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CPM vs PERT in Project Management

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Questions and Answers

What does the symbol 'd' represent in queuing theory?

queue discipline

What is the significance of the exponential distribution in queuing theory?

It has the Markovian property, making it completely random.

What is the purpose of a Performance Indicator (PI)?

To measure the performance of a system or process by comparing actual conditions with a set of reference conditions.

What is the difference between leading and lagging indicators?

Leading indicators provide an early warning of performance conditions, while lagging indicators indicate performance after activities are completed. Signup and view all the answers

What is the significance of the 'distance to target' assessment in Performance Indicators?

It measures the difference between the current environmental situation and the desired situation. Signup and view all the answers

What is SIRO in queuing theory?

Service in random order. Signup and view all the answers

What is the role of M in queuing theory?

It corresponds to the exponential or Poisson distributions. Signup and view all the answers

What are lagging indicators examples of?

Financial indicators that indicate performance after the activities are completed. Signup and view all the answers

What is the purpose of Performance Indicators in companies?

To highlight opportunities for improvement. Signup and view all the answers

What is the significance of the Markovian property in queuing theory?

It makes the distributions completely random. Signup and view all the answers