This topic covers supply chain management approaches, integrated processes, CSR in sourcing, technology's role, ERP performance, and TQM for project delive
Topic Synopsis
This topic covers supply chain management approaches, integrated processes, CSR in sourcing, technology's role, ERP performance, and TQM for project delivery. Learners critically evaluate supply chain behaviours.
Key Concepts & Core Principles
- Earned Value Management (EVM): A technique to measure project performance by comparing planned value, earned value, and actual cost. Key metrics include Cost Performance Index (CPI) and Schedule Performance Index (SPI).
- Critical Path Method (CPM): A scheduling technique that identifies the longest sequence of dependent activities, determining the minimum project duration. Float or slack is calculated for non-critical activities.
- Risk Management: The process of identifying, analyzing, and responding to project risks. Includes qualitative and quantitative risk analysis, risk registers, and mitigation strategies like avoidance, transfer, or acceptance.
- Cost Estimation and Budgeting: Techniques like analogous, parametric, and bottom-up estimating. Understanding cost baselines, contingency reserves, and management reserves.
- Performance Measurement Baseline (PMB): The integrated scope, schedule, and cost baseline against which project performance is measured. Changes are managed through a formal change control process.
Exam Tips & Revision Strategies
- Use case studies to illustrate CSR and technology impacts.
- Understand the difference between push and pull supply chains.
- Remember that TQM focuses on continuous improvement.
Common Misconceptions & Mistakes to Avoid
- Confusing supply chain and logistics definitions.
- Overlooking the importance of sustainability in sourcing.
- Failing to link TQM principles to supply chain outcomes.
Examiner Marking Points
- Compares different supply chain management approaches.
- Analyses the role of CSR in sourcing and distribution.
- Evaluates the impact of technology and ERP on supply chain performance.
- Explains how TQM improves supply chain processes for project success.