MGMT 1050 Quiz: stats book summary notes pt4
Document Summary
Chapter 13 project scheduling: pert/cpm showed how pert/cpm can be used to plan, schedule, and control a wide variety of projects. The key to this approach to project scheduling is the development of a pert/cpm project network that depicts the activities and their precedence relation- ships. From this project network and activity time estimates, the critical path for the net- work and the associated critical activities can be identified. In the process, an activity schedule showing the earliest start and earliest finish times, the latest start and latest finish times, and the slack for each activity can be identified. We showed how we can include capabilities for handling variable or uncertain activity times and how to use this information to provide a probability statement about the chances the project can be completed in a specified period of time. Chapter 14 inventory models presented some of the approaches used to assist managers in establish- ing low- cost inventory policies.
