Operations and Supply Chain Management The Core

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PROJECTS chapter 5 133Sample of Graphic Project Reportsexhibit 5.4A. Gantt Chart for Single ActivitiesActivityContractnegotiatedContractsignedLong leadprocurementManufacturingschedulesBill-ofmaterialsShort leadprocurementMaterialspecificationsManufacturingplansStart-upDollars $B. Total Program Cost BreakdownTotal $Overhead $Material $Labor $Time24 6 8 10 12 14 16Weeks after start of project1820D. Cost and Performance Tracking ScheduleProject 1C. Divisional Breakdown of Costs and Labor HoursPercentage of labor hoursPercentage of cost50Manufacturing40Project 2Project 3ProjectedCompleted201510FinanceEngineeringOverhead101525Totalprogramcosts $TimeProjectedActualOverruns5Personnel1060 40 20 00 20 40TimeTracking date lineE. Bar/Milestone ChartShort leadprocurement1 2 39 10 11Weeks after start of projectMilestones1. Purchase order release2. Invoices received3. Material received
134 OPERATIONS AND SUPPLY CHAIN MANAGEMENTbottom. Exhibit 5.4B graphs the amounts of money spent on labor, material, and overhead.Its value is its clarity in identifying sources and amounts of cost.Exhibit 5.4C shows the percentage of the project’s labor hours that come from the variousareas of manufacturing, finance, and so on. These labor hours are related to the proportionof the project’s total labor cost. For example, manufacturing is responsible for50 percent of the project’s labor hours, but this 50 percent has been allocated just 40 percentof the total labor dollars charged.The top half of Exhibit 5.4D shows the degree of completion of these projects. The dottedvertical line signifies today. Project 1, therefore, is already late because it still has workto be done. Project 2 is not being worked on temporarily, so there is a space before theprojected work. Project 3 continues to be worked on without interruption. The bottom ofExhibit 5.4D compares actual total costs and projected costs. As we see, two cost overrunsoccurred, and the current cumulative costs are over projected cumulative costs.Exhibit 5.4E is a milestone chart. The three milestones mark specific points in the projectwhere checks can be made to see if the project is on time and where it should be. Thebest place to locate milestones is at the completion of a major activity. In this exhibit,the major activities completed were “Purchase order release,” “Invoices received,” and“Material received.”Other standard reports can be used for a more detailed presentation comparing cost toprogress (such as cost schedule status report—CSSR) or reports providing the basis forpartial payment (such as the earned value report, which we discuss next).Earned valuemanagement (EVM)Technique thatcombines measuresof scope, schedule,and cost forevaluating projectprogress.Earned Value Management (EVM)Earned value management (EVM) is a technique for measuring project progress in anobjective manner. EVM has the ability to combine measurements of scope, schedule, andcost in a project. When properly applied, EVM provides a method for evaluating the relativesuccess of a project at a point in time. The measures can be applied to projects focusedon either “revenue generation” or “cost,” depending on the type of project.Essential features of any EVM implementation include the following:∙ A project plan that identifies the activities to be accomplished.∙ A valuation of each activity work. In the case of a project that generates revenue, thisis called the Planned Value (PV) of the activity. In the case where a project is evaluatedbased on cost, this is called the Budgeted Cost of Work Scheduled (BCWS) forthe activity.∙ The predefined “earning or costing rules” (also called “metrics”) to quantify theaccomplishment of work, called Earned Value (EV) or Budgeted Cost of WorkPerformed (BCWP).The terminology used in the features is general since the valuations could be based oneither a value measure (revenue or profit) or a cost measure. EVM implementations forlarge or complex projects include many more features, such as indicators and forecasts ofcost performance (overbudget or underbudget) and schedule performance (behind scheduleor ahead of schedule). However, the most basic requirement of an EVM system is thatit quantifies progress using PV (or BCWS) and EV (or BCWP).Project Tracking without EVM It is helpful to see an example of project tracking thatdoes not include earned value performance management. Consider a project that has been
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Operations and SupplyChain Manageme
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To Cole, Connor,and Grant—the nex
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viiPREFACEJust as lava flows from t
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ixA NOTE TO INSTRUCTORSOperations a
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TECHNOLOGY xisoftware, EZ Test and
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For StudentsEffective, efficient st
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WALKTHROUGH xvOpening VignettesEach
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related to resources such as invent
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WALKTHROUGH xixAnalytics ExercisesT
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xxiCONTENTS1 OPERATIONS AND SUPPLY
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CONTENTS xxiiiConcept Connections 2
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In the context of major business fu
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OPERATIONS AND SUPPLY CHAIN MANAGEM
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products and interconnected service
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STRATEGY AND SUSTAINABILITY chapter
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The creation of a single, globallog
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FORECASTING chapter 3 47In Chapter
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FORECASTING chapter 3 49Common Type
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FORECASTING chapter 3 51Forecast De
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FORECASTING chapter 3 53Although ma
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FORECASTING chapter 3 55Exponential
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FORECASTING chapter 3 57the chapter
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FORECASTING chapter 3 59wherea = Y
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FORECASTING chapter 3 61Decompositi
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FORECASTING chapter 3 63Example 3.4
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FORECASTING chapter 3 65limits) to
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FORECASTING chapter 3 67whereRSFE =
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FORECASTING chapter 3 69Because the
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FORECASTING chapter 3 71products, a
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FORECASTING chapter 3 73Step 5. Inv
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S yt = √FORECASTING chapter 3
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FORECASTING chapter 3 77SOLVED PROB
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FORECASTING chapter 3 79The seasona
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FORECASTING chapter 3 81OBJECTIVE Q
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recommendations are based on past p
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SERVICE PROCESSES chapter 7 205airf
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SERVICE PROCESSES chapter 7 217Numb
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SERVICE PROCESSES chapter 7 231LO7-
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SERVICE PROCESSES chapter 7 235ANAL
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SERVICE PROCESSES chapter 7 237Give
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∙ Marketing chimes in with, “We
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SALES AND OPERATIONS PLANNING chapt
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Memory—made by Toshiba and SK Hyn
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MATERIAL REQUIREMENTS PLANNING chap
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founded by Walt Disney in 1923. Con
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QUALITY MANAGEMENT AND SIX SIGMA ch
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QUALITY MANAGEMENT AND SIX SIGMA
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markets. The firm has invested heav
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INVENTORY MANAGEMENT chapter 11 351
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INVENTORY MANAGEMENT chapter 11
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manufacturing without limiting styl
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LEAN SUPPLY CHAINS chapter 12 399Le
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are manufactured in Japan, horizont
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GLOBAL SOURCING AND PROCUREMENT cha
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small arrow hidden there. This arro
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LOCATION, LOGISTICS, AND DISTRIBUTI
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After running Solver, we get the fo
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481APPENDIX ALINEAR PROGRAMMINGUSIN
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LINEAR PROGRAMMING USING THE EXCEL
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ANSWERS TO SELECTED OBJECTIVE QUEST
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507APPENDIX DNEGATIVE EXPONENTIALDI
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509NAME INDEXAAlvarez, Ricardo, 236
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SUBJECT INDEX 511Crashing, 145-149C
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SUBJECT INDEX 513Linear programming
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SUBJECT INDEX 515Risk-hedging suppl
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