Skip to main content

Posts

Showing posts with the label Engineering Management

The general safety measures taken during civil engineering construction.

The following safety measures are taken during civil engineering construction. (i) Suitable scaffolds should be provided for workmen. (ii) When ladder are used, it should be provided with foot holds and hand holds and inclination of one is to four (1 horizontal : 4 vertical) be provided. (iii) The scaffolding should be properly supported and shall have a guard rail property attached to it. (iv) Every opening in floor of a building should be provided with suitable means to prevent the fall of persons or materials. (v) Fencing and lights shall be provided to protect the public from accident. (vi) The excavated material shall not be placed within 1.5m of the edge of the trench or half the depth whichever is more to avoid collapse of sides due to surcharge. (vii) No undermining or undercutting shall be allowed. (viii) All roads and open areas adjacent to any side where demolition is to be carried out, must be closed or suitably protected. (ix) No electrical cable etc. shall remain electric...
Post a Comment
Read more

The concept of financial management. The important characteristics of financial management.

Financial management is the most important branch of business administration. One cannot think of any business activity in isolation from its financial implications. Acceptance and rejection of any business position depends on the basis of its financial viabilities. So we can say that finance is considered the life blood of a business enterprise. business finance is a broader term then corporation finance because the later deals with the financial problems of corporate enterprise whereas the former is considered with the financial problems of proprietorship, partnership companies and other types of business enterprises.  Characteristics of financial management: The importance of financial management is described below: (a) It is the most important and excellent tool by which funds are raised from various sources for onward allocation on various projects. (b) It provides desigining and implementation of plans for effective utilization of funds so raised. (c) It makes decision on fin...
Post a Comment
Read more

The role of safety stock in an MRP system.

  If there were randomness in lead times and production rates and variation in defect or scrap rates, production and purchasing could be schedules to meet all requirements exactly as needed with safety stocks. The key to adapting to these uncertainties efficiently is to determine which items and processes are most subject to randomness, as well as the types and causes of the variation. For those items in which variations are prevalent, we want to determine whether the variation is in time or in quantity. If the variations are in the quantity produced. safety stocks can make up for small production short falls and keep the process operating. For regularly produced items, small amounts of safety stock of the end product and/ or strategically selected components can compensate for minor production or procurement shortages and possibly for short time delays.    
Post a Comment
Read more

Master Production Schedule

The Master Production Schedule file contains the master production schedule for each product. The master production schedule (MPS) for a product specifies how much of the end product is needed or is to be produced and when. The MPS is derived from the aggregate production plan based on demand forecast, customer's orders and capacity limitation. The MPS is divided into time periods called time buckets. These time buckets are usually conventional units of time, most frequently weeks, one day, two week and one month time buckets are quite common. The time buckets need not be the same for the entire schedule. The planning horizon for an MPS should be atleast as the cumulative lead time for the product. The cumulative lead time is the amount of time required from when the first procurement or production activity must occur until the end product is produced.  
Post a Comment
Read more

Policy/ Procedure recommended to improve the inventory operation in a departmental store.

Policy/ Procedure recommended to improve the inventory operation: The various steps are as follows: (i) Items with no issues and receipts in last year should be identified in the beginning of the financial year. (ii) In the cases, where items have been received without any issues, matter should be investigated. These investigation may reveal either of the following: (a) Items are few and new project utilization is expected to be started in near future. (b) Items are received for the production planned a few months later. (c) The item is a replacement for an obsolete item, but will be issued only after existing stock of the obsolete item is exhausted. (d) The item is for a product whose production has been suspended or delayed due to temporary slump in the demand. (e) Items are supplied much ahead of the requirement. (f) The item is not required. The immediate action is called for the case (d) and (e) by rescheduling the deliveries and reducing the total order quantities. In case of (f)...
Post a Comment
Read more

Support of linear programming in a site selection problem.

Linear Programming Technique :  Linear Programming providing a means of finding optimum solution to practical problems. It can be used in a situation where it is required to maximize or minimize some quantity which is a function of a set of variables, subjected to certain rules or constraints. The quantity to be maximized or minimized is known as the objective function, and takes the form of a linear equation. The constraints can be written as a series of linear equations or inequalities. Every linear programming problem has its original or primial solution and also a dual. If the primal problem in one of maximisation the dual will be one of minimisation and vice versa, so that dual can be thought as the primal problem turned inside out. The formation of location problems in linear programming terms help to reveal something of their general nature, stressing their common structural characteristics. Linear programming can be used for solving plant location problem such as: (i) The l...
Post a Comment
Read more

The merits and limitations of trait-based and objective based appraisal systems.

