
  2. Middle Management Level
  3. Lower Management Level
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6
Q

Strategic planning

A

Top Management Level

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7
Q

Intermediate planning

A

Middle Management Level

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8
Q

Operational planning

A

Lower Management Level

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9
Q

Refers to the process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve these goals.

A

Strategic Planning

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10
Q

Refers to “the process of determining the contributions that sub units can make with allocated resources”

A

Intermediate Planning

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11
Q

Refers to “the process of determining how specific tasks can be best accomplished on time with available resources.”

A

Operational Planning

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12
Q

The Planning Process

A
  1. Setting organizational, divisional, or unit goals
  2. Developing strategies or tactics to reach those goals
  3. Determining resources needed and
  4. Setting standards
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13
Q

May be defined as the “precise statement of results sought, quantified in time and magnitude, where possible. “

A

Goals

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14
Q

First task of the engineer manager:

A
  • Provide a sense of direction to his:
     Firm (CEO)
     Division (heads a division)
     Unit (supervisor)
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15
Q

May be defined as “a course of action aimed at ensuring that the organization will achieve its objectives”

A

Strategy

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16
Q
  • Short-term action taken by management to adjust to negative internal or external influences
  • Formulated and implemented in support of the firm’s strategies
A

Tactic

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17
Q

Indicate the decision about short-term goals and the courses of action

A

Tactical Plan

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18
Q

May be defined as “a quantitative or qualitative measuring device designed to help monitor the performances of people, capital goods, or processes”

A

Standard

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19
Q

Types of Plan

A
  1. Functional Area Plans
  2. Plans with Time Horizon
  3. Plans According to Frequency of Use
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20
Q
A
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21
Q

this is a written document that states the quantity of output a company must produce in broad terms and by product family

A

Production Plan

21
Q

this is the written document or blueprint for implementing and controlling an organization’s marketing activities related to a particular marketing strategy

A

Marketing Plan

21
Q

Functional Area Plans

A
  1. Marketing Plan
  2. Production Plan
  3. Financial Plan
  4. Human Resource Management Plan
22
Q

it is a document that summarizes the current financial situation of the firm, analyzes financial needs, and recommends a direction for financial activities

A

Financial Plan

23
Q

it is a document that indicates the human resource needs of a company detailed in terms of quantity and quality and based on the requirements of the company’s strategic plan

A

Human Resource Management Plan

24
Q

Plans with Time Horizon consists of the following

A
  1. Short-range Plan
  2. Long-range Plan
25
Q

these are plans intended to cover a period of less than one year.

A

Short-range Plan

26
Q

these are plans covering a time span of more than one year. These are mostly undertaken by middle and top management

A

Long-range Plan

27
Q

Plans According to Frequency of Use classifications:

A
  1. Standing Plans
  2. Single-use Plans
28
Q

these are plans that are used again and again, and they focus on managerial situations that recur repeatedly

A

Standing Plans

29
Q

Standing Plans may be further classified into the following

A
  1. Policies
  2. Procedures
  3. Rules
30
Q

they are broad guidelines to aid managers at every level in making decisions about recurring situations or functions

A

Policies

31
Q

they are plans that describe the exact series of actions to be taken in a given situation

A

Procedures

32
Q

they are statements that either require or forbid a certain action

A

Rules

33
Q

These plans are specifically developed to implement courses of action that are relatively unique and unlikely to be repeated

A

Single-Use Plans

34
Q

Single-use plans may be further classified as follows:

A
  1. Budgets
  2. Programs
  3. Projects
35
Q

according to Weston and Brigham is “a plan which sets forth the projected expenditure for a certain activity and explains where the required funds will come from”

A

Budget

36
Q

is a single-use plan designed to coordinate a large set of activities

A

Program

37
Q

is a single-use plan that is usually more limited in scope that a program and is sometimes prepared to support a program

A

Project

38
Q

The Contents of a Marketing Plan

A
  1. The Executive Summary
  2. Table of Contents
  3. Situational Analysis and Target Market
  4. Marketing Objectives and Goals
  5. Marketing Strategies
  6. Marketing Tactics
  7. Schedules and Budgets
  8. Financial Data and Control
39
Q

Which presents overall view of the marketing project and its potential

A

The Executive Summary

40
Q

The Contents of Production Plan

A
  1. The amount of capacity the company must have
  2. How many employees are required
  3. How much material must be purchased
41
Q

The Contents of the Financial Plan

A
  1. Analysis of the firm’s current financial condition (as
    indicated by an analysis of the most recent
    statements)
  2. Sales Forecast
  3. Capital Budget
  4. Cash Budget
  5. Set of Pro Forma (or Projected) Financial
    Statements
  6. External Financing Plan
42
Q

The Contents of the Human Resources Plan

A
  1. Personnel requirements of the company
  2. Plans for recruitment and selection
  3. Training Plan
  4. Retirement Plan.
43
Q

Parts of the Strategic Plan

A
  1. Company or Corporate Mission
  2. Objectives or Goals
  3. Strategies
44
Q

refers to the “strategic statement that identifies why an organization exists, its philosophy of management, and its purpose as distinguished from other similar organizations in terms of products, services, and markets.

A

Company of corporate mission

45
Q

is done so that some desired results may be achieved

A

Planning

46
Q

Planning may be made successful if the following are observed:

A
  1. Recognize the planning barriers
  2. Use of aids to planning
47
Q

Planning Barriers according to Plunkett and Attner

A
  1. Manager’s inability to plan
  2. Improper planning process
  3. Lack of commitment to the planning process
  4. Improper Information
  5. Focusing on the present at the expense of the future
  6. Too much reliance on the planning department
  7. Concentrating on only the controllable variables
48
Q

Aids to planning:

A
  1. Gather as much information as possible
  2. Develop multiple sources of information
  3. Involve others in the planning process

Engineering Management (15 decks)

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