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Worksheetseng mng
Total questions: 95
Worksheet time: 1hrs 3mins
The process of IDENTIFYING and CHOOSING alternative COURSE OF ACTION in a MANNER appropriate to the DEMANDS of the SITUATION.
(a)
must ADAPT a certain procedure designed to DETERMINE the BEST OPTION available to SOLVE certain problems.
(a)
the decision making process is according to
(a)
identification of the problem is tantamount to having the problem half-solved
(a)
to identify the constraints that brings out the limitation
(a)
organizational activities with the firm that surrounds decision making
(a)
variables that are outside the organization and not typically controlled by top management
(a)
organizational structure, policies, procedures, rules, ability of management
(a)
product strategy, promotional strategy, etc.
(a)
recruitment practices, incentive systems, etc.
(a)
plant facility layout, inventory control, etc.
(a)
liquidity, profitability, etc.
(a)
which of the following does not belong to the engineering firm and external environment?
government
labor unions
suppliers
marketing
which of the following does not belong to the engineering firm and external environment?
banks
public
competitors
financial
which of the following does not belong to the engineering firm and external environment?
clients
engineers
organizational
First step in creating a viable alternatives
PREPARE a list of alternative solutions.
DETERMINE the viability of each solutions
REVISED the list by striking out those which are not viable.
second step in creating a viable alternatives
PREPARE a list of alternative solutions.
DETERMINE the viability of each solutions
REVISED the list by striking out those which are not viable.
third step in creating a viable alternatives
PREPARE a list of alternative solutions.
DETERMINE the viability of each solutions
REVISED the list by striking out those which are not viable.
According to Webber (To Be a Manager, Essentials of Management), “Particular effort should be made to identify all significant ______ of each choice.
CONSEQUENCES
BENEFITS
VALUE
The Selection process must be RANKED from BEST to WORST on the BASIS of some factors like benefit, cost, and risk
TRUE
FALSE
MAYBE
In creating a chart there are nodes that will represent the events which will indicate the START and END of activities or tasks.
TRUE
FALSE
MAYBE
The directional lines indicate the tasks that needs to be completed, and arrows show the sequence of the activities
TRUE
FALSE
MAYBE
During this stage the Engineer Manager must consider the Engineering Process (Planning, Organizing, Directing, and Controlling).
TRUE
FALSE
MAYBE
During this stage, CONTROL and FEEDBACK mechanism is use to ensure results and provide information to future decisions
EVALUATE AND ADAPT DECISION RESULTS
IMPLEMENT DECISION
MAKE A CHOICE
EVALUATE ALTERNATIVES
During this stage, the engineer will find out whether or not the desired result is achieved. If not, further analysis is NECESSARY.
EVALUATE AND ADAPT DECISION RESULTS
IMPLEMENT DECISION
MAKE A CHOICE
EVALUATE ALTERNATIVES
TYPE OF INVENTORY MODEL:
Use to calculate the number of ITEMS that should be ordered at one TIME
ECONOMIC ORDER QUANTITY (EOQ) MODEL
ECONOMIC PRODUCTION QUANTITY (EPQ) MODEL
BACK ORDER INVENTORY MODEL
QUANTITY DISCOUNT MODEL
IDEAL ORDER quantity a company should purchase in order to minimize its inventory cost.
ECONOMIC ORDER QUANTITY (EOQ) MODEL
ECONOMIC PRODUCTION QUANTITY (EPQ) MODEL
BACK ORDER INVENTORY MODEL
QUANTITY DISCOUNT MODEL
This is useD so that the company DOES NOT make orders to FREQUENTLY and NOT an EXCESS of inventory sitting on hand.
ECONOMIC ORDER QUANTITY (EOQ) MODEL
ECONOMIC PRODUCTION QUANTITY (EPQ) MODEL
BACK ORDER INVENTORY MODEL
QUANTITY DISCOUNT MODEL
TYPE OF INVENTORY MODEL:
Using a quantifying technique in terms of economic order.
ECONOMIC ORDER QUANTITY (EOQ) MODEL
ECONOMIC PRODUCTION QUANTITY (EPQ) MODEL
BACK ORDER INVENTORY MODEL
QUANTITY DISCOUNT MODEL
OPTIMUM ORDER quantity a company should MANUFACTURED in a production unit to avoid UNNECESSARY stoppage of funds and excess storage cost.
ECONOMIC ORDER QUANTITY (EOQ) MODEL
ECONOMIC PRODUCTION QUANTITY (EPQ) MODEL
BACK ORDER INVENTORY MODEL
QUANTITY DISCOUNT MODEL
TYPE OF INVENTORY MODEL:
Used for planned shortages
ECONOMIC ORDER QUANTITY (EOQ) MODEL
ECONOMIC PRODUCTION QUANTITY (EPQ) MODEL
BACK ORDER INVENTORY MODEL
QUANTITY DISCOUNT MODEL
percentage of orders that cannot be delivered at the scheduled time but will be delivered at a later date.
