Term
| steps in the capacity planning process |
|
Definition
1. estimate future capacity requirements
2. evaluate existing acapacity and facilities and identify gaps
3. identify alternatives for meeting requirements
4. Conduct financial analysis of each alternative
5. asses key qualititative issues for each alternative
6. select the laterantive to purse that will be best in the long run
7. implement the selected alternative
8. monitor results |
|
|
Term
| Example of seasonal demand patterns |
|
Definition
Day: phone calls, public transport, retail sales etc
week: sales, meals, traffic, hotel rental
month: welfare and ss checks, banks, military payment
year: beer and toy sales, airline traffic, vacation, gasoline |
|
|
Term
|
Definition
processing time needed
--------------------------------
processing time capacity per unit |
|
|
Term
| How do you determine capacity requirements ? |
|
Definition
Obtain a forecast of future demand
translate that demand into both quantity and timing of capacity requirements |
|
|
Term
| factors in planning service capacity |
|
Definition
1. there may be a need to be near customers
2. inability to store services
3. degree of volatility of demand |
|
|
Term
| Discuss factors to consider when deciding to operate in house or outsource |
|
Definition
available capacity
expertise
quality consideration
nature of demand
cost
risk (loss of control, knowledge sharing and sharing proprietary information) |
|
|
Term
|
Definition
| an operation in a sequences operations whose capacity is lower than that of other operations |
|
|
Term
| Discuss the major considerations in developing capacity alternatives |
|
Definition
1. design flexibility into the system
Ex: provision for future expansion in the oirginal design ofa structure - typically cost less than to remodel an existing structure without this provision.
2. Take stage of life cycle into account.
- if its the introduction phase it can be difficult to determine size of hte market and organizations eventual share of that market. Organizations should be cautious in making large / inflexible capacity investments
3. take a "big picture: aproach to cacity changes
- will suppliers be able to handle changes. i.e if you add rooms a hotel will you be able to deal with increased demands for parking etc? not accounting for the bigger picture will cause bottlenecks, the entire system only operates as fast as the bottleneck.
5. prepare to deal with capcity chunks
these are increases that are often auired in fairly large chunks rather than smooth increments making it difficult to achieve a match between desired capacity and feasible capacity.
6. attempt to smooth out capacity requirements
7. Identify the optimal operating level
t the idea level cost per unity is the lowest for that production unit. if hte output rate is less than the optimal level, increasing the output rate will result in decreasing average unit costs this is known as economies of scale. |
|
|
Term
| Explain encomony of scale |
|
Definition
fixed cost spread over more unites reducing fixed cost per unit
construction cost increasing at a decreasing rate with respect to size of facility
processing costs decrease as output rates increase because operations become more standardized which reduces the unit costs |
|
|
Term
| explain diseconomies of scale |
|
Definition
distribution costs in crease due to traffic congeestion and shipping from one large centralized facility instead of smaller decentralized facilities
complexity increases costs;; control and communication become more problematic
inflexibility can be an issue
additional levels of bureaucracy exist slowing decision making and approvals for change. |
|
|
Term
| graph the optimal rate of production vs. cost |
|
Definition
|
|
Term
|
Definition
focuses on relationships between cost revenue and voluee output. purpose is to estimate the income of a organization under various operating conditions. useful for comparing capacity alternatives
First all fixed and variable costs must be known for a given product. |
|
|
Term
|
Definition
TC = FC + VC
total cost = sum of fixed cost and variable cost per unity times volume
VC = Q X V |
|
|
Term
| determinants of effective capacity |
|
Definition
facility- including design and size and provision for expansion. locational factors like transportation costs and distance to market are important. and layout of work aread can determine how efficiently work can be performed.
product and service factors
product design has influence on capcity. ex: when items are similar ability of the system to produce those items is better than when items are diverse. more uniform output allows for standardization of methods and materials and greater capacity.
process factors
quantity capability of a process. quality of output as when quality falls to meet standards the rate of output is slowed by the need for inspection and rework. process improvements that increase quality and productivity result in increased capacity.
human capacity
employee motivation is closely linked with capacity along with absenteeism and labor turnover.
policy factors
operational factors
ex: scheduling problems wehn there are differences in equipment cpaabilities among alternative pieces of equipment or differences in ob requirements.
supply chain factors
exernal standards
product standards including minimum quality and performance standards can limit managements options for increasing and using capacity. pollution standards, paperwork required by regulatory agencies etc. etc. |
|
|
Term
| list the three primary strategies and what goes into chooosing a strategy |
|
Definition
leading following and tracking
Choosing a strategy on assumptions and predictions about long term demand patterns, technological changes and behavior of its competitors.
