Classes 8 and 9 - Project Management - Chapter 5

Classes 8 and 9 - Project Management - Chapter 5 - BUS 370...

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BUS 370: Chapter 5 Project Management Mr. Donavon Favre College of Management North Carolina State University
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Chapter Objectives Be able to: Explain the difference between routine business activities and projects. Describe the five major phases of a project. Construct a project network diagram and calculate the earliest and latest start and finish times for all activities. Identify the critical activities and paths in a network. Crash a project.
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Project Management: Why Do It? Building Mega Refineries in Record Time (India, 2006): Demand for gasoline is increasing in USA No new refineries in USA Need to process heavy crude Current capacity is not enough
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Reliance Industries, Ltd: Mobilized initial workforce of 20,000, will grow to 150,000 to complete project by December 2008 Built residential complex for 2500 families to attract skilled workers needed and an irrigated 2000-acre farm nearby Expansion will add capacity of 582,000 barrels a day Each welder will have six helpers to keep him supplied with necessary materials
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What is a project? A temporary endeavor undertaken to create a unique product, service or result (ex., Olympics) Clear starting and ending points People and resources reassigned when project is completed
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Project Management Challenge “Triple Constraint” The Project Manager must meet (and exceed) customer expectations while managing scope, time and cost Scope Time Cost Customer Value
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Project phases Concept Broad definition, scope and feasibility analysis Budget estimates + / - 30% Project definition Tentative schedules, budgets, organization Budget estimates +/- 5 to 10%
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Project phases (cont’d)
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Classes 8 and 9 - Project Management - Chapter 5 - BUS 370...

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