  Appraising on the basis of performance against objective has the great advantage of being operational. Appraisals are not apart from the job that managers do but are a review of what they did as managers. There are always questions of how well a person did ; of whether goals were missed or accomplished, and for what reasons; and of how much in the way of goal attainment should be expected. But information about what a  person has done, measured against what that individual agreed was a reasonable target available. This information furnishes strong presumptions of objectivity and reduces the element of pure judgement in appraisal which gives better visibility to managerial needs, development programmes can be better pinpointed. There are certain weaknesses in the implementation of objective based appraisal. One of them is that it is entirely possible for persons to meet a miss goals through no fault of their own luck which often plays a part in performance. For example a new ...
Post a Comment
Read more

The purpose of staffing. The factors to be incorporated in the staffing system.

The purpose of staffing refers to the following: (i) Recruitment (ii) Training and retraining. (iii) Motivating the people, in order to introduce self control. (iv) To place right persons in right positions. (v) To promote deserving persons on vacant posts. (vi) Develop persons for the better prospects of the individual as well as of organisation.  Process of staffing is affected by several environmental factors. These factors can be grouped into following two categories: (i) External environmental factors: External environmental factors affect staffing to various degrees. these factors can be grouped into educational, socio-cultural, legal political and economical factors. (i.e. economic constrains or opportunities). (ii) Internal environmental factors: Staffing is also affected due to promotion policy i.e. whether the promotion from within the organisation or through open competition. Other main factors that affects the staffing are: Organisational goals, tasks, technology, org...
Post a Comment
Read more

Delegation is neither decentralization nor are their purpose the same.

Delegation is a process, while decentralisation is the end result of delegation and dispersal of authority. Delegation mainly refers to the granting of authority and the creation of responsibility as between the individual and superiors whereas decentralisation is the situation which exists as a result of the systematic delegation of authority throughout the organisation. In delegation, a superior continues to be responsible for the work delegated to his subordinates, while in decentralisation the superior is relieved from his responsibility for the work decentralised and the subordinate become liable for that. Delegation is vital and essential to the management process. Only through delegation, subordinates can be involved in the organisation and the management can get things done. Decentralized is optional, in the sense that it may or may not be practised as a systematic policy.  
Post a Comment
Read more

SWOT analysis and its importance in setting of objectives and planning of strategies in an organisation.

 SWOT Analysis: S stands for strength, W stands for weakness, O for opportunities, T stands for threats. It has been common to suggest that companies identify their strengths and weaknesses, as well as the opportunities and threats in the external environment. The SWOT analysis are based on the analysis of the external environment (threat and opportunities) and the internal environment (weakness and strengths). (i) The WT strategy aims to minimize both weakness or threats and may be called the minimum strategy. It may require that the company, for example, from a joint venture, retrench or even liquidate. (ii) The WO strategy attempts to minimise the weakness and maximize the opportunities. Thus, a firm with certain weakness, in some areas may either develop those areas within the enterprise or acquire the needed competencies from the outside, making it possible to take advantages of opportunities in the external environment. (iii) The ST strategy is based on the organisation's str...
Post a Comment
Read more

The purpose of Planning.

Purpose of Planning: Planning is a main function of management. Planning means deciding in advance as to what is to be done, how and where is to be done, when is to be done, who will do it, and how the results are to be evaluated. Planning means to assess the future and make provisions for it. Planning is necessary to ensure proper utilisation of resources to achieve the objectives of the enterprise. For the purpose of planning, following steps are taken by the planning manager: (i) Recognition of the need of planning: Problem or nesessity must be identified which has necessitated planning.  (ii) Analysis of environment: The analysis of environment helps in identification of strengths, weaknesses, opportunities and threats. External environmental factor such as government policies, national economy, competitions, availability of resources etc. are to be analysed. (iii) Statement of mission: This identifies the products/ services, prospective customers, values of products/ servic...
Post a Comment
Read more

The approach to the 'scientific management principle' of Taylor and its limitations.

