FE Industrial & Systems key terms

A statistical principle stating that the distribution of sample averages approaches a normal distribution as sample size grows, regardless of the shape of the underlying population distribution.

A range of values, computed from sample data, that is expected to contain the true population parameter with a stated probability, such as 95 percent.

The probability of observing a test statistic as extreme as, or more extreme than, the one computed from the sample, assuming the null hypothesis is true.

A discrete probability model for the number of events occurring in a fixed time or space interval when those events happen independently at a constant average rate.

A method that fits a straight-line equation to paired data so one variable can be predicted from another, typically by minimizing the sum of squared errors.

The sum of all project cash flows discounted to today's dollars at a chosen interest rate; a positive value suggests the investment earns more than the required return.

The discount rate at which a project's net present value equals zero, representing the annual percentage yield the investment is expected to generate over its life.

The length of time required for cumulative cash inflows to equal the initial investment, used as a simple measure of how quickly capital is recovered without discounting future flows.

The constant annual amount, spread over a project's life, that has the same present value as the project's actual uneven cash flows and salvage value.

A formal set of principles adopted by a professional engineering society that defines expected conduct, such as holding public safety paramount and practicing only within one's competence.

A situation in which an engineer's personal, financial, or other interest could improperly influence professional judgment, requiring disclosure or withdrawal from the decision.

Reporting an employer's illegal, unsafe, or unethical practice to an outside authority or the public, usually after internal channels fail to correct the problem.

A production philosophy focused on identifying and eliminating waste in all its forms so that value flows to the customer with minimal delay, inventory, and effort.

A production approach in which materials and components arrive exactly when needed for use, minimizing inventory holding costs while requiring reliable suppliers and stable schedules.

The available production time divided by customer demand over the same period; it sets the pace a process must meet to satisfy demand without building excess inventory.

A composite metric multiplying equipment availability, performance efficiency, and quality rate to show how much of a machine's potential productive time becomes good output.

A time-phased plan stating which finished products, in what quantities, will be completed in each period, driving material and capacity planning beneath the aggregate plan.

A planning technique that explodes a bill of materials against the master schedule and inventory records to determine component net requirements, order quantities, and due dates.

The order size that minimizes the combined cost of placing orders and holding inventory, calculated from annual demand, setup cost, and per-unit holding cost.

Extra inventory held to absorb unexpected demand or supplier delays, protecting service levels when forecasts and replenishment lead times are uncertain.

A layout evaluation method that scores alternative arrangements by multiplying the flow between departments by the distance separating them, with lower totals indicating better layouts.

A structured procedure that begins with flow and relationship data between departments and works through a series of charts to develop and refine a facility arrangement.

Assigning tasks to workstations along a serial production line so station times are as equal as possible while meeting the required cycle time and precedence constraints.

The measurement of human body dimensions and reach, used to size workspaces, tools, and equipment so most of the user population can use them comfortably.

A formula that computes a recommended weight limit for a manual lifting task from factors such as horizontal distance, vertical height, twisting, hand coupling, and lifting frequency.

The mental effort required to perform a task, influenced by information volume, time pressure, and complexity; excessive workload raises error rates and fatigue.

A time-ordered plot of a process statistic with statistically derived upper and lower limits, used to separate normal random variation from assignable causes.

A ratio comparing the width of a specification range to the natural variation of a stable process, indicating how well that process can meet tolerances.

A quality inspection procedure that draws a random sample from a lot and accepts or rejects the entire lot based on the number of defects found.

A prioritization technique based on the observation that a small number of causes usually produce most of the effect, directing improvement effort to the largest contributors.

An optimization method that maximizes or minimizes a linear objective function subject to linear constraints, used for resource allocation, blending, and product mix decisions.

The rate at which the optimal objective value changes when one constraint's right-hand side is relaxed by one unit; it reveals the marginal value of scarce capacity.

A network scheduling technique that identifies the longest sequence of dependent activities in a project, which determines the shortest possible project duration.

A probabilistic network scheduling method that uses three time estimates per activity, optimistic, most likely, and pessimistic, to compute expected durations and completion probabilities.

A branch of probability modeling that predicts waiting times, queue lengths, and server utilization for systems where customers arrive randomly and require service.

The practice of linking each requirement to its source and to the design elements, tests, and evidence that satisfy it, so coverage and impacts can be demonstrated.

Breaking a system's overall purpose into progressively smaller subfunctions until each can be allocated to a specific component or subsystem for design.

A structured comparison of design alternatives against weighted criteria such as cost, performance, risk, and schedule, used to justify selecting one option.

A hierarchical, deliverable-oriented breakdown of project scope into manageable work packages, forming the basis for estimating, scheduling, and assigning responsibility.

A project control technique comparing the budgeted value of work planned, the value of work actually performed, and actual cost to forecast cost and schedule performance.