Ch 16 - Chapter 16. Project Management Xun Li 2 Learning...

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Unformatted text preview: Chapter 16. Project Management Xun Li 2 Learning Objectives 1) Project Life Cycle 2) PERT & CPM*** LO1: Project Life Cycle Definition Endeavor with specific objectives, multiple activities, and defined precedence relationships, to be completed in a specified time period. A major event like a wedding Any construction project Designing a political campaign 3 LO1: Project Life Cycle Project Life Cycle Conception Identify the need for the project Feasibility analysis or study Evaluate costs, benefits, and risks Planning Who, how long, what to do? Execution Doing the project Termination 4 LO2: Planning Techniques-PERT & CPM Critical Path Method (CPM) Network planning technique used to determine a projects planned completion date and identify the projects critical path. Developed to coordinate maintenance projects in the chemical industry A complex undertaking, but individual tasks are routine ( certain task duration ) Program Evaluation & Review Technique (PERT) Network planning technique used to determine a projects planned completion date and identify the projects critical path. Developed in 1950s to manage the Polaris missile project, which is credited with reducing the project duration by two years. Now, most government contracts still require PERT Many tasks pushed the boundaries of science & engineering ( uncertain task duration ) 5 LO2: PERT & CPM PERT vs. CPM In order to identify a projects critical path, the activity durations are assumed to be know with certainty in a CPM chart (deterministic time estimation ). In contrast, the activity durations are probabilistic estimation in a PERT chart . Both techniques benefit decision-making by: Graphically display the precedence relationships & sequence of activities Estimate the projects duration Identify critical activities whose delay will delay the whole project Estimate the amount of slack associated with non-critical activities 6 LO2: PERT & CPM 4 Steps for PERT/ CPM 1. Describe the project 2. Diagram the network Project Activities (Nodes) Specific tasks that must be completed and that require resources Precedence Relationships (Arrows) Establish the sequencing of activities to ensure that all necessary activities are completed before a subsequent activity is begun 1. Estimate the projects completion time 2. Monitor the projects progression 7 LO2: PERT & CPM 4 Steps for PERT/ CPM 2. Diagram the network 8 LO2: PERT & CPM...
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This note was uploaded on 10/17/2011 for the course MNGT 368 taught by Professor Curthurds during the Spring '08 term at Nicholls State.

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Ch 16 - Chapter 16. Project Management Xun Li 2 Learning...

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