Business Process
•Make-to-Stock (Walmart)- Used to attempt to match future purchaser decisions by making product and stocking ahead of time.
•Ship-to-Order (Tige Boats)- Product is already made and is shipped out upon order.
•Assemble-to-Order (Dell)- is a business production strategy where products ordered by customers are produced quickly and are customizable to a certain extent
•Make-to-Order (Burger King)- is a business production strategy that typically allows consumers to purchase products that are customized to their specifications
•Engineer-to-Order (Wellness Center)- Designed and produced after an order
The reason that it is important to know the difference is if you are managing a company that may be very large (such as PFG's in class example) you may be forced to use multiple types of business processes to complete your overall company mission. 
Important Definitions to Project Management
Critical Path Method- A methodology developed about the same time as PERT. Task times are considered to be constant, rather than the optimistic/ expected/pessimistic used in PERT.
Slack Time- Tasks on the critical path have zero slack time. Non- critical path tasks have slack (float) time and can be delayed by the amount of time without delaying the entire project
Resource- Required for a task to be performed
Statement of Work- A detailed textual description of tasks to be performed
Work Breakdown Schedule- A tree drawing or outline grouping of tasks for purposes of planning tasks within the scope of the project
Baseline- The project task durations, budgets, dependencies, and resource requirements as originally planned. Any deviations or delays from plan are tracked against the baseline
