Review for Final

1. Review for Final Final will take place Monday, This room

2. Format • 85 multiple choice worth 50% • 4 discussion problems worth 50% • exam is closed notes/closed book • Exam will be comprehensive

3. Bring • Pencils • Calculator • Orange Scantron sheet • appetite

4. Content • We have covered Chapters 2,3,4,6,7,9,10,11,12,13,14,15 • material on project management • Goldratt’s Critical Chain • At least half of the material will come from the last third of the course

5. Typical discussion problems • Construct an activity on node Pert chart from a table; Determine duration, ES, EF, LS, and LF • Perform earned value analysis:BCWP, BCWS, ACWP, CV,SV • Perform crashing of networks • PERT • Aggregate production planning • A business process re-engineering problem • A quality control chart • A simple house of quality (QFD) problem

6. Why has Project Management become so in-vogue? • diversity of new products and product markets • shorter life span of products • rapid technological changes

7. What are the major reasons for project failure? • Inadequate conceptualization and definition • Specifically, inadequate requirements • Absence of a plan • Unavailable resources when needed • Scope and hope creep • Unresponsive contractors who deliver their product late

8. What are the four stages of the project lifecycle? • Conceptualization and Definition • Planning and Budgeting • Execution and Control • Termination and closure

9. In which of these stages is a WBS started? • Conceptualization and Definition • First 3 levels • {The WBS is usually finished in the Planning and Budgeting stage}

10. Scope management Time management Cost management Quality management Integration management Risk management Procurement management Human resource management Communications management What are the nine knowledge areas?

11. In which stage is scope management most important? • The first stage: Conceptualization and Definition

12. Activity definition is ___ • a subproject • a process • a problem • a plan • WHICH???

13. Activity definition is part of what knowledge area? • Time management

14. Project Scope Management Processes • Initiation • Scope Planning • Construction of the WBS • Scope Definition • Product scope • Project scope • Scope Verification • Scope Change Control

15. Project Time Management Processes • Activity Definition • Activity Sequencing • Activity Duration Estimating • Schedule Development • Schedule Control

16. Project Cost Management Processes • Resource Planning • Cost Estimating • Cost Budgeting • Cost Control

17. Project Quality Management Processes • Quality Planning • Quality Assurance • Quality Control

18. The main purpose of a project plan is ____ • acquire resources • guide project execution. • meet standards expectations. • reduce risk.

19. The most important output of project execution is • Work products • Not---change requests • Not—the WBS

20. What are the five steps of the Theory of Constraints (Goldratt)? • IDENTIFY the project constraint • Decide how to EXPLOITE that constraint • SUBORDINATE everything to that decision • ELEVATE the system’s constraint • Go back to step a

21. NOT… • SUBORIDNATE that decision to everything else

22. You should know • How to construct a PERT chart from a table • How to construct a Gantt chart from a table • How to perform PERT crashing • How to do EVA

23. Questions about MS Project • Which key for subordination • Which key for linking • How to view project duration and cost on the project information dialog box • How to see all of the activity costs

24. For MS Project to cost your project, it needs to know • Resource hourly costs • Activity fixed costs • THIS IS ALL

25. In MS Project, durations of phases • Containing one of more subordinate tasks can be specified only by MS Project

26. Task info is entered in which view of MS Project, usually?? • The Gantt view, using the entry table

27. When using the standard calendar, MS Project assumes • 8-hour work days • No work on Sat or Sun

28. Questions over CRITICAL CHAIN • Major conclusions, recommendations • Goldratt’s view of EVA • What to Measure • What to Focus on

29. More Questions on CRITICAL CHAIN • To avoid non critical paths from becoming critical you should… • Critical chain is the sequence of tasks performed by key persons both on and off the critical path

30. Measurements should • Induce the parts to always do what is good for the system as a whole

31. Why does Goldratt not like BCWP, BCWS, ACWP? • Because they have no sensitivity to the critical path

32. If you have task on the critical path and • Your time to complete that task has arrived, then Goldratt recommends that you drop everything and just focus on that task until you get it done!!

33. Notes on shortening project durations • This must be done in the Planning and Budgeting stage • Crashing • Reducing the duration of tasks on the critical path • Fast-tracking • Starting tasks sooner • Adding resources?? • Checking for parallelism opportunities in the schedule • Pull as much work off of the critical path as you can

34. More Tips on shortening project durations • REUSE, REUSE, REUSE • Do it right the first time • Avoid changes to requirements

35. More techniques for shortening projects • Scrub the requirements • Remove from the requirements those items that add little or no value • Remember the Pareto principle—80% of the value comes from 20% of the functionality • Do everything right the first time (AGAIN) • REMOVE SAFETY--GOLDRATT

36. For each chapter…. • Skim the chapter • Examine the SUMMARY and the SUMMARY OF KEY TERMS SECTIONS at the end of each chapter

37. Chapter 2: Operations Strategy • Know the four process types • Know the three types of make-to • Know the difference between core competencies and support competencies

38. Chapter 14: Quality Management • Name three quality gurus • Describe the relationship between TQM and continuous improvement • Understand the costs of quality • What is the relationship between quality and productivity? • Remember the yield formula??

39. Chapter 15: Statistical Quality Control • Know p-charts, c-charts, xbar-charts, rbar-charts • Which of these are used for attributes, which for variables? • Will not test you on AOQ, LTPD • {old antiquated concepts}

40. Chapter 4: Processes and Technologies Quality Function Deployment House of Quality

41. Chapter 4, Cont’d: Process Planning, Analysis… • Process analysis, flowcharts • SYMBOLS: Operation, Inspect, Transport, Delay, Storage • Flexible Manufacturing Sys, Robotics • IT: Expert Systems, Decision Support Systems • CIM

42. Reengineering design principles • Eliminate handoffs • Organize around outputs • Capture information once at the source • Eliminate multiple external contact points • Simplify work

43. Chapter 7: Supply Chain Management • Logistics by any other name • IT Integration • The bane of SCM is ______?

44. Chapter 9: Capacity Planning & Aggregate Production Planning • Long-range planning • Medium range planning—aggregate prod planning • Short-range planning

45. Chapter 10: Inventory Management • Basic EOQ model • Basic re-order point model • All units price discounting

46. Chapter 11: Just-in-time and Lean Production

47. Chapter 12: Enterprise Resource Planning • ERP Implementation • Dependent demand • An information system • Inputs: MPS, Inventory Master file, Bill of materials (product structure file) • Outputs: Purchase orders, shop orders • Taken by itself, is MRP at all sensitive to capacity??

48. Chapter 13: Scheduling • Sequencing and assignment • FIFO, LIFO, SPT, EDD, etc. • Johnson’s 2-machine scheduling

49. Chapter 17: Project Management • Probabilistic Pert—be able to find the mean and standard deviation when given an optimistic, most likely and pessimistic estimate • BE able to calculate project duration, project variance for PERT projects