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Chapter 14. Project Management. Introduction to Project Management. Projects can be simple (planning a company picnic) or complex (planning a space shuttle launch). Successfully completing a project requires: Knowledge of the tasks involved Accurate estimates of time and resources required

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Project management l.jpg

Chapter 14

Project Management


Introduction to project management l.jpg
Introduction to Project Management

  • Projects can be simple (planning a company picnic) or complex (planning a space shuttle launch).

  • Successfully completing a project requires:

    • Knowledge of the tasks involved

    • Accurate estimates of time and resources required

    • Knowledge of physical and logical relations between the various tasks

  • Project management techniques

    • Critical Path Method (CPM)

    • Program Evaluation and Review Technique (PERT)

  • Spreadsheets can be used to manage projects, but dedicated project management software is often more effective.


An example lightner construction l.jpg
An Example: Lightner Construction

  • Tom Lightner owns Lightner Construction, a general contracting company specializing in the construction of single-family residences and small office buildings.

  • Tom frequently has numerous construction projects going on at the same time and needs a formal procedure for planning, monitoring, and controlling each project.

  • He is aware of various project scheduling techniques but has never used them.

  • He wants to see how he might apply such techniques to one of the home-building projects he will be undertaking in the near future.

  • The following slide summarizes each of the major activities required for this project.


Summary of activities l.jpg

Time Immediate

Required Predecessor

Activity Description (in days) Activities

A Excavate 3 --

B Lay foundation 4 A

C Rough plumbing 3 B

D Frame 10 B

E Finish exterior 8 D

F Install HVAC 4 D

G Rough electric 6 D

H Sheet rock 8 C, E, F, G

I Install cabinets 5 H

J Paint 5 H

K Final plumbing 4 I

L Final electric 2 J

M Install flooring 4 K, L

Summary of Activities


An activity on node aon network l.jpg

Install Cabinets

Final Plumbing

Rough Plumbing

K

I

C

Sheet Rock

Excavate

Lay Foundation

M

H

B

A

Finish Exterior

E

Install

Flooring

L

J

D

Frame

HVAC

Final Electric

Paint

F

Rough Electric

G

An Activity-On-Node (AON) Network


A comment of project networks l.jpg
A Comment of Project Networks

  • Projects can also be depicted using Activity-On-Arc (AOA) networks.

  • This book uses AON networks (which the author views as superior to AOA).

  • Some software packages use AOA networks, so you should at least be aware that they exist.


An activity on arc aoa network l.jpg

Final Plumbing

Install Cabinets

10

K

Lay Foundation

Rough Plumbing

I

B

C

12

13

8

9

2

1

3

M

H

A

Install Flooring

Sheet Rock

Excavate

D

J

L

11

Frame

Paint

Final Electric

Finish Exterior

5

E

4

F

HVAC

G

6

Rough Electric

7

An Activity-on-Arc (AOA) Network


Start and finish points l.jpg

A

D

C

B

E

D

A

C

start

finish

E

B

Start and Finish Points

  • AON networks should have unique start and finish points.


Cpm an overview l.jpg
CPM: An Overview

  • A Forward Pass through the network determines the earliest times each activity can start and finish.

  • A Backward Pass through the network determines the latest times each activity can start and finish without delaying completion of the project.

  • The longest path through the network is the “critical path”.


Information recorded for each node l.jpg
Information Recorded for Each Node

ESTi

EFTi

i

ti

LFTi

LSTi

ti = time required to perform activity i

ESTi = earliest possible start time for activity i

EFTi = earliest possible finish time for activity i

LSTi = latest possible start time for activity i

LFTi = latest possible finish time for activity i


The forward pass l.jpg
The Forward Pass

  • The earliest start time (EST) for the initial activity in a project is “time zero”.

  • The EST of an activity is equal to the latest (or maximum) early finish time of the activities directly preceding it.

  • The EFT of an activity is equal to its EST plus the time required to perform the activity.


