OPM Sheet

Path sequence of activities between a projects start

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Unformatted text preview: iness. Order W inners – criterion customers use to differentiate services of product from one firm to another. Operations Strategy – m eans by w hich operations implements firm ’s corporate strategy and build customer driven firm. OPM – Finance/operations/management Process of changing inputs into outputs thereby adding values to an organization. Value Added. Order fulfillment – low cost, top quality, consistent, on time, varietyOutput m easures – usual choice for line, firm provides a relatively smaller number of standardized products and services, as customization and variety become excessiv e, becomes less useful.Path – sequence of activities between a project’s start and finish. Project M anagement – Project selection (cost/benefit analysis, risk analysis, crucial to long ­run survival of a firm. Project selection m odels – payback period, NPV discounted cash flow, IRR, W eighted Factor scoring.), Organizational structure (break down structure, temporary structure, headed by pro ject m anager, w ork breakdown structure into components, subcomponents, activities, and desks, develop a chart w hich organizational unit and w ho is responsible.), Project m anager selection, Scheduling and control (time/cost estimation and resource allocatio n – gantt chart, network diagram CPM and PERT). Prevention costs – redesigning process to remove causes of poor performance, redesigning service to m ake it simpler to produce, training employees for continuous improvement, w orking w ith suppliers to increase quality of purchased items.Planning Project – defining w ork breakdown structure, diagramming the network, developing the schedule, analyzing cost ­time tradeoffs, assessing risks. Process – takes one or m ore inputs, transforms into output.Proj...
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