ECONOMIC ORDER QUANTITY (EOQ) MODEL
ECONOMIC PRODUCTION QUANTITY (EPQ) MODEL
BACK ORDER INVENTORY MODEL
QUANTITY DISCOUNT MODEL
TYPE OF INVENTORY MODEL:
Minimized the total costing when quantity discounts are offered by suppliers.
ECONOMIC ORDER QUANTITY (EOQ) MODEL
ECONOMIC PRODUCTION QUANTITY (EPQ) MODEL
BACK ORDER INVENTORY MODEL
QUANTITY DISCOUNT MODEL
pricing strategy in which the company offers lower prices to customers that purchase large quantities of a product.
ECONOMIC ORDER QUANTITY (EOQ) MODEL
ECONOMIC PRODUCTION QUANTITY (EPQ) MODEL
BACK ORDER INVENTORY MODEL
QUANTITY DISCOUNT MODEL
To determine the number of service units that will minimize both customer waiting time and cost of service
Program Evaluation Review Technique (PERT)
NETWORK MODELS
QUEUING MODELS
QUEUING THEORY
CRITICAL PATH METHOD (CPM)
A network technique using only ONE TIME FACTOR PER ACTIVITY that enables engineer managers to schedule, monitor, and control large and complex projects.
Program Evaluation Review Technique (PERT)
NETWORK MODELS
QUEUING MODELS
QUEUING THEORY
CRITICAL PATH METHOD (CPM)
Identifies the longest sequence of dependent tasks within the project.
Program Evaluation Review Technique (PERT)
NETWORK MODELS
QUEUING MODELS
QUEUING THEORY
CRITICAL PATH METHOD (CPM)
identifies the tasks that can be completed in parallel to critical tasks with more buffer time around them.
Program Evaluation Review Technique (PERT)
NETWORK MODELS
QUEUING MODELS
QUEUING THEORY
CRITICAL PATH METHOD (CPM)
What is NOT an advantage of Critical path Mathod?
Easy budget control.
Effective scheduling
Efficient resource allocation.
Enhanced scope creep management
Constant trend
for large complex tasks broken into smaller segments that can be manage independently
Program Evaluation Review Technique (PERT)
NETWORK MODELS
QUEUING MODELS
QUEUING THEORY
CRITICAL PATH METHOD (CPM)
A technique which enables engineer managers to SCHEDULE, MONITOR, CONTROL (large and Complex projects) by employing three (3) time estimates for each activity
Program Evaluation Review Technique (PERT)
NETWORK MODELS
QUEUING MODELS
QUEUING THEORY
CRITICAL PATH METHOD (CPM)
First step in doing the CPM
Specify each activities.
Establish dependencies (Activity sequence)
Draw the network of diagram
Estimate activity completion time
Identify the critical path.
Second step in doing the CPM
Specify each activities.
Establish dependencies (Activity sequence)
Draw the network of diagram
Estimate activity completion time
Identify the critical path.
Third step in doing the CPM
Specify each activities.
Establish dependencies (Activity sequence)
Draw the network of diagram
Estimate activity completion time
Identify the critical path.
Fifth step in doing the CPM
Specify each activities.
Establish dependencies (Activity sequence)
Draw the network of diagram
Estimate activity completion time
Identify the critical path.
Fourth step in doing the CPM
Specify each activities.
Establish dependencies (Activity sequence)
Draw the network of diagram
Estimate activity completion time
Identify the critical path.
STATISTICAL TOOL used in project management, which was designed to ANALYZE and REPRESENT the TASKS involved in COMPLETING a given project.
Program Evaluation Review Technique (PERT)
NETWORK MODELS
QUEUING MODELS
QUEUING THEORY
CRITICAL PATH METHOD (CPM)
orderly queue
FIFO (First In First Out) also called FCFS (First Come First Serve)
LIFO (Last In First Out) also called LCFS (Last Come First Serve)
SIRO (Service in Random Order)
Priority Queue
What is not part of the process of forecasting?
Develop the Basis of Forecasting
Estimate the Future Operations of the Business
Regulate the Forecast
Review the Process
Updating the Progress
Determine the company’s condition and identifying where the business is currently position in the market.
Develop the Basis of Forecasting
Estimate the Future Operations of the Business
Regulate the Forecast
Review the Process
Updating the Progress
Estimate the future conditions of the industry where the business operates and projecting and analyzing how the company will fare in the future
Develop the Basis of Forecasting
Estimate the Future Operations of the Business
Regulate the Forecast
Review the Process
Updating the Progress
Look unto the different forecasts in the past and comparing them with what actually happened in the business. The difference in previous results and current forecasts are analyze, and the reason for deviations are considered
Develop the Basis of Forecasting
Estimate the Future Operations of the Business
Regulate the Forecast
Review the Process
Updating the Progress
Every step is checked, refined, and modified
Develop the Basis of Forecasting
Estimate the Future Operations of the Business
Regulate the Forecast
Review the Process
Updating the Progress
collection of past and current information to make predictions about the future
Forecasting
Budgeting
Regulation of Forecast
Review of the Process
plan for a company’s future
Forecasting
Budgeting
Regulation of Forecast
Review of the Process
forecasting method that examines the association between two or more variables
Regression Analysis
Budgeting
Simulation
Linear Programming
can be SIMPLE LINEAR or MULTIPLE LINEAR depending on the number of independent variables present
Regression Analysis
Budgeting
Simulation
Linear Programming
a model constructed to represent reality, on which conclusions about real-life problems can be used.
