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As Long as Everyone in a Project Adds a Little

question 31

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As long as everyone in a project adds a little padding to reduce risk, the project duration and cost estimates will be more accurate.


Definitions:

TPM

Total Productive Maintenance; a proactive maintenance approach focusing on improving equipment effectiveness and employee involvement.

TQM

Total Quality Management; a comprehensive and structured approach to organizational management that seeks to improve the quality of products and services through ongoing refinements in response to continuous feedback.

Maintenance

Activities undertaken to keep equipment or systems functioning efficiently through preventive measures or repairs.

Reliability Tactic

Strategies or practices aimed at ensuring a system or component performs its required function under stated conditions for a specified period.

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