ASME EMBOK

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At CNM Wiki, the ASME EMBOK refers to the Guide to the Engineering Management Body of Knowledge that the American Society of Mechanical Engineers published in 2010.

  • Advertising. Mass media communications of a specific message (or set of messages) to potential buyers.
  • Balance Sheet. A statement of company resources at a given point in time in terms of assets, liabilities, and owner's equity.
  • Balanced Scorecard. A measurement and management system that seeks to link financial data and strategic planning activities.
  • Benchmarking. The process of improving performance by continuously identifying, understanding, and adapting the best practices and processes found inside and outside the organization.
  • Black Belt. Person who will lead a Six Sigma quality improvement team as his or her full-time job.
  • Boston Matrix. Model used to describe a product in relationship to its levels in market share and market growth.
  • Branding. Establishing a product "identity" that customers associate with various product qualities (quality, price, service, image, etc.) and which creates value in customers' minds.
  • Business Forecasting. A means of measuring economic conditions using statistical models to predict the potential market attractiveness and the organization's competitive position factors at a future time.
  • Cash Flow Analysis. Study of the cycle of cash inflow and outflow in a business.
  • Change Drivers. Events or variables that drive the evolution of industries.
  • Code of Ethics. Code outlining what is ethical behavior for persons in a profession -- usually developed by a professional membership organization.
  • Code. Related groups of standards usually created by experts in the particular field and then adopted by governmental bodies.
  • Compensation. Items earned by the employee for the job that they do such as salary, benefits package, bonuses and rewards.
  • Competitive Intelligence Audit. A review of an organization's operations to determine what is actually known about the competitors and their operations.
  • Conflict Mediation. The processes of assisting disputants in defining a conflict and searching for ways to reduce or eliminate it.
  • Copyright. The exclusive legal right to reproduce, publish, and sell original work created by a writer (e.g., computer software, literary works, artistic works, etc.).
  • Cost of Capital. Actual cost of the capital project plus the opportunity costs associated with the investment.
  • Cycle Time Analysis. Analysis that helps to strike a balance between factory loading and cycle time.
  • Data Flow Diagram. Linear representation of a system.
  • Decision Table. A chart listing all logical conditions and actions.
  • Decision Tree. Defines conditions as a series of left-to-right tests showing all possible paths in a design.
  • DMAIC. Quality strategy that is part of the Six Sigma quality initiative.
  • Earned Value Analysis. A way to assess a project's progress, forecast completion date and final cost, and provide schedule and budget variance along the way.
  • EEOC Regulations. The regulations set by the U.S. Equal Employment Opportunity Commission to ensure fair employment practices are extended to all employees and potential employees regardless of diversity factors.
  • Enterprise Resource Planning (ERP). Software applications designed to integrate company information and automate as many basic functions as possible.
  • Finite Element Analysis. A design decision making tool, used to ensure that products are cost effective, safe, and can be brought to market in a timely manner.
  • Flow Chart. A diagram of the various steps involved in designing a system.
  • Green Belt. Person who will lead a Six Sigma process improvement team as part of his or her full-time job.
  • Hygienes. Term coined by Frederick Herzberg to describe certain workplace factors that, alone, are unlikely to increase worker satisfaction or productivity. These include company policy, working conditions, peers, supervisors and pay.
  • Income Statement (P&Ls). An activity-oriented financial statement that covers a specific period of time and summarizes company revenues and expenses.
  • Internal Rate of Return. The return that a company would realize if it invested in itself or expanded, rather than investing elsewhere.
  • Just In Time (JIT). A supply chain management approach designed to reduce inventories and increase speed of materials purchasing.
  • Kaizan. Gradual, unending improvement and increasingly higher standards.
  • Kaizen. See Kaizan.
  • Kaizenshiro. See Kaizan.
  • Key Performance Indicators. Quantifiable measurements, agreed to beforehand, that reflect the critical success factors of an organization.
  • Lean Manufacturing. An initiative that focuses on elimination of all waste in manufacturing processes.
