Contrast project management with operations management. How do these differences impact the approach required to manage a project successfully?
Key concepts to be covered in the response include:
Operations - Ongoing; continuous; repetitive process- Management approach can include using checklists to guide operational work.
Project - Temporary; unique - management of a project entails gathering requirements and creating a project plan. Using a checklist is not sufficient due to the unique nature of the project.
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A constructive obligation is a promise in a contract with a customer to transfer goods or services
Indicate whether the statement is true or false
Which of the following are described as numerous and intense, but usually short- lived?
A. mood B. affects C. instinct D. emotions
Which of the following statements is FALSE about formulating the mathematical model for simulation?
a. The model has to exactly match the real system. b. Basic assumptions that characterize the system should be included. c. The analyst should start with a simple model and progressively make it more complex. d. The model should abstract the essential features of the system that is being studied.
Which of the following is not classified as a qualitative forecasting model?
A) exponential smoothing B) Delphi method C) jury of executive opinion D) sales force composite E) consumer market survey