1. growth rate and variability of deemand
2. cost of building and operating facilities of various sizes
3. rate and directino of technological innovatoin
4. likely behavior of its competitors
5. availability of capital and other inputs |
|
|
Term
| leading capacity strategy |
|
Definition
builds capacity in anticipation of future demand increases.
Useful if capacity increases involve a long lead time |
|
|
Term
| tracking capacity strategy |
|
Definition
| Adds capacity in relatively small increments to keep pace with an increasing demand. |
|
|
Term
| following capacity strategy |
|
Definition
| builds capacity when demand exceeds current capacity |
|
|
Term
|
Definition
| amount of capcity in excess of expected demand where there is some uncertainty about demand. |
|
|
Term
| forecasting capacity requirements |
|
Definition
short term considerations; probable variations in capacity requirements created by seasonal random and irregular fluctuations in demand.
long term considerations; relate to overall level of capcity such as facility size |
|
|
Term
|
Definition
| refers to the difference between the cash received from sales (of goods or services) and other sources (e.g., sale of old equipment) and the cash outflow for labor, materials, overhead, and taxes. |
|
|
Term
|
Definition
| The sum, in current value, of all future cash flows of an investment proposal. |
|
|
Term
| METHODS OF FINANCIAL ANALYSIS |
|
Definition
| payback, present value, and internal rate of return |
|
|
Term
| payback method of financial analysis |
|
Definition
makes more sense for short term projects
A new machine will cost $2,000, but it will result in savings of $500 per year. What is the payback time in years?
SOLUTION
Initial cost = $2,000 Annual savings = $500
The payback time is initial cost divided by annual savings. Thus, the payback time is |
|
|
Term
| Decision theory of financial analysis |
|
Definition
| financial comparison of alternatives under conditions of risk or uncertainty. It is suited to capacity decisions and to a wide range of other decisions managers must make. It involves identifying a set of possible future conditions that could influence results, listing alternative courses of action, and developing a financial outcome for each alternative–future condition combination. |
|
|
Term
|
Definition
| useful for helping managers choose a capcity level that will be cost effective through balancing the cost of having customers wait with the cost of providing additional capacity. |
|
|
Term
| simulation method of financial analysis |
|
Definition
|
|
Term
|
Definition
| something that limits the performance of a process or system in achieving its goals |
|
|
Term
|
Definition
market - insufficient deamnd
resource
material
fiancial
supplier
knowledge or competency
policy |
|
|
Term
| how to resolve constraints |
|
Definition
1. identify most pressing constraint. if it can easily be overcome do so and return to step 1 for next constraint
2. change operation to achieve maximum benefit give nthat constraint - usually a stop gap solution
3. make sure other portions of the process are supportive of the constraint
4. explore waysto overcome the constraint. ex. low demand --> advertising or price change. capcacity --? working overtime, urchasing new equipment and outsourcing
5. repeat the process until level of constraints is acceptable |
|
|
Term
|
Definition
| The maximum output rate or service capacity an operation, process, or facility is designed for. |
|
|
Term
|
Definition
Design capacity minus allowances such as personal time, and maintenance.
is often less than design capacity due to human error, machine breakdowns, and absenteeism. |
|
|
Term
|
Definition
| financial analysis includes initial cost, expected annual cash flows, estimated future salvage value in an equivalent interest rate |
|
|
Term
| present value (in financial analysis) |
|
Definition
| expresses in current value the sum of all future cash flows of an investment proposal |
|
|
Term
|
Definition
unique, one time opportunities. designed to accomplish set of objectives in a limited time frame
ex: finish a class
olympic games
producing a movie
software development |
|
|
Term
| project management triangle |
|
Definition
did it come in on cost
is it on time
is the quality sufficient to be a sucess |
|
|
Term
| avoiding problems on a project |
|
Definition
effective team selection
effective leadership
motivation
maintaining an environment of integrity, trust and professionalism
being supportive of team efforts |
|
|
Term
| How to measure project sucess |
|
Definition
PERT : program evaluation and review technique
And CPM : critical path technique
graphical display of project activities
estimate project length
indicate which activities are most critical
slack time: which activities can be delayed without delaying project |
|
|
Term
|
Definition
network diagram (used with PERT chart)
diagram of project activities that shows sequential relationships sequential relationships through arrows and nodes.