  • Linking Pin. A role of middle managers used to achieve coordination, inspire cooperation and manage conflict between upper management and direct reports.
  • Market Analysis Report. A formal document used to record the findings of a market analysis, formulate recommendations and share findings with key stakeholders.
  • Market Analysis. The collection of information used to identify and define market opportunities and problems, and to generate, refine and evaluate market options.
  • Market Segmentation. Dividing the market base into homogenous groups in order to strategically target market activities.
  • Marketing. Strategies and activities that focus on assessing the needs and wants of potential customers and then meeting those needs.
  • Motivating. To inspire employees to achieve greater productivity.
  • Negotiation. To confer with others in a way that brings about the equitable settlement of a matter.
  • Net Present Value (NPV). A calculation of the present value of cash inflows and the present value of cash outflows used to determine whether an investment or project is profitable.
  • Net Present Value. Analysis used by engineers during capital budgeting to determine whether or not a project should be undertaken.
  • Outsourcing. Engaging the services of third party service providers to add value to the company (streamline operations, reduce costs, reduce time to market, etc.).
  • Patent. The exclusive legal right to make, sell, or license novel and useful inventions.
  • Performance Feedback. The return of information to employees about the result of a process or activity.
  • Performance Management. The activity of tracking performance against targets and identifying opportunities for improvement.
  • Poke-a-Yoke. Mistake proofing or error proofing a process.
  • Presentation Techniques. Oral and written communications methods to assist in a focused expression of ideas, recommendations and findings used to inform and influence the thinking of others.
  • Product Life Cycle. The stages that products progress through from development to withdrawal from the market.
  • Product Portfolio. The range of products a company has in development or available for consumers at any one time.
  • Recruitment. The process of locating new team members whose knowledge, skills and abilities fit the needs of the team.
  • Regulation. Rule formulated and issued by a governmental agency -- typically has the force of law.
  • Return on Investment (ROI). A calculation which identifies profits to be realized or costs to be saved from implementing a project.
  • Risk Analysis. A formal framework to identify what actions to take to avoid disruption of marketing plans. Risk equals the probability of an event times the cost of the event.
  • Risk Register. A progressive document used over time that contains the outcomes of all risk management processes throughout the lifecycle of the marketing project.
  • Sales. Strategies and activities that focus on the attempt to motivate potential customers to purchase a product or service.
  • Selection. The process of establishing selection criteria, interviewing and hiring the most qualified job applicant.
  • Simulation. Evaluation tool formulated by creating hypothesis about what will happen in the future based on the input of different sets of variables.
  • Six Sigma. A tool to improve the processes of a business characterized by well-defined projects executed by a team that includes management champions, Black Belts, and Green Belts.
  • Standard. A description established by authority, custom, or general consent as a model of performance, quality, etc.; also, an established rule of measurement.
  • SWOT Analysis. An analysis that identifies the strengths, weaknesses, opportunities, and threats a project faces.
  • Team Dynamics. The motivating and driving forces that propel a team towards its goal or mission.
  • Technology Assessment. An assessment process used to determine the capabilities of any given technology including its specifications and performance, and applicability to a planned project.
  • Terms and Conditions. The various clauses that collectively make up a contract.
  • Total Quality Management. A management approach to long-term quality improvement by including the entire organization in the improvement process.
  • Trademark. The exclusive legal right to use and identifying mark (logo, symbol, product name) as long as it is kept in use.
  • Training and Development. The design and delivery of workplace learning to improve performance.
  • Trend Analysis. A process that uses historical data to examine what has happened in an organization's past to assist in predicting what might occur in the future.
  • Uniform Contract format (UCF). A template of standard contract elements to use when creating engineering contracts.
  • Weighted Average Cost of Capital. Described by the formula: (1 minus debt to capital ratio) * cost of equity + debt to capital ratio * cost of debt.
  • Work Breakdown Structure. Process that identifies all tasks required to complete a project, the order in which they must occur, the materials required, and the costs associated with each task.
  • Workforce Diversity. Using inclusion as a means of achieving superior performance by recognizing the unique contributions of each employee towards meeting the company's goals.