M and A requires you to identify needs:
1. Management needs
2. Technical needs
3. Project needs
4. Process improvement needs
5. Product needs
To start an M and A program, identify what your management requires as measures from the following categories:
a. Schedule & progress
b. Resources & cost
c. Product size & stability
d. Product quality
e. Process Performance
f. Technology Effectiveness
g. Customer Satisfaction
1. Once you have established these measures, you might need to be more granular, may lead to further decomposition of the measure
2. You will have to review the measurements as some of it might not be as useful you might have thought earlier
Monday, March 01, 2010
Example: How many text messages on an average a 19-year-old sends in a day.
- Natural variation: Not all students will send the same number of text messages in a day. Taking one sample will not give all the information we need.
- Explainable variation: Are there any other reasons why asking one student will not give the average for all 19 years? There are different types of students. Girls seem to send more texts and maybe rich students send more tickets. This is explainable variation.
- Sampling error: I take a sample of 5 students. You take a sample of 5 students. Do you think the same mean/average will be the same? We will likely not, because we will choose different people. There are infinite different samples we can take from a population. Sampling error exists because a sample is not a true representative of the entire population. Sample size matters; the larger the sample size greater is the confidence.
- Biased sampling: Bias happens when you pick up your samples based on prejudices like not including poor students in the above example.