Cycle-Time Analysis Variability is often considered to be the enemy of efficient and effective management. One approach to managing cycle times to improve delivery dependability is to map out the associated activities in a value-added process using a process flow diagram (see diagram in problem þelow). This allows the manager to identify and measure the specific activities so that the management process can be made more effective. The following problem illustrates the use of cycle time analysis.
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
![Cycle-Time Analysis
Variability is often considered to be the enemy of efficient and effective management. One
approach to managing cycle times to improve delivery dependability is to map out the associated
activities in a value-added process using a process flow diagram (see diagram in problem þelow). This
allows the manager to identify and measure the specific activities so that the management process can
be made more effective. The following problem illustrates the use of cycle time analysis.
Problem
Company X has recently completed an analysis of its primary value-added process. As part of this
analysis, the major flows have been mapped such that the process has been broken down into 10 major
activities. To better understand the process, the times to complete,each of these activities have been
carefully monitored over the past month. The results of this monitoring follow.
(3:3)
(1:0.4)
(10:6)
(5:2.8)
Activity 4
Standard
Mean Deviation
Activity 5
Activity 6
Activity 7
Activity
8
2.4
1.2
4
Activity 3 (15:2.1)
Activity 8
(3:3)
15
2.1
4
3
3.0
1
0.4
Activity 2 (4:1.2)
Activity 9 (20:4.5)
6
10
6.0
7
2.8
8
3
3
Activity 1
(8:2.4)
Activity 10 (4:0.3)
9
20
4.5
0.3
10
4
(Mean: Standard Deviation)
DFC
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![(Mean: Standard Deviation)
Your Answers
What is the average completion time for this value-added process?
What is the standard deviation for the entire process?
What is the probability that process will be completed in 75 hours?
in 80 hours?
in 70 hours?
Develop a 95 percent confidence interval for the process.
If you aren't confident in your ability to make delivery promises, where
should you target your improvement efforts? How would you proceed?
DFom
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