Principles of Management Learning Session # 21 Dr. A. Rashid Kausar

Re-cap of Session # 20

Planning and Decision Aids 2.For Allocating Resources: 2.1 Budgeting 2.2 Scheduling 2.3 Break even Analysis 2.4 Linear Programming

Planning and Decision Aids 2. For Allocating Resources: 2.1 Budgeting; The Budget is a numerical plan for allocating resources to specific activities in a specific period.

Planning and Decision Aids 2. For Allocating Resources: 2.2 Scheduling; Detailing what activities have to be done, the order in which they are to be completed, who is to do each, and when they are to be completed.

Planning and Decision Aids 2. For Allocating Resources: 2.2 Scheduling GANTT Charts: A scheduling chart developed by Henry Gantt that shows actual and planned output over a operiod of time.

Planning and Decision Aids 2. For Allocating Resources: 2.2 Scheduling PERT Network; A flow chart like diagram showing the sequence of activities needed to complete a project and the time or costs associated with each.

Planning and Decision Aids 2.For Allocating Resources: 2.3 Break even Analysis; A technique for identifying the point at which total revenue is just sufficient to cover total costs.

Planning and Decision Aids 2.For Allocating Resources: 2.4 Linear Programming; A mathematical technique that solves resource allocation problems.

Planning and Decision Aids 3. Contemporary Planning Techniques: 3.1 Project Management 3.2 Scenarios Analysis

Planning and Decision Aids 3. Contemporary Planning Techniques: 3.1 Project Management; A Project is a one time only set of activities that has a definite beginning and ending point in time.

Planning and Decision Aids 3. Contemporary Planning Techniques: 3.1 Project Management; The task of getting a project’s activities done on time, within budget, and according to specifications.

Planning and Decision Aids 3. Contemporary Planning Techniques: 3.2 Scenarios Analysis; A consistent view of what the future is likely to be.

Planning and Decision Aids 4. Other Methods: 4.1 Queuing 4.2 Simulation Models 4.3 Decision Trees