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Seven Management And Planning Tools
The ''seven management and planning tools'' have their roots in operations research work done after World War II and the Japanese '' total quality control'' (TQC) research. The New seven tools Affinity Diagram J method/h2> Affinity diagrams are a special kind of brainstorming tool that organize large amount of disorganized data and information into groupings based on natural relationships. It was created in the 1960s by the Japanese anthropologist Jiro Kawakita. It is also known as KJ diagram, after Jiro Kawakita. An affinity diagram is used when: # You are confronted with many facts or ideas in apparent chaos. # Issues seem too large and complex to grasp. Interrelationship diagram Interrelationship diagrams (IDs) displays all the interrelated cause-and-effect relationships and factors involved in a complex problem and describes desired outcomes. The process of creating an interrelationship diagram helps a group analyze the natural links between different aspects of a comp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Operations Research
Operations research ( en-GB, operational research) (U.S. Air Force Specialty Code: Operations Analysis), often shortened to the initialism OR, is a discipline that deals with the development and application of analytical methods to improve decision-making. It is considered to be a subfield of mathematical sciences. The term management science is occasionally used as a synonym. Employing techniques from other mathematical sciences, such as modeling, statistics, and optimization, operations research arrives at optimal or near-optimal solutions to decision-making problems. Because of its emphasis on practical applications, operations research has overlap with many other disciplines, notably industrial engineering. Operations research is often concerned with determining the extreme values of some real-world objective: the maximum (of profit, performance, or yield) or minimum (of loss, risk, or cost). Originating in military efforts before World War II, its techniques have grown to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost–benefit Analysis
Cost–benefit analysis (CBA), sometimes also called benefit–cost analysis, is a systematic approach to estimating the strengths and weaknesses of alternatives. It is used to determine options which provide the best approach to achieving benefits while preserving savings in, for example, transactions, activities, and functional business requirements. A CBA may be used to compare completed or potential courses of action, and to estimate or evaluate the value against the cost of a decision, project, or policy. It is commonly used to evaluate business or policy decisions (particularly public policy), commercial transactions, and project investments. For example, the U.S. Securities and Exchange Commission must conduct cost-benefit analyses before instituting regulations or deregulations. CBA has two main applications: # To determine if an investment (or decision) is sound, ascertaining if – and by how much – its benefits outweigh its costs. # To provide a basis for comparing inve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Operations Research
Operations research ( en-GB, operational research) (U.S. Air Force Specialty Code: Operations Analysis), often shortened to the initialism OR, is a discipline that deals with the development and application of analytical methods to improve decision-making. It is considered to be a subfield of mathematical sciences. The term management science is occasionally used as a synonym. Employing techniques from other mathematical sciences, such as modeling, statistics, and optimization, operations research arrives at optimal or near-optimal solutions to decision-making problems. Because of its emphasis on practical applications, operations research has overlap with many other disciplines, notably industrial engineering. Operations research is often concerned with determining the extreme values of some real-world objective: the maximum (of profit, performance, or yield) or minimum (of loss, risk, or cost). Originating in military efforts before World War II, its techniques have grown to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Failure Modes And Effects Analysis
Failure mode and effects analysis (FMEA; often written with "failure modes" in plural) is the process of reviewing as many components, assemblies, and subsystems as possible to identify potential failure modes in a system and their causes and effects. For each component, the failure modes and their resulting effects on the rest of the system are recorded in a specific FMEA worksheet. There are numerous variations of such worksheets. An FMEA can be a qualitative analysis, but may be put on a quantitative basis when mathematical failure rate models are combined with a statistical failure mode ratio database. It was one of the first highly structured, systematic techniques for failure analysis. It was developed by reliability engineers in the late 1950s to study problems that might arise from malfunctions of military systems. An FMEA is often the first step of a system reliability study. A few different types of FMEA analyses exist, such as: * Functional * Design * Process Sometimes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Process Decision Program Chart
Process Decision Program Chart (PDPC) is a technique designed to help prepare contingency plans. The emphasis of the PDPC is to identify the consequential impact of failure on activity plans, and create appropriate contingency plans to limit risks. Process diagrams and planning tree diagrams are extended by a couple of levels when the PDPC is applied to the bottom level tasks on those diagrams. Methodology From the bottom level of some activity box, the PDPC adds levels for: # identifying what can go wrong (failure mode or risks) # consequences of that failure (effect or consequence) # possible countermeasures (risk mitigation action plan)http://site.iugaza.edu.ps/aschokry/files/2010/02/7_Tools.pdf Similar techniques * The PDPC is similar to the failure mode and effects analysis Failure mode and effects analysis (FMEA; often written with "failure modes" in plural) is the process of reviewing as many components, assemblies, and subsystems as possible to identify potential failu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Priority Matrix
Priority Matrix is a time management software application that is supported on a number of platforms, including Microsoft Windows, Mac OS X, Android, and iOS. It is based on the Eisenhower Method of arranging tasks by urgency and importance in a 2x2 matrix. Priority Matrix offers a cloud-based synchronization of data, allowing for data management across multiple devices. The application is also loosely based on David Allen's Getting Things Done methodology of improving productivity. Features * Quadrants-based task prioritization – The 2x2 time management matrix, based on the Eisenhower Method of time management, is the general framework on which Priority Matrix is run. The quadrants organize tasks based on importance and urgency. In Priority Matrix, the four quadrants' default labels are: Critical and Immediate, Critical but not Immediate, Not Critical but Immediate, and Uncategorized. * Task drag and drop – Tasks and projects are capable of being dragged from one location to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Return On Investment
Return on investment (ROI) or return on costs (ROC) is a ratio between net income (over a period) and investment (costs resulting from an investment of some resources at a point in time). A high ROI means the investment's gains compare favourably to its cost. As a performance measure, ROI is used to evaluate the efficiency of an investment or to compare the efficiencies of several different investments.Return On Investment – ROI , Investopedia as accessed 8 January 2013 In economic terms, it is one way of relating profits to capital invested. Purpose In business, the pur ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Total Quality Control
Quality control (QC) is a process by which entities review the quality of all factors involved in production. ISO 9000 defines quality control as "a part of quality management focused on fulfilling quality requirements". This approach places emphasis on three aspects (enshrined in standards such as ISO 9001): # Elements such as controls, job management, defined and well managed processes, performance and integrity criteria, and identification of records # Competence, such as knowledge, skills, experience, and qualifications # Soft elements, such as personnel, integrity, confidence, organizational culture, motivation, team spirit, and quality relationships. Inspection is a major component of quality control, where physical product is examined visually (or the end results of a service are analyzed). Product inspectors will be provided with lists and descriptions of unacceptable product defects such as cracks or surface blemishes for example. History and introduction Early ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