Results of the forward pass l.jpg

38

42

33

38

7

10

4

I

5

K

3

C

42

46

25

33

3

7

0

3

4

8

M

4

H

3

B

A

17

25

8

E

33

38

38

40

5

2

J

L

7

17

10

D

17

21

4

F

17

23

6

G

Results of the Forward Pass

Note:

ESTH=MAX(EFTC,EFTE,EFTF,EFTG)=25


The backward pass l.jpg
The Backward Pass

  • The latest finish time (LFT) for the final activity in a project is equal to its EFT as determined by the forward pass.

  • The LFT for any other activity is equal to the earliest (or minimum) LST of the activities directly following (or succeeding) it.

  • The LST of an activity is equal to its LFT minus the time required to perform the activity.


Results of the backward pass l.jpg

38

42

33

38

7

10

4

5

K

I

3

C

42

46

0

3

3

7

H

4

3

4

M

A

B

17

25

8

E

33

38

38

40

5

2

J

L

D

17

21

4

F

17

23

6

G

Results of the Backward Pass

38

42

38

33

22

25

25

33

8

25

33

42

46

0

3

7

3

17

25

7

17

10

35

40

40

42

7

17

Note:

LFTH=MIN(LSTI,LSTJ)=33

LFTD=MIN(LSTE,LSTF ,LSTG)=17

LFTB=MIN(LSTC,LSTD)=7

21

25

19

25


The critical path l.jpg

33

38

38

42

7

10

5

4

I

K

3

C

3

7

0

3

H

4

3

B

A

17

25

8

E

33

38

38

40

5

2

J

L

D

17

21

4

F

17

23

6

G

The Critical Path

38

42

38

33

22

25

Slack=15

Slack=0

Slack=0

25

33

42

46

8

M

4

25

33

42

46

0

3

7

3

Slack=0

Slack=0

Slack=0

Slack=0

17

25

7

17

Slack=0

10

35

40

40

42

7

17

Slack=2

Slack=2

Slack=0

21

25

Slack=4

Note:

Slack = LSTi-ESTi or LFTi-EFTi

19

25

Slack=2


Project management using spreadsheets l.jpg
Project Management Using Spreadsheets

  • The early and late start and finish times for project activities can be done in a spreadsheet using array formulas and circular references.

  • See file Fig14-11.xls


Array formulas l.jpg
Array Formulas

  • An array formula can perform multiple calculations using a range of cells and then return either a single result or multiple results.

  • You create array formulas in the same way that you create other formulas, except that you press [Ctrl]+[Shift]+[Enter] to enter the formula.


Array formula examples l.jpg
Array Formula Examples

  • Let’s compare several standard Excel functions with their equivalent array formulas…

    Excel Function

    =SUMPRODUCT(E5:E17,F5:F17)

    Array Formula

    =SUM(E5:E17*F5:F17)

    Excel Function

    =SUMXMY2(E5:E17,F5:F17)

    Array Formula

    =SUM((E5:E17-F5:F17)^2)


A gantt chart for the example problem l.jpg

Activity

Gantt Chart

M

L

K

J

I

H

G

F

E

D

Activity Time

C

Slack

B

A

0

5

10

15

20

25

30

35

40

45

50

Time Period

A Gantt Chart for the Example Problem


Pert an overview l.jpg

PERT: An Overview

  • CPM assumes all activity times are known with certainty or can be estimated accurately.

  • PERT accounts for uncertainty in activity times by using three time estimates:

    ai= duration of activity i assuming the most favorable conditions

    bi = duration of activity i assuming the least favorable conditions

    mi = estimate of the most likely duration of activity i


Pert overview continued l.jpg
PERT Overview Continued

  • The expected (or mean) time required to complete any path in the network is the sum of the expected times (the ti) of the activities on the path.

  • Assuming the individual activity times in a project are independent of one another, we may also calculate the variance of the completion time for any path as the sum of the variances (the vi) of the activities on the path.

  • PERT considers the path with the largest expected completion time to be the critical path.

  • PERT’s reasoning may be flawed...


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