Notes for Final - Project a unique one time effort requires...

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Project – a unique, one time effort; requires the completion of a large number of interrelated activities; resources such as time and/or money, are limited Objectives of PM: - insure performance - control costs - manage timely completion PM has a cost: direct time and the opportunity cost of what is not being adequately planned Failure to plan has cost: wasted time, missed milestones, rework, etc. #1 reason for failure: Scope Creep – if you don’t know where you’re going, you’ll prob de disappointed when you get there Planning Phase – i.d. tasks Scheduling Phase – detail descript. and schedule plan and test capacity; milestone charts Controlling Horizontal bar charts are called Gantt charts Advantages: - easy to understand - easy to modify and update - low cost Disad: - cumbersome for large project - must keep up to date - doesn’t easily show the relationships among the activities Backward schedule is also called a work tree – slack is more obvious Critical Path Analysis: - ES: earliest an activity can start, all must be done before and the last one is the earliest for the next start time -
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