Management and Administration Flashcards
Which act made the use of cost benefit analysis common in the U.S.
Federal Navigation act of 1936
This act required that the U.S. Army Corps of Engineers undertake waterway system projects when the total benefits exceed the costs of the project.
Who conceived the Cost Benefit Analysis
Jules Dupuit, 1848
What is the cost benefit analysis
ALL costs and benefits must be converted to MONETARY VALUE
The costs and benefits must be set for a particular time and for a specified location.
To determine the cost-benefit, the proposed project is compared to the current situation without the project.
If the ratio of benefits over costs is greater than one, then the monetary benefits of the project outweigh its monetary costs. In comparing multiple project alternatives, the largest ratio creates the highest net monetary value.
What is the Cost Effectiveness Analysis and equation
methos for selecting competing projects when RESOURCES ARE LIMITED.
(Cost of New Strategy - cost of current practice)/(Effect of new strategy - effect of current practice)
What is a Gantt Chart
each task represented by a horizontal bar on xy axis. x axis is time.
The length of each bar corresponds to length of time per task.
What is linear programming
is a project management method that attempts to find the optimum design solution for a project. This system takes a set of decision variables, within constraints, and generates an optimum design solution
What is Program Evaluation and Review technique, when to use it
scheduling method that graphically illustrates interrelationships of project tasks.
PERT is good to use when PRECISE TIME ESTIMATES ARE NOT AVAILABLE for project tasks.
- Identify the specific activities and milestones;
- Determine the proper sequence of the activities;
- Construct a network diagram;
- Determine the critical path;
- Update the PERT chart as the project progresses.
What kind of projects are best to use Critical Path Method and Program Evaluation and Review Technique?
large-scale projects, typically project management software is used to perform this kind of analysis
what is a MATRIX organization
encourage interdisciplinary approaches to problem solving., can be difficult to manage and ineffective for large organizations.
What is ROMA
Results Oriented Management and Accountability,
a sound management practice that incorporates the use of outcomes or results into the administration, management, and operation of community action agencies
zero based budgeting
budget start at zero, and add on things you need, not necessarily what you did last year
Baseline budgeting
assumes last year budget as baseline
political budgeting
projects that are more popular get more budgeting
Artificial neural networks
speech and pattern recognition
The 5 Levels of Vehicle Autonomy
Level 0 No automations
Level1 Driver Assistances
Level 2 Occasional self drivings
Level 3 Limited Self Drivings
Level 4 Full Self Driving under certain conditions
Level 5 Full self driving under all conditions
