Introduction to Engineering Management Flashcards
(100 cards)
The career in which the knowledge gained from research, experience, and practice of mathematical and natural science is applied with judgment to establish ways of using economically, the materials and forces of nature for the benefit of humanity.
Engineering
A set of activities (including planning and decision-making, organizing, leading, and controlling) focused at the resources of an organization (human, financial, physical, and information) in order to effectively achieve organizational objectives.
Management
It is a specialized form of management that is required to successfully lead engineering or technical personnel and projects.
Engineering Management
The term can be used to describe either functional management or project management.
Engineering Management
It refers to the activity combining “technical knowledge with the ability to organize and coordinate worker power, materials, machinery, and money.”
Engineering Management
those in positions of authority who make decisions to commit their resources of others towards the achievement of the objectives of an organization.
managers
It is someone whose primary responsibility is to carry out the management process.
manager
It is someone who plans and makes decisions, organizes, leads, and controls human, financial, physical, and information resources.
manager
__________ and ________ make conscious decisions to set and achieve objectives.
management, managers
____________ is a critical part of all management activities.
decision making
It is a group of two or more individuals that exists and works to achieve widely held goals that are clearly defined.
organization
It means using resources wisely and without unnecessary waste.
efficient
It means doing the right things successfully.
effective
Basic Elements of Management
- objectives
- financial, human, and material resources of management (The 5Ms of Management
- People
are goals - target to school for states of being or places to be reach through plans and finally actions
objectives
are the targets for the achievement of which management tasks are driven
objectives
It is only possible by the setting of targets, and all management efforts should be geared towards achieving these goals.
effective management
________ constitute the purpose, the attainment of which is necessary for the business.
objectives
It is a pre-requisite for planning.
objectives
What are the 5Ms of management?
money, manpower, materials, machines, methods
The financial resource of an organization which is its base and foundation.
money
It is the most critical and all-purpose resource because it is used to acquire or hire other resources.
money
In organization, ______ is employed to generate more money in the form of profits or surplus.
money
A business firm or enterprise requires money in the form of _______ and _____.
fixed capital, working capital