Arrow on arrow or arrow on node |
|
|
Term
|
Definition
inherent part of project management
- relates to occurance of events that have undesirable consequences such as delays, increased cost, inability to meet technological specifications
good risk managment
identfying risks
analyzing those risks
working to minimize their probabilities
establishing contingency plans and budgets for risks that occur |
|
|
Term
|
Definition
initiating
process by outlining expected cost, benefits, and risks associated with a project. includes defining the major project goals and choosing a project manager.
planning
phase that provides details on deliverables, the scope of the project, the budget, the schedule and milestones, performance objectives, resources needed, a quality plan, and a plan for handling risks. The accompanying documents generated in the planning phase will be used in the executing
Executing
phase the actual work of the project is carried out. the project is managed as activities are completed. resurces are consumed and milestones are reached. Management involves what the Project Management Institute refers to as the nine management areas. project intergration, scope, human resources, communications, time, risk, quality, cost, and procurement.
monitoring and controlling
this phase occurs at the same time as project execution. Involves comparing actual progress wiht planned progress and undertakes corrective action if needed and monitoring any corrective
closing
phase ends hte project. invovles handing off the project deliverables, obtaining customer acceptance, documenting lessons learned, releasing resources. |
|
|
Term
| how is a project different from general operations management |
|
Definition
limited time frame
narrow focus, specific objective
less bureaucratic |
|
|
Term
| why is project management used |
|
Definition
1. special needs that dont lend themselves to functional management
2. pressure for new or improved products or services, cost reduction |
|
|
Term
| what are the key metrics of project management |
|
Definition
time
cost
performance objective |
|
|
Term
| what are the key success factors |
|
Definition
1. top down commitment
2. respected and capable project manager
3. enough time to plane
4. careful tracking and control
5. good communications |
|
|
Term
| six key decisions in project management |
|
Definition
Deciding which projects to implement.
• Selecting the project manager.
• Selecting the project team.
• Planning and designing the project.
• Managing and controlling project resources.
• Deciding if and when a project should be terminated. |
|
|
Term
|
Definition
small group with complementary skills who hold themselves mutually accountable for common purpose goals and approach
A team has reached the group development theory of performing (but has not slipped into decay)
groups sometiems dont form into teams because of conflicts over power and authority and unstable interpersonal relations
essence of a team is common commitment |
|
|
Term
| when does a group become a team |
|
Definition
1. leadership becomes a shared activity
2. accountability shifts from strictly individual to both individual and collective
3 develops its own purpose or mission
4. problem solving becomes a way of life
5. effectiveness is measured by the groups collective outcomes and products |
|
|
Term
|
Definition
types: committees, review panels, qality circles
work cycles can be brief or long. decisions, selections, suggestions and proposals |
|
|
Term
|
Definition
types: assembly teams, manufacturing crews etc.
work cycles typically repeated or continuous process.
typical outputs; retail sales, food, chemicals |
|
|
Term
|
Definition
types: research groups, planning teams
low degree of coordination
work cycles differ for each project. cycle can be team life span
typical output; plans, designs, prototypes
low |
|
|
Term
|
Definition
types: sports, expeditions, surgery, military, police
high coordination
brief performance events often repeated under new conditions. requiring extended training or preparation.
