Unit 8 Gibbins Flashcards
Operations management
An area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods and services
Objectives of operations management
Production targets in order to meet demand
Quality and rejection targets reduce waste, reduce costs
Increase productivity rates
Factors impacting operations objectives
Size and legal status of the business
State of the economy
Competition
Government
Legislation
Critical path analysis
A project management technique that requires mapping out each task to make it the shortest possible time. Includes identifying the amount of time necessary for each task and whether or not tasks can be delayed (float time) without effecting the finish time of a product.
Float time
The amount of time that an activity/ take in a project network can be delayed without causing a delay to project competition date, or next task.
Total float
The amount of time that an activity can be delayed from its start date without delaying the finish time of the project
How to calculate total float
LFT ( this activity) - duration - EST (this activity)
Free float
The amount of time that an activity can be delayed from its start date without delaying the finish time of the project
How to calculate free float
EST (next activity) - duration- EST (this activity)
Advantages of CPA
Identify activities that have a float time
Identify the critical path of project time
Shows EST and LFT of activities
Can identify where to more resources e.g labour
Disadvantages of CPA
just a prediction
Lots of activities can make CPA complicated to manage
Resources may not be as flexible as a project manager 1st resource e.g labour having different skills
