Project Management
Generally a project is one time effort to attain a particular aim, construction of dam, power plants etc are examples of project.
The management associated with project is known as project management. In case of project management basically time management for the completion of the project at proper time is one of the most important things.
PERT(Program Evaluation and Review Technique)
PERT is a statistical tool used in project management which way designed to analyze and represent the task involved in completing a given project especially the time needed to complete each task and to identify minimum time needed to complete the total project.
It consist of arrow and node diagram of activities. where arrow represent the activities to reach the nodes(event) and node represents each completed phase to total project.
PERT uses three time estimates for each activity-
1.Optimistic
2. Expected
3. Pessimistic
It dose not estimate cost for each activity.
(PERT Network Chart for a seven month project)
CPM (Critical path method):-
Critical path method is an algorithm for scheduling a set of project activities. It is commonly used in conjunction with PERT.
CPM is commonly employed in many diverse type of project such as product development, engineering, aerospace, software development etc.
Basic Steps involved in CPM:-
1. Determine required tasks.
2. List required task in a sequence.
3. Create a flow chart including each required task.
4. Identify all critical and non critical relationships among required tasks.
5. Assign an expected execution time for each task.
Main aim CPM is to complete the project in shortest time possible.
Concepts of Break Even Analysis:-
The amount of production at which neither profit nor loss occur is known as break even paint and this analysis is known as break even analysis.
It is useful tool to study the relation between fixed costs and variable cost and revenue.
It can be graphically represents or calculated with a simple mathematical calculation.
Break even point= fixed cost selling price-variable cost
Significance:-
1. Help in determining optimum level of output.
2. Help in determining target capacity of a firm.
3. Help in determining selling price for a product.
4. Help in analyzing impact of new product launch.
5. Impact of changes in price & cost on profit of the firm.
Quality management:-
Generally the degree of satisfaction by customer about a product is known as quality of a product. This means higher degree of satisfaction provide better quality.
For a business organization quality management of the product is very important thing. This decides future of products, Better quality causes better future and vice versa.
Quality control and quality assurance:-
Quality control is a part of quality management focused on full-filling quality requirement. Wheres, Quality Assurance is a part of Quality management focused in providing confidence that quality requirements will be full filled.
Difference between Quality control and Quality Assurance:-
There are some difference between Quality control and quality Assurance:-
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Quality Assurance
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Quality Control
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1 Focuses on process.
2 Follow a proactive approach.
3 It is prevention based system.
4 Geation of quality is done in
desiging stage.
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1 Focuses on product.
2 Follow a reactive approach.
3 It is detection based system.
4 Geation of quality done in
control stage.
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Quality circle:- Quality circle is a small voluntary group of employees and their supervisors, a team about eight to ten member from same work area or department group that meets regularly to solve problems related to their job scope or workplace.
it works on the basic of a continuous and ongoing process in a organisation.
Introduction to TQM :- Total Quality management (TQM) is a structured organisation management approach that focuses on continuous quality improvement on continuous quality improvement of products and services by using continuous feedback.
It was organized in the industrial sector of Japan (1954). It can be used for almost all type of organisation such as school ,colleges, churches, hotel management etc.
Kaizen:-
Kaizen is a japanese word which means "continuous improvement"or change for better.
Kaizen means continuous improvement of process and functions of an organisation through change. It main aim to provide continuous improvement of process not only in manufacturing sector but all other departments.
It is made of two words "kai"and "zen", where "kai"means change and "zen"means good.
so, it works on following basic principle "changing for good".
5's' of Kaizen:-
5's' of kaizen is a system a systematic approach which leads to foolproof system, standards rules and regulation which give rise to a healthy work culture at the organisation.
The meaning of 5's' are as follow-
- SEIRI (Sort Out):- According to SEIRI, employee should sort out all things well and remove item are that are not longer required.
- SEITION (Straighter/Set):-According to this point, organize the items in a such a way that they can be optimized properly.
- SEISO (Shine):- Clean the workplace in order to identify problems more easily.
- Sciketsu(Standardise):-Organisation must have certain Standard rules and set policies to ensure superior quality.
- Shitsuke (Self Disciplire):- Employees must respect/ follows organisation rules and regulation means Don't attend office in casuals. Don't forget to carry your identity card.
Six Sigma :- Six sigma is an an international management process focused on producing high quality products or Services as per customer need and satisfaction.
It is not a set of statistical tools. It is a stage gate approach to managing the projects.
six sigma uses DMAIC approach to solve any problem.
where, D stand for define
M stand for measure
A stand for analyze
I stand for improve
C stand for control
Characteristic of Six Sigma-
- Leadership commitment
- Managing decisions with data
- Training and cultural change
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