Approach to the scientific management principle developed by F. W. Taylor reformed the management through a thoughtful and systematic discipline to its problem. Taylor found that, various type of wastes relating to material, time and efficiency etc. are due to the lack of order and system in the management. He emphasized that usually management was ignoring about the amount of work performed by a worker in a day, and also about the best way of doing a job. Some significant achievement of Taylor are listed below:  (i) Work Study: This technique is used for work measurement and work improvement. Taylor scientifically conducted time and motion studies, method study and fatigue study etc. Work study is also used to determine the standard time to perform each operation to eliminate wastage with less fatigue. (ii) Standardisation of tools and equipment of workmanship and working conditions are very important. Taylor gave his attention to the best size shovel for different types of mater...
Post a Comment
Read more

Project - The elements of a successful project - Tools available for scheduling & controlling project.

Project: A project is a specific activity on which money is spent in the expectation of returns. It has a specific objectives, and has a specific geographic location and would serve a group of population while selecting a project, out of various alternatives, the decision is taken after careful consideration of cost and benefits. A successful project manager must simultaneously manage the four basic elements of a project. (i) Resources (ii) Time (iii) Cost (iv) Scope Tools for scheduling and controlling projects are as follows: (a) Gantt chart (b) Critical Path Method (CPM) (c) Programme Evaluation Review Techniques (PERT)  
Post a Comment
Read more

Cost approach for pricing.

Cost approach for pricing: Cost approach for pricing is mainly depend upon demand orientation. A high price is charged when the demand is strong and a low price when demand is weak, although the unit cost may be the same in both cases. This is referring to customer's perceived value of the product, and this value will include not only the performance of the product itself but psychological factors and service characteristics of the seller's offer. While this approach can be of works to many manufacturers, it has been and will be effective provided that the seller can maintain those perceived values or create new ones. In one case a replacement part was priced at three times as much as exactly the same part when specified for another brand/ company. In sort of a reverse twist on the perception idea, at a product was not selling well at all at what was thought to be a reasonable price. It was removed from the market repacked in a much more attractive manner, and returned to the m...
Post a Comment
Read more

Factors affecting pricing decision.

Factors affecting pricing decision: Pricing is the process of fixing the price for a product or service. The price means the exchange value of a product or service expressed in terms of money. The price is generally fixed on the basis of three factors namely. (i) Cost of production (ii) Demand for the production (iii) The degree of competition in the market  
Post a Comment
Read more

Marketing & Marketing Management

Marketing: Marketing mediates the interaction between the firm and its customers. Marketing often facilitates the identification of product opportunities. All the production activities are necessary and worth while, but it must be emphasized that they would all be useless without the ultimate sale of the product to a customer. The customer may be consumer who enjoys and ultimately consume the product. Marketing Management: Marketing management is concerned with planning, organizing, directing and controlling the activities relating to the marketing of goods and services to satisfy the desires of costomers. The functions of marketing management consists of (i) marketing research (ii) product planning (iii) advertising (iv) sales and (v) product service.  
Post a Comment
Read more

Quality - The cost of poor quality.

Quality:  Quality implies the ability of a product or service to satisfy a stated or implied need on the other hand, a quality product or service is free from defects or deficiencies. Cost of Poor Quality: Four basic costs are associated with poor quality as given below: (i) Prevention Cost: Those costs incurred in planning, implementing and maintaining a quality system. (ii) Appraised Cost: Cost incurred in determining the degree of conformance to the quality requirements. (iii) Internal Failure: Cost incurred when materials, parts, and components fail to meet the quality requirements for shipping to the customers. These parts are either scrapped or reworked. (iv) External Failure: Costs incurred when products fail to meet customer expectation. These results in warranty claims, ill will, or product laibility suits.  
Post a Comment
Read more

The cost for holding inventories.

Inventory holding cost: The holding cost is the cost actually keeping items in inventory. The primary components of holding costs are: (i) The opportunity cost of capital, (ii) Taxes and insurance, (iii) Breakage, spoilage, pilferage and obsolescence, and  (iv) Handling and storing. An inventory consists of usables but idle resources such as raw materials, component parts, finished assemblies and money etc. According to the need, inventories can be classified as follows: (i) Economic lot size: Since there is a fixed cost in procurement, hence it is economical to order beyond the immediate needs and divide the fixed ordering costs among the large number of units.  (ii) Stabilizing inventories: Some inventories are accumulated due to mismatch of the timing of production and sales on the other hand, demand is not predicted accurately, so some reserve stocks are necessary. These reserves are called fluctuating or stabilizing inventories . (iii) Anticipation inventories: These...
Post a Comment
Read more

The Puppose of Material management. Factors contributing significantly in material requirement planning.

