Project Management
The phases of project management
Planning, programming and control
In complex projects, is it better to use Gantt or CPM and PERT?
CPM and PERT
The task
The installation of a super fancy, computerized air pollution control machine for the plant.
What does IC (ES) and TC (EF) stand for?
Earliest start and earliest finish.
The process by which the duration of the project is shortened in the simplest way possible
Acceleration of the project.
Name four traditional members/divisions of a project
President, Human Resources, Marketing, Finance, Design, Quality Control and Production
The first two steps in PERT and CPM
1) Define the project and prepare the structure of the division of labor. 2) Develop relationships between activities; Decide which should come first and which should follow others.
Original deadline
16 weeks in order for the machine to be ready for Earth Day.
If an activity has only an immediate precedent, then:
its CI is equal to the TC of its predecessor.
The cost of speeding up (or shortening) an activity depends on:
The nature of the activity
The can find pressure from the shareholders of the company, fake news about the project, pressures to sacrifice the quality of the product in order to reduce costs and many more.
The managers.
Difference between AEN and AEF
in an AEN diagram, the nodes represent the activities themselves; but in an AEF network, nodes represent the start and end times of an activity, and are also called events. In an AEN network the nodes do not consume time or resources.
Deadline by which there's a 99% chance of completing the project.
19.1 weeks or more.
Slack is:
The amount of time an activity can be delayed without delaying the entire project
Stages 1 and 2 of accelerating a project
1) Calculate the acceleration cost per week. 2) Find the critical paths in the project network.
A low-cost way in which the managers can assure that all activities are planned, the order is highlighted, time estimations are included and the global time of the project is developed.
The Gantt Graphic.
Two techniques have the ability to consider precedence relationships and the interdependence of activities.
PERT and CPM
Probability that the project will be completed before or at the 16 week deadline.
71.57%
The three time estimates:
Optimistic time (a), Pessimistic time (b) and most probable time (m).
If a 48-hour heat treatment in the furnace is needed, we can accelerate it by:
YOU CAN'T! Some activities cannot be shortened at all.
Phases of the project: In this phase, people, money, supplies are related with specific activities.
Programming.
What does PERT stand for?
Project evaluation and review technique.
The variance in the project completion time is equal to:
The sum of all the individual project activities' variances.
The expected time of activity formula:
t = (a + 4m + b)/6
Ramp-up time is:
The shortest duration needed to complete the activity.