typical outputs; combat missions, expeditions, concerts, competitive events
like firefighters, capable of synchronized peak performance at a moments notice |
|
|
Term
| four key variables for teams |
|
Definition
technical specialization
coordination
work cycles
outputs |
|
|
Term
|
Definition
1. performance - team achieves intended results
2. viability
members satisfied with team experience and willing to continue contributing to team effort |
|
|
Term
| characteristics of effective teamwork |
|
Definition
clear purpose
informality
participation
lstening
civilized disagreement
consensus decisions
open communication
clear roles and work assignments
shared leaderships
external relations
style diversity
self-assessment |
|
|
Term
|
Definition
mistake by management
- teams cannot overcome weak strategies and poor business practices
- hostile environment for teams
- teams adopted as fad, quick-fix withhout long-term commitment
- lessons from one team are not transferred to others
- vague or conflicting team assignments
- inadequate team skills training
- poor staffing of teams
- lack of trust
- unrealistic expectations resulting in frustration
problems experienced by team members
- team tries to do too much too soon
- conflicts over work styles
- too much emphasis on results instead of team processes
- unanticipated obstacle causes team to give up
- resistance to doing things differently
poor interpersonal skills |
|
|
Term
| Why is cooperation important |
|
Definition
superior to competition in promoting achievement and productivity
cooperation without intergroup competition is superior to individualistic efforts in promoting achievement and productivity than cooperation within intergroup competition. |
|
|
Term
|
Definition
communication
- keep team members and employees informed by explaining policies
support
- be available and approachable
respect
delegation, actively listening to ideas of others
fairness
be quick to give credit and recognition to those who deserve it
predictability
be consistent and predictable
competence
enhance your credibility by demonstrating good business sense |
|
|
Term
|
Definition
| a sense of "we-ness" emerges to transcend individual differences and motives. |
|
|
Term
| socio-emotional cohesiveness |
|
Definition
| sense of togetherness that develops when individuals derive emotional satisfaction from group participation. |
|
|
Term
| instrumental cohesiveness |
|
Definition
| sense of togetherness that develops when group members are mutually dependent on one another because they believe they could not achieve the groups goal by acting separately. |
|
|
Term
| what is the connection between group cohesiveness and performance |
|
Definition
cohesiveness --> performance effect
cohesiveness --> performance effect was stronger for smaller and real groups
cohessiveness --> performance effect becomes stronger as one moves from nonmilitary real groups to military groups to sport teams.
commitment to the task at hand has the most powerful impact on the cohesiveness performance linkage. |
|
|
Term
| characteristics of effective teamwork |
|
Definition
clear purpose
informality
participation
listening
civilized disagreement
consensus decisions
open communication
clear roles and work assignments
shared leadership
external relations
style diversity
self-assessment |
|
|
Term
| How to influence group cohesiveness |
|
Definition
keep task groups small
make sure performance standards and goals are clear and accepted
achieve some early success |
|
|
Term
| Compare and contrast virtual teams and self-managed teams |
|
Definition
|
|
Term
|
Definition
relating - understanding the organizations power structure and building trust
scouting - seeking outside information diagnosing teamwork problems. facilitating group problem solving
persuading, gathering outside support and resources, influencing team to be more effectve and pursue organizational goals
empowering; delegating decision-making authority, facilitating team decision-making process, coaching |
|
|
Term
| effects of self-managed teams |
|
Definition
A positive effect on productivity.
• A positive effect on specific attitudes relating to self-management (e.g., responsibility and control).
• No significant effect on general attitudes (e.g., job satisfaction and organizational commitment).
• No significant effect on absenteeism or turnover |
|
|
Term
|
Definition
six sigma
lean operations
customer focus teams |
|
|
Term
|
Definition
most common times type of team
work to improve quality by identifying and solving quality related problems.
i.e corrective action teams
two types
1. departmental
2. cross-functional
milted in membership to employees of a specific department and limited in scope to problems within that department
meet once or twice a week and go through standardized problem-solving methodology. identify problems, select one to work on, collect data bout the causes and select a solution. can usually implement any changes that dont require any major changes in procedures or substantial resources. |
|
|
Term
|
Definition
called quality councils usually the top manager ison this council. Such as Vice President of Performance Excellence
responsible for establishing overall quality policy and guiding the implementation and evolution of quality throughout the organization
makes key decisions about the quality process, how it should be measured and what structures and approaches should be used to improve quality.
provides periodic reviews of satisfaction. overall responsibility for the progress and sucess of the entire performance level. |
|
|
Term
| quality improvement teams |
|
Definition
| provide leadership for quality at mid and lower levels of the organization |
|
|
Term
|
Definition
organized to perform a complete unit of work
team members; share responsibility for completing job on time and usually are cross trained to perform all work tasks and often rotate among them.
work tasks are not narrowly defined like an assembly line.
ex: assembling a motorcycle
tends to lead to self-managed teams |
|
|
Term
|
Definition
self-directed teams or autonomous work groups
natural teams with broad responsibilities including self-management
tends to lead to improvements in quality and productivity |
|
|
Term
|
Definition
groups who work closely together despite being geographically separated. rarely meet face-toface.
important due to increasing globalization, flatter organizational structures and increasing shift to knowledge work.
requires strong attention to communication and strong interpersonal relationship |
|
|
Term
|
Definition
chartered to perform one-time tasks
ex: technology implementation.