Purpose of material management: Material management provide simple tools to maximize profit to the company by reducing the material cost of the product. Importance of material management is necessary due to following trends: (i) Globalization (ii) Reduced time to market (iii) Just-in-time inventories (iv) Large variety/ shorter life cycles (v) Responsibility The main purpose of material management is cost reduction and efficient handling of materials at all stages. Factors which contribute significantly in the material requirement planning are as follows: (i) Master products schedule (MPS) file (ii) The bill of material file, and  (iii) The inventory record file. The master production schedule file: The file contains the master production schedule for each product. The MSP for a product specifies how much of the end product is required or is to be produced and when. This is derived from the aggregate production plan based on demand forecast customer orders, and capacity limitations...
Post a Comment
Read more

Leadership & Motivation/ Two factor model of motivation.

Leadership:  Leadership is defined as influence, that is, the art of process of influencing people so that they will strive willingly and enthusiastically towards the achievement of group goals. Motivation: Motivation is the result of processes, internal or external to the individual, that arose enthusiasm and persistance to pursue a certain course of action. Two factor model of motivation:  The model is also called motivation hygiene theory. There are two distinct aspects of the motivation hygiene theory. The first and more basic part of the model represents a formally stated theory of work behaviour. The second aspect of Herzbers's work has focused upon the behavioural consequences of job enrichment and job realization programmes. According to Herzberg, satisfaction and dissatisfaction are not opposite poles of one dimension, they are two separate dimensions, Satisfaction is affected by motivations, and dis-satisfaction by hygiene factors. To achieve motivation, managers sho...
Post a Comment
Read more

The different functions of management.

Different functions of Management: Management is the dynamic life giving element in every business. The primary job of a manager is to achieve the enterprise objectives. In order to achieve the enterprise objectives he co-ordinates various activities of various people. In fact, functions of manager are almost same as functions of management. They are listed bwlow: Planning: (a) It is a process by which a manager anticipates the future and discovers alternative course of action open to him. (b) Without proper planning, the activities of an enterprise may become confused, haphazard and ineffective. (c) Prior planning is very essential for utilizing the available facilities. Organising: (a) It is the process by which the structure and allocation of jobs is determined. (b) It involves determining activities required to achieve the established company objectives, grouping of these activities logically so that these can be handled efficiently by subordinates, managers, etc. (c) Organising ...
Post a Comment
Read more

Popular posts from this blog

Funds, Working Capital, Net Working Capital & Income

  Funds are defined as total resources. Industrial enterprises has land, buildings, machinery, tools etc. This type of assets are called fixed capital. An enterprise needs funds to cover its cost of operating. Moreover there is a need of money to carry the enterprise during the time lag between the sale of its products and the payment for them. Funds are needed to cover these costs is commonly called as working capital. Net working capital is simply the difference between current assets and current liabilities. Income from business is found by deducting the outgoings from gross incomings.
Post a Comment
Read more

Fibre Reinforced Concrete

Fibre reinforced concrete is a composite material essentially consisting of conventional concrete or mortar reinforced by random dispersal of short, discontinuous and discrete fine fibres of 25-50mm long and 0.25 to 0.50 mm in diameter, consisting of 4 to 5% weight and of specific geometry. The fibres interlock and entangle around aggregate particles and considerably reduce the normal workability while mix becomes more cohesive and less prone to segregation. The fibres suitable for reinforcing the concrete have been produced froom steel, glass and organic polymers. Naturally occuring asbestos and vegetable fibres, such as jute are also used for reinforcement. Steel, carbon and glass have higher elastic moduli than cement mortar matrix and polypropylene and vegetable fibres are low modulus fibres. High modulus fibres improve both flexural and impact resistance simultaneously whereas low modulus fibre improve impact resistance of concrete but do not contribute much to flexural strength. ...
Post a Comment
Read more

Delegation is neither decentralization nor are their purpose the same.

Delegation is a process, while decentralisation is the end result of delegation and dispersal of authority. Delegation mainly refers to the granting of authority and the creation of responsibility as between the individual and superiors whereas decentralisation is the situation which exists as a result of the systematic delegation of authority throughout the organisation. In delegation, a superior continues to be responsible for the work delegated to his subordinates, while in decentralisation the superior is relieved from his responsibility for the work decentralised and the subordinate become liable for that. Delegation is vital and essential to the management process. Only through delegation, subordinates can be involved in the organisation and the management can get things done. Decentralized is optional, in the sense that it may or may not be practised as a systematic policy.  
Post a Comment
Read more