First Edition Project Management The Managerial Process Fifth Edition Erik W. Larson Oregon State University Clifford F. Gray Oregon State University PROJECT MANAGEMENT: THE MANAGERIAL PROCESS Published by McGraw-Hill/Irwin, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY, 10020. Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. No part of this publication may be reproduced or distributed in any form or by any means
set of tools for operations manager Decision analysis a set of quantitative decision-making decisiontechniques for decision situations in which uncertainty exists Example of an uncertain situation demand for a product may vary between 0 and 200 units, depending on the state of market Supplement 1-45 1- Decision Making Without Probabilities States of nature Events that may occur in the future Examples of states of nature: high or low demand for a product good or bad economic conditions
centered at the desired or target value. However, the distribution of the critical characteristics for the transmissions manufactured in the United States takes up about 75% of the width of the specifications, implying that very few nonconforming units would be produced. In fact, the plant was producing at a quality level that was quite good, based on the generally accepted view of quality within the company. In contrast, the Japanese plant produced transmissions for which the same critical characteristics
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product life cycle. At its simplest it is depicted as a normal curve over time with regularly growing then declining demand. ➡ Strategy unfolds over a sequence of time periods. Competition evolves through a series of skirmishes and battles across the units of time covered by the product life cycle. ➡ Single-period profit is a function of: ➡ ➡ ➡ The price level ruling for the period The accumulated volume experience of the enterprise The enterprise’s achieved volume as a proportion of capacity.
the Society of Human Resource Management, and most recently as head of HR at Yahoo. She was recently interviewed by Workforce Management about the biggest challenges facing HR leaders: WM: What are the biggest challenges these days for HR leaders? LS: I think the talent marketplace in the last two or three years has changed so dramatically that almost everything we do in HR has got to change with it. The evolution of the Internet, social media, the global economy, the Gen Y generation coming of