Operations Management
Is the supervision of processes that converts inputs into products or services
Allowing inventory to accumulate between steps increases utilization
Decrease task time to decrease average utilization
Organizing to Produce Goods/Ser
Critical Path Method Procedure for scheduling a project Single time estimate is used because we are assuming that the activity times are known Simple project approach steps: 1) Identify each activity to be done in the project and estimate how long it will
Work Breakdown Structure A project starts out as a statement of work (SOW) SOW may be a written description of the objectives to be achieved Work to be done Proposed schedule specifying start and stop dates A task is a further subdivision of a project Not
Supply and Demand Planning Forecasts are vital to every business organization and for every significant management decision Forecasting is the basis of corporate long run planning Provide the basis for budgetary planning and cost control Strategic forecas
Project Management Success in project management is very much an activity that requires careful control of critical resources Most companies deal with projects individually-pushing each through the pipeline as quickly and cost-effectively as possible Wors
Independent Evaluation
Project 1
Project 1 involved the hiring/firing of inspectors, with each new inspector adding $1,000 to
Hawkeyes and each employee fired results in the loss of $500 due to severance. With two
inspectors, the incremental profit had a
