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Shashikant Adlakha

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  1. Critical path and Critical chain method: Both Critical Path and Critical chain methods are types of schedule network diagramming techniques used in developing the project schedule. Critical path is the longest path of schedule network and the duration of critical path is the project duration. Floats are calculated, based on difference between critical and non critical pathway. Free float can be defined as the amount of time an activity can be delayed, without any delay in the successor activity. Total float can be defined as amount of delay in the activity that can be done, wi
  2. TRIZ is - theory of Inventive problem solving, postulated by a Soviet engineer Altshuller in 1946. After studying a large number of patents, Altshuller and his colleagues postulated that the inventive principles were present in most of the successful cases. After analysis, they found that when we try to resolve one issue, another issue gets complicated. So an innovative solution is required to overcome and minimize trade-off between contradictory elements. e.g- We want to have hot beverages like tea and coffee, but at the same time we don’t want to burn our oral cavity. - We
  3. Analysis paralysis: Analysis paralysis means inability to make a decision on a particular issue in one’s personal life or in a corporate world, especially pertaining to some complex issues, associated with uncertainty or risks. This is attributed to overthinking or overanalyzing data pertaining to the issue. The possible causes may be: - Overwhelming incoming data or with large number of options or possible solutions associated with the issues. - Inexperience to handle the data/information - Extensive experience in data analysis an
  4. Standard operating procedures govern all the routine and complex activities in an organization. While utmost care is usually taken in writing SOPS according to quality standards like ISO 9000, keeping in sync with the organization’s internal policies and detailed instruction of each activity being narrated, many of the SOPS(Manual or online) do not have requirements such as associated documents or computerised system to record the proof that all the tasks are actually performed according to the instructions in SOPS. This requirement is sometimes deliberately not included, as these may be
  5. Filter bubble phenomenon coined by Eli Pariser, has surged from media personalization, which leads to trapping of users to view particular offerings or a view point without the view of contrasting things. This phenomenon entails use of artificial intelligence and based on features like- past browsing history of user, online searches, demographic data, credit card purchase history etc, it is easy to predict the nature and viewpoint of the user, be it regarding political, social, cultural or commercial products. Filter bubble was allegedly used by third parties like Cambridge Analytica to
  6. Reporting bias means - selective reporting of data/ information or selective ignoring or under reporting of genuine information. Types of Reporting biases and their prevention Publication bias: Causes: Influenced by research findings : Published studies are only included : Positive results more likely published Prevention:- Both published and unpublished studies need to be included - Research should not be directed to a particular outcome- Peer authors involved in similar studies should be contacted. Time lag bias Causes:
  7. The Monte Carlo- model is a popular tool and commonly used in risk analysis in a number of scenarios. This model is properly executed by Simulation software- The software runs a large number of what-if scenarios, using random number generator (RNG) to choose a random value for each input value and summarizes the results using relevant statistics and charts. Defining assumptions of input variables with type of distribution, define forecast and correlation if any between variables are required to be filled. All combinations of input parameters are incorporated into the results, using relative
  8. An elevator pitch describes the overview of a business in a very short time, the time it takes to complete an elevator ride, from 30 secs-up to 2 minutes and up to 80-90 word pitch. An elevator pitch may not include all the intrinsic components, but gives a vivid description of an idea, company, product, person. It is a very simple, yet quite effective marketing tool, especially for small businesses. Knowing the audience or market niche is an important pre-requisite for elevator pitch The important aspects of elevator pitch are: § Brief Introduction § Missio
  9. Ansoff Matrix is a popular strategic framework tool for business growth. It was described by Igor Ansoff , a business manager in 1957. The different growth strategies of this model are: o Market Penetration o Market development o Product development o Diversification Market penetration: This refers to increasing market share within existing segment, by increasing the sale of products or services to the customers. The probable ways are: o Price decrease(economies of scale) o Increased promotion and distribution o Acquisition of
  10. SERVQUAL model is a widely used multidimensional questionnaire, for inspecting and measuring the service quality of businesses by recording and comparing the expectations and perception of customers/respondants. The questionnaire typically consists of 22 questions of 5 dimensions. Additional questions may be added in the relevant dimensions, e.g- demographics of respondent, brand loyalty with prior use, behavioral patterns such as likelihood of customer for further referral to others. Face to face interview is required and large number of potential customers are to be surveyed f
  11. A PICK chart is an efficient Lean Six Sigma tool, which was originally proposed by Lockheed Martin, for selecting among different process improvement ideas and methods during define phase of lean six sigma project. A pick chart depicts visual comparison of different actionable tools, with reference to their ease of implementation and their effectiveness or likely improvement gain. In the Visual chart, all the methods can be grouped in 4 categories on a 2*2 matrix; one axis connotes a graded scale of payoff/ benefits/improvement , another axis denotes ease of implementati
  12. - Herd immunity in medical world means overall protection of community, when a substantial proportion of people are immunized or vaccinated against a particular pathogen. Herd immunity acts an important line of defense against the spread of infectious diseases. It protects unprotected individual from infections. - System patches in IT, act equivalent to that of vaccines in medical field. As we can not vaccinate each and every individual due to poor compliance, poor socioeconomic status etc, similarly we can not secure all the systems due to economical constraints, technical
  13. Scrumban is an evolved agile methodology, in which work is organized in small iterations and monitored with help of a visual board, with combination of tools of scrum and Kanban boards. The main charactersitics of scrumban in comparision to Scrum are: -The iterations(sprints) of scrum are not pre-fixed, but as needed , a kind of replaced by continuous flow system as in Kanban. -The teams involved may be specialized rather than cross functional teams of Scrum. Specialized team obviates the need of a Scrum master, who controls Scrum. - Task limits- Limited by work in progress(WIP)
  14. Corona virus infection pandemic is right now creating havoc in all parts of the world, with infection that originated from China has travelled to 199 countries with a significant surge in the number of case in European countries like Italy, Spain, Germany, France and in a time frame of March 20 th- March 30 th 2020, there has been a marked increase in the number of cases in the United States, with number of cases in USA, going beyond 150,000. The growth pattern is presumed to be exponential type, with number of infected individuals increasing in proportion to the total number of
  15. Corona Virus infection has severely impacted human life with a heavy bearing on socioeconomic life and bringing the world to the brink of a deep recession. At this critical time, government and most of the business organizations have already taken proactive and reactive measures, so that their critical operations continue unabated, while simultaneously protecting the health and safety of their employees and customers. In terms of employee’s perspective, there are various changes and challenges ahead and adaptive responses that are needed- - There is wide speculation worldwide regard
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