Enterprise Operations

Project

Temporary endeavor with a unique outcome (e.g., building a tower)

Operations

Ongoing, repetitive activities (e.g., manufacturing towers daily)

Project Management

Structured coordination of people, time, resources, and scope to achieve a goal

Enterprise Operations

Activities and processes involved in running a large-scale organization

Concept Development

Lifecycle phase for initial idea generation and feasibility analysis

Concept Design

Lifecycle phase for creating detailed designs, specifications, and prototypes

Process Design

Lifecycle phase for planning the manufacturing process, workflows, and quality standards

Production Deployment

Lifecycle phase for launching the product into full-scale production

Product Maintenance

Lifecycle phase for keeping the product in an existing and satisfactory condition

Product Disposal

Lifecycle phase for making a product obsolete or removing it

Project Initiation

PM phase defining purpose, scope, and identifying stakeholders

Project Planning

PM phase involving timelines, resources, and risk management

Project Execution

PM phase where the product is built according to the plan

Monitoring and Controlling

PM phase for tracking progress, managing changes, and ensuring quality control

Project Closure

PM phase for formally ending the project, reviewing outcomes, and documenting lessons learned

Enterprise Resource Planning (ERP)

Software system supporting automation in finance, HR, manufacturing, and supply chain

Internet of Things (IoT)

Network of connected objects with sensors used to transmit data for automation or information

Queueing Models

Studies on waiting lines including arrival processes and customer numbers

Queueing Model Metrics

Average Wait Time, Queue Length, Service Rate, Utilization Rate, Throughput, Idle Time

Direct Costs

Expenses comprising Material and Labor

Indirect Costs

Expenses comprising Manufacturing Overhead, R&D, and SG&A

Engineering Economic Analysis

Assessment determined by Marketing, Development, Industrial Engineering, Finance, and Legal teams

Operations Efficiency

Optimization of processes and systems to save time and resources

Operations Safety

Adherence to standards to prevent accidents and legal issues

Continuous Improvement

Seeking ways to enhance efficiency to keep the company competitive