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MB0049 Assignement Answer

MB0049 Assignement Answer

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Published by Hemant Kumar
Here are some of the answers of MB0049 assignment set 2 of semester 2.
Here are some of the answers of MB0049 assignment set 2 of semester 2.

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Categories:Types, Research
Published by: Hemant Kumar on Nov 19, 2010
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02/16/2013

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 b. Knowledge areas of project management: The Project Management Body of Knowledge (PMBOK)is a collection of processes and knowledge areas generally accepted as best practice within the projectmanagement discipline. As an internationally recognised standard (IEEE Std 1490-2003) it provides thefundamentals of project management, irrespective of the type of project be it construction, software,engineering, automotive etc.PMBOK recognises 5 basic process groups and 9 knowledge areas typical of almost all projects. The basic concepts are applicable to projects, programs and operations.The five basic process groups are:• Initiating• Planning• Executing• Monitoring and Controlling• Closing• Processes overlap and interact throughout a project or phase.Processes are described in terms of:• Inputs (documents, plans, designs, etc.)• Tools and Techniques (mechanisms applied to inputs)• Outputs (documents, products, etc.)The nine knowledge areas are:1. Project Integration Management2. Project Scope Management3. Project Time Management4. Project Cost Management5. Project Quality Management6. Project Human Resource Management7. Project Communications Management8. Project Risk Management9. Project Procurement ManagementEach knowledge area contains some or all of the project management processes. For example, Project Procurement Management includes:• Procurement Planning• Solicitation Planning• Solicitation• Source Selection• Contract Administration• Contract CloseoutMuch of PMBOK is unique to project management e.g. critical path and work breakdown structure(WBS). Some areas overlap with other management disciplines. General management also includes planning, organising, staffing, executing and controlling the operations of an organisation. Financialforecasting, organisational behaviour and planning techniques are also similar.0 comments Labels:MB0049,Semester 2 
Solution:
a) Importance of DMAIS in project management cycle: The projectised mantras of productionmanagement can be broadly identified as - Define Measure, Analyze, Improve, Standardize (DMAIS).These projectised mantras help in identifying, evaluating, and selecting the right improvement solutions
 
for managing a project. The mantras also help in identifying the critical issues thus assisting theorganization to adapt to the changesintroduced through the implementation of different solutions.The phases associated with each projectised mantra of production management are:1. Define: benchmark, customer requirement, process flow map, quality function deployment, projectmanagement plan2. Measure: data collection, defect metrics, sampling3. Analysis: cause and effect, failure modes and effect analysis, decision and risk analysis, root causeanalysis, reliability analysis4. Improve: design of experiments, modeling, and robust design5. Standardize: control charts, time series, procedural adherence, performance management, preventiveactivities displays the various phases of DMIAS.0 comments Labels:MB0049,Semester 2 
Answer:
Operation Research is a scientific method of providing executive departments with a quantitative basisfor decisions regarding the operations under their control. – Morse & Kimball Operations research is ascientific approach to problem solving for executive management. – H.M. Wagner Operations researchis an aid for the executive in making these decisions by providing him with the needed quantitativeinformation based on the scientific method of analysis. The mission of Operations Research is to servethe entire Operations Research (OR) community, including practitioners, researchers, educators, andstudents. Operations Research, as the flagship journal of our profession, strives to publish results thatare truly insightful. Each issue of Operations Research attempts to provide a balance of well-writtenarticles that span the wide array of creative activities in OR. Thus, the major criteria for acceptance of a paper in Operations Research are that the paper is important to more than a small subset of the OR community,contains important insights, and makes a substantial contribution to the field that will standthe test of time. Operational research, also known as operations research, is an interdisciplinary branchof applied mathematics and formal science that uses advanced analytical methods such as mathematicalmodeling, statistical analysis, and mathematical optimization to arrive at optimal or near-optimalsolutions to complex decision-making problems. It is often concerned with determining the maximum(of profit, performance, or yield) or minimum (of loss, risk, or cost) of some real-world objective.Originating in military efforts before World War II, its techniques have grown to concern problems in avariety of industries. Operational research,also known as operations research, is an interdisciplinary branch of applied mathematics and formalscience that uses advanced analytical methods such as mathematical modeling, statistical analysis, andmathematical optimization to arrive at optimal or near-optimal solutions to complex decision-making problems. It is often concerned with determining the maximum (of profit, performance, or yield) or minimum (of loss, risk, or cost) of some realworld objective. Originating in military efforts beforeWorld War II, its techniques have grown to concern problems in a variety of industries.Operational research encompasses a wide range of problem-solving techniques and methods applied inthe pursuit of improved decision-making and efficiency. Some of the tools used by operationalresearchers are statistics, optimization, probability theory, queuing theory, game theory, graph theory,decision analysis, mathematical modeling and simulation.Because of the computational nature of these fields, OR also has strong ties to computer science.Operational researchers faced with a new problem must determine which of these techniques are mostappropriate given the nature of the system, the goals forimprovement,and constraints on time andcomputing power.Work in operational research and management science may be characterized as one of three categories:Fundamental or foundational work takes place in three mathematical disciplines: probability,optimization, and dynamical systems theory.Modeling work is concerned with the construction of models, analyzing them mathematically,implementing them on computers, solving them using software tools, and assessing their effectivenesswith data. This level is mainly instrumental, and driven mainly by statistics and econometrics.Application work in operational research, like other engineering and economics' disciplines, attempts touse models to make a practical impact on real-world problems.• The major sub disciplines in modern operational research, as identified by the journalOperations Research, are:• Computing and information technologies• Decision analysis• Environment, energy, and natural resources• Financial engineering• Manufacturing, service sciences, and supply chain management
 
