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Unformatted text preview: 1. Decision rule c. Procedure i. Always crash one period at a time ii. Identify options- critical activities 1. Only crash critical activities because they are what defines the length of a project- non critical activities have slack iii. Select least expensive iv. Savings? Implement if so. Update paths → cost to crash vs. admin and penalty cost v. Repeat 1-3 until no cost savings are possible d. Stopping Criterions i. When crashing costs is more than savings cost ii. When you can’t crash anything more e. CPM with 3 time estimates i. In past time estimate is firm ii. Now, uncertain as to task duration 1. New a. New project never been done (ex: onestart) 2. Natural Variance a. Ex: weather iii. Use 3 time estimates to deal with uncertainty 1. Keep in mind that sometimes the numbers are guesses a. a = most optimistic estimate, m= most likely, b= pessimistic...
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This note was uploaded on 04/18/2011 for the course BUS 370 taught by Professor Camp during the Fall '09 term at Indiana.
- Fall '09
- Project Management