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Ch 16 - Chapter16.ProjectManagement XunLi...

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Chapter 16. Project Management Xun Li
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2 Learning Objectives 1) Project Life Cycle 2) PERT & CPM***
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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
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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
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LO2:  Planning Techniques-PERT & CPM Critical Path Method (CPM) Network planning technique used to determine a project’s planned completion  date and identify the project’s 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 project’s planned completion  date and identify the project’s 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
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LO2:  PERT & CPM PERT vs. CPM In order to identify a project’s 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 project’s duration Identify critical activities whose delay will delay the whole project Estimate the amount of slack associated with non-critical activities 6
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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 project’s completion time 2. Monitor the project’s progression 7
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LO2:  PERT & CPM 4 Steps for PERT/ CPM 2. Diagram the network 8
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