• Policy modeling and public sector work • Revenue management• Simulation• Stochastic modelsTransportation0 comments Labels:MB0048,Semester 2 
Answer:
a. Operations Research is an interdisciplinary branch of applied mathematics and formal science thatuses methods such as mathematical modeling, statistics, and algorithms to arrive at optimal or near optimal solutions to complex problems. It is typically concerned with optimizing the maxima (profit,assembly line performance, crop yield, bandwidth, etc) or minima (loss, risk, etc.) of some objectivefunction. Operations research helps management achieve its goals using scientific methods. The termsoperations research and management science are often used synonymously. When a distinction isdrawn, management science generally implies a closer relationship to the problems of businessmanagement. The field of operations research is closely related to Industrial engineering. Industrialengineers typically consider Operations Research (OR) techniques to be a major part of their toolset.Some of the primary tools used by operations researchers are statistics, optimization, probability theory,queuing theory, game theory, graph theory, decision analysis, and simulation. Because of thecomputational nature of these fields, OR also has ties to computer science, and operations researchersuse custom-written and off-the-shelf software.Operations research is distinguished by its frequent use to examine an entire management informationsystem, rather than concentrating only on specific elements (though this is often done as well). Anoperations researcher faced with a new problem is expected to determine which techniques are mostappropriate given the nature of the system, the goals for improvement, and constraints on time andcomputing power. For this and other reasons, the human element of OR is vital. Like any other tools,OR techniques cannot solve problems by themselves.Scope of operation ResearchExamples of applications in which operations research is currently used include:• Critical path analysis or project planning: identifying those processes in a complex project whichaffect the overall duration of the project• Designing the layout of a factory for efficient flow of materials• Constructing a telecommunications network at low cost while still guaranteeing QoS (quality of service) or QoS (Quality of Experience) if particular connections become very busy or get damaged• Road traffic management and 'one way' street allocations i.e. allocation problems.• Determining the routes of school buses (or city buses) so that as few buses are needed as possible• designing the layout of a computer chip to reduce manufacturing time (therefore reducing cost)Managing the flow of raw materials and products in a supply chain based on uncertain demand for thefinished products• Efficient messaging and customer response tactics• Robotizing or automating human-driven operations processes• Globalizing operations processes in order to take advantage of cheaper materials, labor, land or other  productivity inputs Managing freight transportation and delivery systems (Examples: LTL Shipping,intermodal freight transport)• Scheduling:○ Personnel staffing○ Manufacturing steps○ Project tasks○ Network data traffic: these are known as queuing models or queueing systems.○ sports events and their television coverage blending of raw materials in oilrefineries determining optimal prices, in many retail and B2B settings, within the disciplines of pricingscienceOperations research is also used extensively in government where evidence-based policy is used.0 comments Labels:MB0048,Semester 2 

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