MMPC009
MMPC009
“As distinct from intermittent flow processes, all outputs are treated alike in
the continuous form of processing and the workflow is thus relatively continuous.”
Comment on the statement. Also, explain the characteristics of continuous
processes
Q2. “Time Management of the project is the first case that is usually done
by using Critical Path Method (CPM) and in the second case using
Programme Evaluation and Review Techniques (PERT).” Explain, in view of
the statement, the critical path method in brief.
The Critical Path Method (CPM) is a project management tool used to plan,
schedule, and manage projects effectively. It is used to determine the critical path
or sequence of activities that must be completed on time for the project to be
completed within the given deadline.
The critical path is the longest sequence of activities that cannot be delayed
without delaying the entire project. By identifying the critical path, project
managers can determine which activities are essential to the project’s success and
allocate resources accordingly.
The CPM technique involves identifying all the activities required to complete the
project, estimating the duration of each activity, and determining the
interdependencies between the activities. Then, a network diagram is created that
shows the sequence of activities and the critical path. The critical path is
determined by calculating the earliest and latest start and finish times for each
activity.
Once the critical path is identified, project managers can focus on monitoring and
controlling the activities on the critical path to ensure that they are completed on
time. They can also use the information from the CPM to make informed
decisions about resource allocation, risk management, and schedule changes.
Overall, the CPM is an effective project management tool that helps project
managers to plan, schedule, and manage projects effectively by identifying the
critical path and ensuring that the project is completed on time.
On the other hand, resource management can also support waste management
efforts. By prioritizing the efficient use of resources and reducing waste
generation, resource management can help to minimize the amount of waste
that requires disposal. For instance, sustainable design and production practices
can help to create products that are less likely to become waste or require less
energy and resources to produce.
In conclusion, waste management and resource management are two sides of the
same coin. By working together, these two concepts can help to promote a more
sustainable and efficient use of resources while minimizing the negative impact
of waste on the environment.
Q5. What do you understand by the term inventory? Explain the functions
of inventory.
Inventory refers to the goods or materials held by a business for the purpose of
resale or production. It includes finished goods, raw materials, and work-in-
progress items. The inventory is a significant asset for businesses and plays a
crucial role in the supply chain management process.