ch09 - Key Terms activities The time or resources needed to...

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Key Terms activities The time or resources needed to progress from one event to another in a PERT network. benchmarking The search for the best practices among competitors or noncompetitors that lead to their superior performance. breakeven analysis A technique for identifying the point at which total revenue is just sufficient to cover total costs. budget A numerical plan for allocating resources to specific activities. competitor intelligence Environmental scanning activity that seeks to identify who competitors are, what they are doing, and how their actions will affect the organization. critical path The longest sequence of events and activities in a PERT network. environmental scanning The screening of large amounts of information to anticipate and interpret changes in the environment. events End points that represent the completion of major activities in a PERT network. forecasts Predictions of outcomes. Gantt chart A scheduling chart developed by Henry Gantt that shows actual and planned output over a period of time. linear programming A mathematical technique that solves resource allocation problems. load chart A modified Gantt chart that schedules capacity by entire departments or specific resources. PERT network A flowchartlike diagram showing the sequence of activities needed to complete a project and the time or costs associated with each.
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project A one-time-only set of activities that has a definite beginning and ending point in time. project management The task of getting a project's activities done on time, within budget, and according to specifications. qualitative forecasting Forecasting that uses the judgment and opinions of knowledgeable individuals to predict outcomes. quantitative forecasting Forecasting that applies a set of mathematical rules to a series of past data to predict outcomes. resources The assets of the organization including financial, physical, human, intangible, and structural/cultural. scenario A consistent view of what the future is likely to be. scheduling Detailing what activities have to be done, the order in which they are to be completed, who is to do each, and when they are to be completed. slack time
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This note was uploaded on 10/21/2009 for the course FSD 6789 taught by Professor Vinh during the Spring '09 term at ITT Tech Flint.

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ch09 - Key Terms activities The time or resources needed to...

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