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ProjectS - Project Management TOM 301 Operations Management...

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Unformatted text preview: Project Management TOM 301 Operations Management Xiaohui Xu What is a project? Unique, one-time operations designed to accomplish a specific set of objectives in a limited time frame*. A project is a temporary endeavor undertaken to create a unique product or service. Every project has a definite beginning and a definite end.† *Operations Management, Seventh Edition, by William J. Stevenson † Project Project Management Body of Knowledge, Forth Edition, Project Management Institute. See Blackboard / External What is a Project? Examples: Olympics, Homeremodeling, Training your dog, Deploying administrative/information systems, New Product Development,… Project Characteristics One Very low High Very High The Dimension of Project Management Quality Cost Scope Time Project Time Management: CPM and PERT CPM: Critical Path Method PERT: Program Evaluation and Review Technique Graphically displays project activities Estimates how long the project will take Indicates most critical activities Show where delays will not affect project Step 1: Work Out Precedence Relationships Activity Precursor(s) Duration A None 10 Days B None 9 C A,B 15 D A, C 3 Step 2: Draw Precedence / Network Diagram Parent A: 10 Child D:3 Step 2: Draw Precedence / Network Diagram Activity Precursor A None B None C A,B D Finish is attached to activities having no child A, C A: 10 D:3 Start Start is followed by activities having no parent Finish B: 9 C: 15 Step 3: “Forward” Calculating the Project Completion Time EF Early Finish ES Early Start 0 A: 10 10 25 D:3 28 Start Hint: Start with ES=0 and go forward in the network from A to Finish. Finish:28 Finish 0 B:9 9 Max {EF of all Parents} Max {9, 10) 10 25 C: 15 Project Completion Time Step 4: “Backward” Calculating the Critical Path LS Late Start 0 10 A: 10 0 10 LF Late Finish 25 25 D:3 28 28 Start Finish:28 Finish 0 1 B: 9 9 10 Min {LS of all Child(ren)} Min {25) 10 25 C: 15 10 25 Step 5: Identifying the critical path Calculate Slack for each activity: Slack = LF – EF=LS-ES Critical Path: If an activity’s slack = 0, it belongs to the critical path. The critical path is the sequence that takes the longest time to complete. Step 5: Critical Path Critical Activity Slack = LF-EF = LS-ES = 0 The tops and the bottoms match 0 0 25 10 A: 10 10 25 D:3 28 28 Start Finish:28 Finish 0 Slack Activity Slack = LF-EF = LS-ES 1 B: 9 9 10 10 25 C: 15 10 25 Critical Path Through Analysis We Know: The Completion Time Bottleneck: Critical Path Non-Bottleneck: Slack Time Questions so far? ...
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