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These projects are called repetitive or linear projects. The main advantages of LSM over critical path method (CPM) is its underlying idea of keeping resources continuously at work. In other words, it schedules activities in such a way that: resource utilization is maximized;
The VDM formula is derived from the net present value formula and can be used to calculate the value of maintenance. The VDM formula is: PV maintenance = Σ {F SHE,t x (CF AU,t + CF CC,t + CF RA,t + CF SHE,t) / (1+r) t} where: PV maintenance = present value potential of maintenance F SHE,t = SHE factor in year t
Morisita's overlap index, named after Masaaki Morisita, is a statistical measure of dispersion of individuals in a population. It is used to compare overlap among samples (Morisita 1959).
Overall equipment effectiveness [1] (OEE) is a measure of how well a manufacturing operation is utilized (facilities, time and material) compared to its full potential, during the periods when it is scheduled to run.
Capacity planning is the process of determining the production capacity needed by an organization to meet changing demands for its products. [1] In the context of capacity planning, design capacity is the maximum amount of work that an organization or individual is capable of completing in a given period.
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Capacity utilization or capacity utilisation is the extent to which a firm or nation employs its installed productive capacity (maximum output of a firm or nation). It is the relationship between output that is produced with the installed equipment, and the potential output which could be produced with it, if capacity was fully used. [ 1 ]
Resource intensity is a measure of the resources (e.g. water, energy, materials) needed for the production, processing and disposal of a unit of good or service, or for the completion of a process or activity; it is therefore a measure of the efficiency of resource use.
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