Project Management

Project Management - Project Management Project and project...

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1 Project Management Project and project management Critical path method (CPM) Time/Cost tradeoff CPM with uncertain activities
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2 Michael, a graduate of HKUST Business School, has just started a wedding planning business in Hong Kong. He has a meeting with his first client this evening. 1. What information does he need to get from the client? 2. What are the main issues that he may need to deal with in planning the wedding?
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3 Proc select (4) Process Analysis Project (2) Transformation Process Process view Ops strategy (1) Project structure Single vs. three estimates Network diagram CPM: ES, EF, LS, LF, slack Shorten the project time Probabilistic activity times
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4 Project and Project Management Project A special type of process / transformation A series of related jobs directed toward some major output Require time and resources Examples MS Windows 2000, Fund raising, Preparation for a private party…
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5 Project management Planning, directing, and controlling resources (people, equipment, material) to meet the technical, cost, and time constraints of the project. Different aspects of PM Team work Leadership We focus on technical aspect
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6 Project Manager Responsible for: Work Quality Human Resources Time Communications Costs
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7 Statement of work (SOW) Objectives, work to be done, a proposed schedule, performance measures (cost, time, quality) Work breakdown structure Break project down into manageable pieces
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8 Work Breakdown Structure Project Level 1 Level 2 Level 3 Level 4
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9 Questions I How long does it take to complete a project? When should each activity start? How much flexibility we have? Which activities might delay the project? In other words, which activities should the project manager pay particular attention to? Answer : Critical path method (CPM)
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10 Critical Path Method Example: Investment assignment Select a company ( A ) – 1 day Obtain the company’s annual report and perform a ratio analysis ( B ) – 2 days Collect technical stock price data and construct charts ( C ) – 1 day Individually review the data and make a team decision on whether to buy the stock ( D ) – 1 day
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11 Critical Path Method: 4 Basic Steps Step 1: Construct the Network Diagram.
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This note was uploaded on 05/21/2011 for the course ISOM 111 taught by Professor Hu,inchi during the Spring '10 term at HKUST.

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Project Management - Project Management Project and project...

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