Variability In Times.docx - Variability In Times...

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Variability In TimesIntroductionIt is not realistic to assume that all project times are fixed. Delays in activities may result from various factors, such as the late arrival of raw materials. Another example is projects involving construction, which are dependent on the weather. Thus, it is important to not ignore variability in the activity times.Learning MaterialsDelay of an ActivityActivity times may vary depending on various factors, such as delivery of resources and weather conditions. A delay of an activity on the critical path will impact the completion of the entire project. Therefore, activity times are subject to variability.Impact of VariabilityAll activities are not prone to the same types of delays. Some activities may be unlikely to be delayed, while others may be extremely susceptible to delays. The impact of the variability in activity times should be considered when deciding the schedule for a project.Assessing Impact of VariabilityThere are three general approaches to assessing the impact:BufferProgram evaluation and review technique (PERT) analysisComputer simulationBufferOne approach is to accommodate for the variability with “buffers” in the activity times. For example, if past experience indicates the activity has exceeded the activity time by 25%, a 25% buffer can be added to the activity time. Project managers may object to the buffer suggesting that it is not practical. People on the project may advancemore slowly on the activity with the comfort of the buffer.PERT AnalysisAnother approach uses program evaluation and review technique (PERT) analysis as a probability-based analysis of

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