BUS 528 Week 8 Assignment A-3

Assignment A-3
Chapter 9 ideas- Balancing the Project.

Balancing a project means comparison of efficiency vs productivity.

(Input) Efficiency vs Productivity (Output)

Amount of effort vs How much / how often

Learning how to manage both efficiency and productivity, and the difference between them, will help to define the success of your project.

Efficiency
Projects rely upon efficiency models to calculate areas in which costs can be reduce and improve production/ resources/ skills. Efficiency is only a guide, however, and needs to be considered alongside another system of calculating processes.

Productivity
Productivity also calculates how resources are controlled and converted into useful end product or results, but in this model allow concentration of the details of the quality. It will provide an analysis of the relationships between input and output. Productivity will calculate how resources are used in direct relation to the purpose of the company.
In summary, balancing between efficiency and productivity allow us to re-evaluate the project for effective deliverable. You will be able to balance the cost, schedule and quality of the product or end result.

Balancing also requires thought, strategy, innovation and honesty.