BUSM 371: Midterm Review
Quotes:
"Practice doesn't make perfect. Practice makes permanent. Perfect practice makes perfect." "It's not what you know but rather your desire that will help you be successful" "If you don't know where you are... you probably don't know where you are going" "If you cannot measure it, you can't manage it, if can't manage it, you can't improve it."
Effective Meetings
0. Send out an effective E-mail with Agenda, Assignments 1. Meet and Go over agenda and understood assignments. 2. Effective Brain Storming: Let the brains keep storming. Last 3-7 minutes. So, and so, can you please take notes for me. "Let's open the brainstorming with dialogue about the cafeteria!" Don't lead them to think about something. Don't go down the rabbit holes but rather stay with everything. 3. MEAT of the meeting; all issues, assignments, brain storming ideas, etc. 4. Confirm assignments going forward 5. Send out an E-mail confirming attendee, all assignments, updated status from the meeting and when the next meeting will be.
What are the three things you benchmark in order?
1. Internal 2. Closest competitor 3. The very best of your competition
7 types of wastes
1. Overproduction 2. Inventory (JIT) (Just in time) 3. Correction (Defects) 4. Motion (unnecessary movement of people) 5. Overprocessing 6. Conveyance: unnecessary movement of materials. 7. Waiting
Scorecard creation steps
1. Select a focus area 2. List objectives 3. Create goals (more quantitative) 4. Build your spreadsheet 5. Monitor weekly (watch your data)
Project Charter
A Project Charter is a document that, while describing the purpose of a project and its scope, it legally authorizes the beginning of the project. Any business nowadays, before initiating a new project requires a signed project charter. What does a project charter contain? Project Overview: Consists of the project name, author of the charter, creation date, project manager, project charter purpose, and charter version. Project Details: here you can add a detailed project description which includes the mission, the general scope of the project, the key stakeholders, and clients. Project Scope: a range of companies prefer including the project scope within the Project Details section.
Make
Test product, confirm quality, hold, package, request and receive materials
Hunter's favorite food
Thai Food
SCOR Model (traditional)
Design Develop, Source Selection, Plan, Procure, Manage
What are the 2 E's?
Effective and Efficient: everything has processes to it.
ERP
Enterprise resource planning (connects all the data together in a company) (Peoplesoft, canvas)
Plan
Figure out what you are going to do with suppliers, demand, equipment, systems, and inventory
Deliver
Generate quotations, create and maintain customer database, collections
McKay's favorite restaurant
He doesn't have one
Source
Inspect, confirm, quantify, check and check again, have a back up
KPI
Key Performance Indicator (milestones & deliverables)
SCOR Model (modern)
Plan, Source, Make, Deliver, Return
RFP; RFQ; RFI
Request for Proposal; Request for Quote; Request for Information
Return
Scheduling, Inspection, Authorization, Verifying status of defects, Warranty
Gap Analysis Steps
Step #1: Identify the current state of your department. Step #2: Identify where you want to be with your department. Step #3: Identify the gaps in your department. Step #4: Devise improvements to close the gaps in your department.
SKU
Stock Keeping Unit (bar code)
Hannah's favorite movie
The Croods 2
3 Constraints
The three constraints of project management are cost, time, and scope. It is impossible to change one part of this triangle without having an effect on the other sides. The three constraints of project management will almost always be competing with each other. If a team decides to enlarge the scope of a project, the time will become larger as well, along with the cost. Understanding the scope, time, and cost constraints of project management is very important for those who wish to be successful with this process. If even one of these constraints are not properly used, the project will be a complete failure.
Fishbone diagram is also know as...
cause-and-effect