Operations Mangment-lean Production Flashcards
What is project management
application of processes, methods, skills, knowledge and experience to achieve specific project objectives according to the project acceptance criteria within agreed parameters
Explain the reasons for using project management within a business
optimize production and find a balancing point between the quality and capacity of produced goods, as well as the time and resources spent on producing them.
What are Gantt charts
useful graphical tool which shows activities or tasks performed against time
What are critical path analysis
algorithm for scheduling a set of project activities
What is Project Evaluation and Review Technique
technique helps project planners identify start and end dates, as well as determine required tasks and timelines
Nature of Gantt charts
Dates. One of the main components of a Gantt chart, the dates allow project managers to see not only when the entire project will begin and end, but also when each task will take place. ... Tasks Bars Milestones Arrows Taskbars Vertical Line Marker Task ID
How to calculate EST and LST
EST-Early Finish of predecessor activity + 1.
LST-Late Start of successor activity – 1
How to calculate free and total float
Free float-subtracting the Early Finish Date of the activity from the Early Start Date of the next activity.
Total float-subtract the task’s earliest finish (EF) date from its latest finish (LF) date
How to interpret the optimistic and pessimistic times
Optimistic-The least amount of time it can take to complete a task
Pessimistic-The maximum amount of time it should take to complete a task
Usefulness of quantitative methods of project management
provide techniques to tame this growing accumulation of data as support for economic decision-making
What qualitative factors which might affect project management
Allocated time.
Budget cost.
Desired performance at technical or specification level.
Quality standards as defined by customers or users.
Importance of qualitative factors affecting project management
they represent the way the public perceives a business and its operations and how that perception can affect the bottom line.
