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Operations Management Ch.10
concepts and definitions
22
Management
Undergraduate 4
02/14/2011

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Term
Project
Definition
series of related jobs directed toward some major output and requiring time to perform
Term
Project Management
Definition
planning, directing, and controlling resources to meet the techonology, cost, and time considerations
Term
Pure Project
Definition
a self-contained team works full time on project

1 boss
quick decisions
increased motivation

duplication of resources
Term
Functional Project
Definition
housing project within functional division

several projects
expertise

low motivation
slow response
Term
Matrix Project
Definition
matrix MGT 301
Term
Statement of Work
Definition
written description of objectives to be achieved; brief statement of work to be done, proposed schedule, could include milestones
Term
Task
Definition
division of work
Term
Work Package
Definition
groups of activities combined to be assigned to single organizational unit
Term
Project Milestone
Definition
specific events to be reached at a certain time
Term
Work Breakdown Structure
Definition
defines the heirarchy of tasks and work packages
Term
Activities
Definition
pieces of work that take time
Term
Gantt Chart
Definition
bar chart; shows time and sequence
Term
Total Program Cost Breakdown
Definition
labor, materials, and overhead
Term
Divisional Breakdown of Cost and Labor
Definition
% of labor hours from each division
Term
Cost and Performance Tracking Schedule
Definition
degree of completion
Term
Earned Value Management
Definition
technique for measuring project progress objectively; scope,schedule, cost

essential features: project plan ids activities; valuation of each activity (revenue and cost); predefined earning/costing rates
Term
Critical Path Method
Definition
procedure for scheduling a project

id activities and estimate time
determine sequence and network construction
determine critical path
determine ES/LS and EF/LF
determine slack time
Term
Critical Path
Definition
sequence of activities that form the longest chain
Term
Time-Cost Models
Definition
attempt to develop a minimum cost schedule to control expenditures
Term
Activity Direct Costs
Definition
expediting activity
Term
Project Indirect Costs
Definition
sustaining project
Term
Crashing Procedure
Definition
prepare CPM netowrk diagram; normal and crash cost/time

determine cost/day to expedite each activity

compute critical path

decrease CP at lowest cost

plot direct indirect and total cost curves and find minimum cost schedule
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