Unit 8 Operations Flashcards
What is meant by free float
Is the amount of time an activity can be delayed without delaying the next activity
(EST (of next activity) -D- EST (of this activity)
What is meant by total float
Is the amount of time that an activity can be delayed without delaying the finish time of the project
Advantages of CPA
- Identifies the activities that have a float time
- identifies critical path of project and which activities have no float time therefore can not be delayed without delaying
- shows est and lft of all activities
- more resources to critical path from activities that have a float time
Disadvantages of CPA
- Just a prediction/forecast
- Less of activities can make CPA complicated to manage
- resources may not be as flexible as project manager 1st resource
What is operations management
An area of management concerned with designing and controlling the process of production and redesigning business operations in the production of services and goods
The objectives of operations management
- production targets in order to meet demand
-quality and rejection targets (reduce waste and costs) - looking to increase productivity rates
Factors impacting the operations objectives
- size and legal status of the business
- state of the economy (less demand means less production)
-competition (less demand) - government (change in government)
- legislation (increase tax or national insurance6
Advantages of CPA
- Identifies activities that have a float time
- identifies critical path of project, these activities have no float time so can’t be delayed
- shows est + lft of all activities
- moves resources to critical path from activities that have a float time
Disadvantages of CPA
- Just a prediction (reliability is based on estimates)
- loss of activities can make CPA complicated to manage
- resources may not be as flexible as project manager 1st resource
What is product orinetated mean
Is a business and marketing strategy that focuses above creating the best possible products
Market orientation?
Focuses on identifying consumer needs and desires in order to define new products to be developed. Principles to improve or expand their product or services
What is a gant chart?
A graphical representation of the order and duration of tasks within a projects
Benefits of a gant chart
Visual representation
Easy to monitor
See what is happening
Shows them and resource allocation
Drawbacks of gant charts
Does not show official activities
Can not use est or lfts
Can not calculate float times
Pert analysis
O + (4 x L) + P
———————-
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O= optimistic time
L= likely time
P= pessimistic time
Benefits of PERT
- more realistic given pessimistic time
- simple formulae to apply
- a lot of data can be visually represented
Drawbacks of PERT
The pessimistic and optimistic times can be difficult to judge
Division of labour
Allocation of labour into specific tasks, intended to increase productivity
Benefits of division of labour (specialisation)
More productive/ increase the productivity
Lower labour costs
Consequently, increasing profit margin