fundamental to six sigma |
|
|
Term
|
Definition
require diversity of skills like technical analysis and creative solution development
1. champions: senior level management who promote and lead the deployment of six sigma in a significant area of the business. select teams, set strategic direction create measurable objectives and work towards moving barriers that inhibit the successful implementation decisions |
|
|
Term
|
Definition
full-time six sigma experts who are responsible for six sigma strategy, training and mentoring, deployment and results
work across the organization to create change typically not members of six sigma teams |
|
|
Term
|
Definition
| fully trained experts with 160 hours of trainers. perform much of the technical analysis. advanced knowledge of DMAIC methods. |
|
|
Term
|
Definition
| functional employees trained in introductory six sigma methods and work on projects on a part time basis. usually promoted |
|
|
Term
|
Definition
| individuals from various functional areas who support specific projects. |
|
|
Term
|
Definition
work on specific tasks or processses that cut across the boundries of several different departments.
not unique to quality, used in new product development etc.
deal with problems that involve a variety of functions and typically dissolve after the problems are solved.
natural vehicles for implementing large-scale organizational changes. |
|
|
Term
| ingredients for a successful team |
|
Definition
clarity in team goals
improvement plan
clearly defined roles
clear communication
well defined decisions procedures
balanced participation
established ground rules
awareness of group process
use of the scientific approach |
|
|
Term
|
Definition
greatly influenced nature of quality in manufacturing organizations
focuses on production efficiency and decomposing jobs into small work tasks. |
|
|
Term
|
Definition
(1) appreciation for a system,
- managements job is to optimize the system. making decisions that are best for the entire system rather than subsystems, not pitting departments against each other
(2) understanding process variation
- common cause variations i.e machine wear, are stable and performace is predictable. special causes - misaligned equipment - disrupt predictable patterns
variation = chief culprit of poor quality and increases the cost of doing business; reworks etc etc.
(3) theory of knowledge
management decisions should be driven by facts, data and justifiable theories not just opinion.
(4) psychology.
helps to understand people, interactions between people and circumstances, |
|
|
Term
|
Definition
improve quality
cost decrease because of less rework, fewer mistakes, fewer delays and snags and better use of times and materials
productivity improves
capture the market with quality and lower price
stay in business
provide jobs and more jobs |
|
|
Term
| when people dont understand systems |
|
Definition
when people dont understand systems - they see events as individual incidents rather than the net result of many interactions.
see symptom instead of deep causes of problems
dont understand how intervention in one part can cause havoc in another place / time. |
|
|
Term
| when people dont understand variation |
|
Definition
dont see trends that are occurring
see trends where there are none
dont know when expectations are realistic
dont know the difference between prediction, forecasting and guesswork
give others credit or blame when they are lucky or unlucky |
|
|
Term
| when people dont understand psychology |
|
Definition
they dont understand the motivation for why people do what they do
resort to carrots and sticks that have no positive effect on relationships
dont understand the process of change and are resistant to it
resort to coecerive and paternalistic approaches when dealing with people |
|
|
Term
| when people dont understand the theory of knowledge |
|
Definition
they dont know how to plan and accomplish learning and improvement
dont understand the difference between improvement and change
problems remain unchanged despite their best efforts |
|
|
Term
| deming 14 points for management |
|
Definition
. Create and publish to all employees a statement of the aims and purposes of the company or other organization. The management must demonstrate constantly their commitment to this statement.
2. Learn the new philosophy, top management and everybody.
3. Understand the purpose of inspection, for improvement of processes and reduction of cost.
4. End the practice of awarding business on the basis of price tag alone.
5. Improve constantly and forever the system of production and service.
6. Institute training.
7. Teach and institute leadership.
8. Drive out fear. Create trust. Create a climate for innovation.
9. Optimize toward the aims and purposes of the company the efforts of teams, groups, staff areas.
10. Eliminate exhortations for the workforce.
11. (a) Eliminate numerical quotas for production. Instead, learn and institute methods for improvement. (b) Eliminate MBO (Management by Objective). Instead, learn the capabilities of processes and how to improve them.
