p320_exam 4 study guide

p320_exam 4 study guide - P320: Exam 4 Study Guide CLASS 21...

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P320: Exam 4 Study Guide CLASS 21 5 S: Sort, Standardize, Straighten, Shine, Sustain (Safety) ARTICLE 9: SC CLARITY o Thin margins-profits o Jit/lean inventories o Tougher to add capacity Project Management Success Factors: On Time, On Budget, On Delivered, No disturbing work flow Classic Management is READY, FIRE, AIM—need to have a focus on planning (60% of time spent) Project Management Tips: Right People, Breakdown to Pieces, Name/Due Date, Measure, Escalate when necessary, NO surprises, Post Meetings Gantt Charts: for small projects, bar chart CPM (Critical Path Method)/PERT (Program Evaluation on Review Technique): o PERT: (a + 4m +b)/6 Early Start Duration Early Finish Task Name Late Start Slack Late Finish o EF = ES + Expected Time o LF = LS + Expected Time o Critical Path: longest path in time through network o Slack Time: LS – ES and LF –EF Learning Curve: labor focus Experience Curves: Longer term factors of production-reduce costs (vert. integration, automation, equipment investment) o Requires low employee turnover o New process for company o Operating people: want to take 90 hrs for better quality o Finance people: want to take 70 hours for cost savings Value Analysis: examine to make sure component fulfills intended function at lowest cost! o Cost Reductions: Loosen specifications Standardize Reduce part count Lower-cost material Process improvements CLASS 22 Inventory: raw, WIP, finished goods, Repair, Pipeline (transit) o Have inventory to lower risk Lean Principles:
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This note was uploaded on 02/25/2012 for the course MGMT 4375 taught by Professor Eixmann during the Fall '11 term at Texas State.

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p320_exam 4 study guide - P320: Exam 4 Study Guide CLASS 21...

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