Decision Making Strategies a- Optimizing b- Satisficing c- Maximax d- Maximin II- Decision Making Procedure and techniques 1) Basic guidelines to decision making and problem solving 2) Decision making techniques a- Pareto Analysis b- Paired Comparison Analysis c- Grid Analysis d- PMI e- Force Field Analysis f- Six Thinking Hats g- Starbursting h- Stepladder Technique i- Cost/Benefit Analysis j- Decision Trees III- Risking 1) 2) 3) 4) General Comments on Risk
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Stegemoller M. 2004. Privatization and the market for corporate control Neumark D‚ Sharpe SA. 1996. Rents and quasi rents in the wage structure: Evidence from hostile takeovers Oldfield GS. 2004. Bond games. Financial Analysts Journal 60(3): 52–66. Pareto V. 1906. Manuale di economia politica‚ con una introduzione alla scienza sociale Rose C‚ Mejer C. 2003. The Danish corporate governance system: From stakeholder orientation towards shareholder value Salanié B. 2000. Microeconomics of market failures
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ISTANBUL TECHNICAL UNIVERSITY FACULTY OF MANAGEMENT INDUSTRIAL ENGINEERING DEPARTMENT TOTAL QUALİTY MANAGEMENT END 329 E TERM PROJECT Group 1 Instructor: Şeyda Serdar ASAN Research Assistants: Levent ATAHAN – İbrahim YAZICI Ketsiya TAVİT 070100328 Tunahan KAFA 070120705 Sevinç APTİ 070120704 Sibel TEMÜRLENK 070100502 İmren ŞAVLİ 070100501 CONTENTS PHASES OF SİX SİGMA 3 1.DEFINE 3 1.1 Voice of the Customer Analysis 3 1.2 Critical to Quality Chart 5 1.3 Stakeholder Analysis: 5 1.4 SIPOC
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Rare/Slow Moving The warehousing can be designed in a Hub and Spoke model where the Hub would be a master warehouse containing 100% inventory and the spoke end would keep a optimum level of fast moving/general inventory based on the past trends and Pareto chart. This will ensure high degree of customer satisfaction. The Spares would contain a high level of SKUs. This presents the challenge of organizing the warehouse that would ensure that minimum time is spent for locating and mobilizing the spare
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Defined by customer; looser than the control limits Order of Magnitude estimate = -25% to +75% Preliminary estimate = -15% to + 50% Budget estimate = -10% to +25% Definitive estimate = -5% to +10% Final estimate = 0% Float on the critical path = 0 days Pareto Diagram = 80/20 Time a PM spends communicating = 90% Crashing a project = Crash least expensive tasks on critical path. JIT inventory = 0% (or very close to 0%.) Minus 100 = (100) or -100 PERT PERT 3-point = (Pessimistic+(4*Most Likely)+Optimistic)/6
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Economic Schools of Thought CLASSICAL | NEOCLASSICAL | HETERODOX | INSTITUTIONAL | Classical economics focuses on the tendency of markets to move to equilibrium and on objective theories of value. School of thought that has a distinct theory of value‚ distribution‚ and growth.Classical economics tended to stress the benefits of trade. Its theory of value was largely displaced by marginalist schools of thought which sees "use value" as deriving from the marginal utility that consumers finds
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The factors influence was assessed by analyzing the main effects and interaction between the factors and was calculated using Statistica 8.0 software (StatSoft Inc. Tulsa‚ OK‚ USA). Student’s t-test was used to analyze the level of significance. The Pareto chart was constructed with this software and shows the values of the Student’s t-test for each component of the medium. It was considered as response variable the quantification of reducing sugars by DNS
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Q. 1 Explain briefly the Computer Integrated Manufacturing. Ans. 1 Computer Integrated Manufacturing integration occurs when a broad range of manufacturing and supporting activities are linked. Activities include engineering design‚production planning‚ shop control‚ order processing‚ material control‚ distribution etc. Information flow across all functions takes place with the help of computers. Transmission‚ processing‚ distribution and feed back happen almost in real time so that intended activities
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SCHOOL OF COMPUTER SCIENCE AND INFORMATION TECHNOLOGY BSC (HONS) BUSINESS INFORMATION SYSTEMS IM 3045: PROJECT MANAGEMENT INDIVIDUAL TASK 1 APPLICATION OF PROJECT MANAGEMENT PRINCIPLE TO SOLVE THE PROBLEM Project management principle determines its transferability across different industries. This study compared construction‚ information systems‚ and human resources‚ and accounting utilities industries with respect to typical project size‚ project management uncertainties‚ and qualifications
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Week 2: Exercises and Homework Problems 1. Of the adult U.S. population‚ 36% has an allergy. A sample of 1200 randomly selected adults resulted in 33.2% reporting an allergy. a. Describe the population. b. What is the sample? c. Describe the variable. d. Identify the statistic and give its value. e. Identify the parameter and give its value. 2. (HWK) A drug manufacturer is interested in the proportion of persons who
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