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Effective management of time
Time based management Reduced lead times
Time can be used as a The time taken
selling point ­ the ability between an order being
of the firm to respond to received and the final
a customer request product or service
Competitive advantage being delivered to or
E.g. AA and RAC pride provided for the
themselves on customer customer.
response times.…read more

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Effective management of time
Shorter product development times
Changes in customer demands and high failure rate
of new products ­ companies which can produce
new products quickly are able to stay competitive.
Continual market research- potential trends
Flexible production methods ­ modify products in
response to the market.
Inevitably this means that the product is brought to
the customer more quickly and can beat competitors
in terms of new products or fastest delivery.…read more

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Critical path analysis
Network analysis ­ a method of planning business
operations in order to identify the most efficient way of
completing an integrated task or project. The main form
of network analysis is critical path.
Critical path analysis ­ the process of planning the
sequence of activities in a project in order to discover the
most efficient and quickest way of completing it.
Critical path ­ the sequence of activities in a project
that must be completed within a designated time in order
to prevent any delay in overall completion of the project.
Critical activity- any activity on the critical path.…read more

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Features of critical path analysis
Nodes
Earliest start time (EST)
Latest finishing time (LFT)
Latest start time (LST)
Activities
Duration
Prerequisite
Dummies…read more

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The critical path
The critical path is the sequence of activities that
cannot be delayed without delaying the overall
completion of the project. It is represented by
activities that:
Have LFT's identical to their EST's
Represent the longest path between the nodes
Non critical activities are those that can be delayed
without extending the completion of the project.…read more

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