12. Remove barriers that rob people of pride of workmanship.
13. Encourage education and self-improvement for everyone.
14. Take action to accomplish the transformation. |
|
|
Term
|
Definition
quality means performance to requirements - not elegance
1. requirements must be clearly stated so they cannot be understood. noncomformance = a lack of quality
there is no such thing as a quality problem
2. quality problems originate in functional departments, not the quality departments. quality departments should measure conformance, report results, lead the drive to develop a positive attitude towards quality improvement.
no such thing as the economics of quality
- it is always cheaper to do things right the first time. quality is free
only performance measurement is the cist if quality. the expense of nonconformance. measuring and publicizing the cost of poor quality.
the only peformance quality is Zero Defects ZD.
theme of ZD is do it right hte first time. concentrating on preventing defects rather than just fiding and fixing them. |
|
|
Term
|
Definition
| method to improve upon a process so there are no more than 3.4 defects for every 1,000,000 parts processed |
|
|
Term
|
Definition
taking waste out of a process to make it more sufficient and have higher quality
flexible system of operation
- greater productivity
- less waste (especially in excess inventory, time etc)
- lower cost
- shorter cycle time
- maintain highest quality
HOW: frequently engage in preventative maintenance - servicing equipment |
|
|
Term
|
Definition
six sigma
lean operation
customer focus team |
|
|
Term
|
Definition
| groups of two or more focused on customers |
|
|
Term
|
Definition
poor interpersonal skills
not clearly defined team
no clearly defined goals and roles of team members |
|
|
Term
| how to choose successful team members |
|
Definition
positive attitude
knowledgeable about problems
adaptable |
|
|
Term
|
Definition
international organization for standardization
standards focusing on developing documenting and implementhing procedures to ensure consistency of operations and performance in production and service delivery processes, aim of continual improvement. supported b principles of total quality.
9000 fundamentals and vocabulary
9001 requirements
9004 guidance for performance improvement |
|
|
Term
| ISO principles of quality management |
|
Definition
customer focus
leadership
engagement of people
process approach
improvement
evidence based decision making
relationship management |
|
|
Term
|
Definition
internal auditing
continuous improvement
document review
customer focus
recertification - every 3 years |
|
|
Term
|
Definition
9000 - product quality
1400 - environmental standards |
|
|
Term
| principles of total quality management (TQM) |
|
Definition
1. customer focus
2. mutually beneficial supplier relationships
3. factual approach to decision making
4. continual improvement
5. system approach to management
6. process approach
7. improvement of people
8. leadership |
|
|
Term
|
Definition
enhancing value to the customer
improving productivity through better processes
improve flexibility / responsiveness
improving organizational management through learning |
|
|
Term
|
Definition
using data to track daily operations and overall organizational performance.
makes sure data information is available and access able. knowledge is accurate and reliable |
|
|
Term
check sheet
2. cause and effect diagram
3. histogram
4. scatter diagram
5. flow chart
6. paretodiagram |
|
Definition
creates easy understand data, makes pattern in data easily observable, a check sheet.
used to distribution of observed values.
ex: when there you are trying to see how many of a certain kind of produce are sold at a certain time.
ex. a group of boxes showing defect X hour. so you can see when there are defects
run charts
measure performance over time
control chart
shows |
|
|
Term
|
Definition
| trying to figure out the cause of a specific problem with variables that can be analyzed |
|
|
Term
|
Definition
| distribution showing the frequency of occurrences of a variable r} [image] |
|
|
Term
|
Definition
a process map that helps show the sequential steps in a process. a diamond represents when a decision must be made.
-> X --> K |
|
|
Term
|
Definition
helps measure identify and plot problems in descending order of frequency
[image] |
|
|
Term
|
Definition
| plot relationship between two numerical variables |
|
|
Term
|
Definition
measure performance over time
ex: admissions over a year in care facility
identify declines etc. and identify variables within a time period |
|
|
Term
|
Definition
| ex: you're supposed to provide invoices within 24 hours. you have an upper (97) and lower control limit (87) and you look for an abnormal variantions |
|
|
Term
| typical values for control limits |
|
Definition
|
|
Term
|
Definition
68
85
99.7
this refers to what percentage of a population falls within 1, 2 and 3. standard deviations of the mean. [image] |
|
|
Term
|
Definition
| a chart in which a series of horizontal lines shows the amount of work done or production completed in certain periods of time in relation to the amount planned for those periods. |
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
| basic economic order quantity model |
|
Definition
|
|
Term
| economicproduction quantity model |
|
Definition
|
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Term
| what is an economic order quantity (EOQ) |
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| project planning tool enables a manager to schedule project activities and then monitor start and finish times for each activity but does not show the relationships among activities? |
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