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An important design principle for work breakdown structures is called the 100% rule. [19] It has been defined as follows: The 100% rule states that the WBS includes 100% of the work defined by the project scope and captures all deliverables – internal, external, interim – in terms of the work to be completed, including project management.
This was the main focus of the essay by Cyril Northcote Parkinson, published in The Economist in 1955, [1] [5] and reprinted with other similar essays in the successful 1958 book Parkinson's Law: The Pursuit of Progress. [6] The book was translated into many languages. It was highly popular in the Soviet Union and its sphere of influence. [7]
ISO 13485 specifies Quality Management System requirements for organizations involved in the design and manufacture of medical devices to demonstrate the ability to meet relevant regulatory requirements. Such organizations can be involved in one or more stages of the life cycle, including design and development, production, storage and ...
The Pareto principle may apply to fundraising, i.e. 20% of the donors contributing towards 80% of the total. The Pareto principle (also known as the 80/20 rule, the law of the vital few and the principle of factor sparsity [1] [2]) states that for many outcomes, roughly 80% of consequences come from 20% of causes (the "vital few").
The MECE principle (mutually exclusive and collectively exhaustive) is a grouping principle for separating a set of items into subsets that are mutually exclusive (ME) and collectively exhaustive (CE). [1]
He proposed that market prices unfold in specific patterns, which practitioners today call Elliott waves, or simply waves. Elliott published his theory of market behavior in the book The Wave Principle in 1938, summarized it in a series of articles in Financial World magazine in 1939, and covered it most comprehensively in his final major work ...
In managing manufacturing or service operations, several types of decisions are made including operations strategy, product design, process design, quality management, capacity, facilities planning, production planning and inventory control. Each of these requires an ability to analyze the current situation and find better solutions to improve ...
The first is the application of lean methods to the company's accounting, control, and measurement processes. This is not different from applying lean methods to any other processes. The objective is to eliminate waste, free up capacity, speed up the process, eliminate errors & defects, and make the process clear and understandable.