Regression Analysis
Budgeting
Simulation
Linear Programming
where the decision maker develops a mathematical model of the system under consideration.
Regression Analysis
Budgeting
Simulation
Linear Programming
used to produce an optimum solution within the bounds imposed by constraints upon the decision.
Regression Analysis
Budgeting
Simulation
Linear Programming
a very useful decision making tool in terms of supply and demand limitations where constraints are visible upon the system
Regression Analysis
Budgeting
Simulation
Linear Programming
quantitative technique where samples of populations are STATISTICALLY determined to be used for number of processes such as quality control and marketing research
Regression Analysis
Sampling Theory
Statistical Decision Theory
Linear Programming
rational way to CONCEPTUALIZE, ANALYZE, and SOLVE PROBLEMS in a situation involving LIMITED, or PARTIAL information about the decision environment.
Regression Analysis
Sampling Theory
Statistical Decision Theory
Linear Programming
This theory is subjecting the alternatives to BAYESIAN ANALYSIS
Regression Analysis
Sampling Theory
Statistical Decision Theory
Linear Programming
purpose is to revise and update the initial assessments of the event probabilities generated by the alternative solutions
Regression Analysis
Sampling Theory
Statistical Decision Theory
Bayesian Analysis
selects the decision alternative having the maximum expected payoff, or the minimum expected loss is at works
Bayesian Analysis
Bayes Criterion
Bayesian Partial Concept
Bayesian Analysis
PURPOSE OF REGRESSION ANALYSIS
-Estimate the value of one variable using the known values of other variables.
-Predict results and shifts in a variable based on its relationship with other variables.
-Control the influence of variables while exploring the relationship between variables.
stack
FIFO (First In First Out) also called FCFS (First Come First Serve)
LIFO (Last In First Out) also called LCFS (Last Come First Serve)
SIRO (Service in Random Order)
Priority Queue
least amount of time it can take to complete a task.
optimistic time
pessimistic time
most likely time
expected time
maximum amount of time it can take to complete a task
optimistic time
pessimistic time
most likely time
expected time
Assuming there are no problems, the best or most reasonable estimate of how long it should take to complete a task
optimistic time
pessimistic time
most likely time
expected time
Assuming there are problems, the best estimate of how much time will be required to complete a task
optimistic time
pessimistic time
most likely time
expected time
amount of time a task can be delayed without resulting in an overall delay in completion of other tasks or the project.
FLOAT/STACK
CRITICAL PATH
CRITICAL PATH ACTIVITY
LEAD TIME
longest possible continuous path from the start to the end of a task or event.
FLOAT/STACK
CRITICAL PATH
CRITICAL PATH ACTIVITY
LEAD TIME
an activity without any slack.
FLOAT/STACK
CRITICAL PATH
CRITICAL PATH ACTIVITY
LEAD TIME
amount of time needed to finish a task without affecting subsequent tasks.
FLOAT/STACK
CRITICAL PATH
CRITICAL PATH ACTIVITY
LEAD TIME
amount of time needed to finish a task without affecting subsequent tasks.
LAG TIME
FAST TRACKING
CRASHING CRITICAL PATH
CRITICAL PATH ACTIVITY
handling tasks or activities in parallel.
LAG TIME
FAST TRACKING
CRASHING CRITICAL PATH
CRITICAL PATH ACTIVITY
Shortening the amount of time to do a critical task
LAG TIME
FAST TRACKING
CRASHING CRITICAL PATH
CRITICAL PATH ACTIVITY
may be viewed as a number of queues for various priorities
FIFO (First In First Out) also called FCFS (First Come First Serve)
LIFO (Last In First Out) also called LCFS (Last Come First Serve)
SIRO (Service in Random Order)
Priority Queue
use for large complex tasks broken into smaller segments that can be manage independently
Program Evaluation Review Technique (PERT)
NETWORK MODELS
QUEUING MODELS
QUEUING THEORY
CRITICAL PATH METHOD (CPM)
ACTIONS made to ENSURE that activities performed match the described activities or goal
(a)
meant to entice customers to buy more products, often leads to increase overall revenue and production cost savings for companies.
(a)
Two most prominent network models
(a)
Choice making is the process of selecting alternatives representing potential solutions to a problem.
(a)
carrying out the decision so that the objectives sought will be achieved therefore a plan must be devised.
(a)
all solutions are viable and the best amongst the solutions must be considered by the management
(a)
out of pocket costs (building cost), opportunity costs (with interest), and follow on costs (maintenance costs).
(a)
likelihood of achieving the goals of the alternatives
(a)
BENEFITS that can be expected
(a)
BENEFITS that can be expected
(a)
evaluation using INTUITION and SUBJECTIVE JUDGEMENT.
(a)
evaluation using INTUITION and SUBJECTIVE JUDGEMENT.
(a)
2 extreme values of the waiting time variance
(a)
evaluation using any techniques in a group classified as rational and analytical
(a)
