| A | B |
|---|
| Allocation of Resources | ”Apportionment of productive assets among different uses. The issue of resource allocation arises as societies seek to balance limited resources (capital |
| Critical Path | ”The longest pathway providing the amount of time it will take to complete a project. It is provided through examining a PERT Chart which is created using project management software.” |
| Gantt Chart | ”A project management tool used to help plan |
| PERT Chart | ”Project Management tool used to schedule |
| Brainstorming | ”Is a group or individual creativity technique by which efforts are made to find a conclusion for a specific problem by gathering a list of ideas spontaneously contributed by its member(s).” |
| Environmental Scan | ”An external analysis of a business’ opportunities and threats using a formula such as the PEST analysis to help make decisions for the course of the business. The PEST analysis considers the political |
| PEST Analysis | ”An external situation analysis tool in which one examines the political |
| Effectiveness | ”Making the right decisions about what products or services to offer customers and the best ways to produce and deliver them.” |
| Efficiency | ”Producing products and services quickly |
| Performance Measures | ”Performance measures quantitatively tell something important about our products |
| Quality | ”Consistently producing what the customer wants while reducing errors before and after delivery to the customer.” |
| Total Quality Management | ” is a philosophy developed by W. Edwards Deming dedicated to the process for continuous improvement and eliminating waste due to defects in production. Six Sigma is another quality program in which the idea of producing products within the range of 1 in a million defects to increase efficiency.” |
| Quality Measure | ” Quantitative measure of the characteristics and attributes of a product.” |
| Six Sigma | ”A commitment to quality in which the business strives to reduce defects to the ratio of one defect in a million units of production.” |
| Process Flow Charting | ”A flowchart is a type of diagram that represents an algorithm or process |
| Timeline | ”A linear representation of important events in the order in which they occurred and/or a schedule; timetable. “ |
| Employee Morale | ”No matter how smart |
| Operational Planning | ”The process of setting work standards and schedules necessary to implement the company’s tactical objectives. The daily planning of an organization usually handled by company supervisors.” |
| Praise | ”Praise is the act of making positive statements about a person |
| Schedule | ”A list of meetings |
| Project Management | ”The planning |
| Benchmarking | ”Comparing an organization’s practices |
