INSE 6230– Total Quality Project Management Fall 2013‚ Instructor: Dr. Chun Wang Assignment 1 Part 1 Short Answer Questions Chapter 1 1. Why is there a new or renewed interest in the field of project management? Project management is very important for a good business because it provides the project managers to aim for the success of the project. The computer hardware‚ software and networks have radically changed the work environment. Timing is the important factor in the business
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Tools of Total Quality Management Presenter : Ms Rina Sajise Seven (7) Tools of TQM Pareto Analysis: Pareto Chart 45 120% 40 100% 35 30 80% 25 60% 20 15 40% 10 20% 5 Vilfredo Pareto – Italian Economist 0 No signature Non-legible writing Current Customer Frequency Operations Management: An Asian Perspective (William J. Stevenson and Sum Chee Chuong) No address Cumulative Percentage Other 0% Understanding the Pareto Principle Doing 20% of work generates advantage of 80% of
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perhaps‚ the molecular level. The developments and progress in artificial intelligence and molecular technology have spawned a new form of technology; Nanotechnology. Nanotechnology could give the human race eternal life‚ or it could cause total annihilation. The idea of nanotech was conceived by a man named K. Eric Drexler (Stix 94)‚ which he defines as "Technology based on the manipulation of individual atoms and molecules to build structures to complex atomic specifications (Drexler
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Total Compensation Methods Paper The purpose of this paper is to provide an analytical overview of compensation strategies within organizations. First‚ an analysis of the impact of various compensation methods and benefit programs on employees and organizations will be discussed followed by how salary and benefit administration strategies relate to organizational culture and performance. What are compensation and benefit strategies? Compensation and benefit strategies are ways that organizations
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companies utilize are the total revenue to total cost approach and the marginal revenue to marginal cost approach. To attain their goal of achieving the highest level of profit‚ Company A uses these methods to determine the appropriate output level to achieve their goal. Both methods arrive at the same level. In the first approach‚ Company A first determines its total revenue by multiplying the number of widgets sold by the price of the widget. Next it determines its total cost which comprises
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of operating changes (such as changes in selling price or variable cost or fixed costs) upon profit. The break-even point is the point where total revenues equal total expenses‚ the point where profit equals zero. This can be expressed as: Total revenue – Total variable cost – Total fixed cost = $0 or Total revenue = Total variable cost + Total fixed cost A. Shortcut to Calculating Break-Even Units To determine how many units
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Solvency Ratio | | | | | | | | | | | | | | | | Long-Term Solvency Rate = | Total Assets | $359‚863.00 | | | 1.39 | | | | Total Liabilities | $259‚979.00 | | | | | | | | | | | | | | | | | | | | | | Contribution Ratio | | | | | | | | | | | | | | | | | Contribution Ratio= | Largest Revenue Source | $632‚889.00 | | | 0.51 | | | Total Revenues | | $1‚244‚261.00 | | | | | | | | | | | | | | | | | | | |
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output of any given product ties closely in the total revenue‚ because‚ dependent upon the final amount of additional units sold‚ the total revenue of a product can be determined. A fluctuation in the marginal revenue is equivalent to the final calculated total revenue. Businesses establish and define total revenue by multiplying the price of an item for sale by the number of items that sold. Demand for products‚ which can be elastic‚ affect the total revenue of the companies that sell those items
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Chapter 05 Cost Behavior: Analysis and Use Answer Key True / False Questions 1. Economists correctly point out that many costs that the accountant classifies as variable are actually curvilinear. TRUE AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Measurement Bloom ’s: Comprehension Learning Objective: 1 Level: Easy 2. A cost that is obtained in large chunks and that increases or decreases only in response to fairly wide changes in the activity
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PERFECT COMPETITION PERFECT COMPETITION Perfect competition (PC) is also called pure competition. Market structure that characterized by many small firms‚ which sells homogenous‚ easy entry and exit‚ and perfect knowledge of the market. Many small firms The exact number of firms cannot be stated‚ but there are a large number of small firms that each firm has no significant share of output. Homogenous products The products produced by firms are identical or standardized
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