The document discusses planning and forecasting concepts for engineering and technology management. It defines planning as identifying objectives and designing activities to achieve goals. Planning involves determining what needs to be done, who will do it, how, when, how much it will cost, and what resources are needed. Forecasting allows for new facility planning, production planning, and workforce scheduling. Common forecasting methods include quantitative methods like regression analysis and qualitative methods like expert opinion and the Delphi method.

2. Advanced Organizer

11. Strategic Planning Business a company is in Business a company wants to be in Business Portfolio Matrix Cash cows (milk profits) Stars (invest more) Large Small Dogs (eliminate) Slow-growth ??? (increase market) Fast-growth Market share MARKET

24. Technological Forecasting Normative forecasting : desired future goal is set and process is worked back Exploratory forecasting : begins with current state of technology and extrapolates into the future. Ex.: Delphi method Good model for forecasting : S-curve method. Performance from new technology starts slowly, grows exponentially and eventually levels out