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Project Management

Project Management. Management of work to develop and implement an innovation or change in an existing organization Examples: New buildings Weapon systems Automotive, Ship, Aircraft Planning a concert New Products . Project Management. Elements Project Team Project Planning

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Project Management

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  1. Project Management • Management of work to develop and implement an innovation or change in an existing organization • Examples: • New buildings • Weapon systems • Automotive, Ship, Aircraft • Planning a concert • New Products

  2. Project Management • Elements • Project Team • Project Planning • Project Control

  3. Project Team

  4. Project Planning • Precedence Relationship • Sequential relationship of activities in a project • Project planning • Define project objective(s) • Identify activities • Establish precedence relationships • Make time estimates • Determine project completion time • Compare project schedule objectives • Determine resource requirements to meet objectives

  5. Project Planning • Project Network • Building a sidewalk

  6. Project Control • Control • Activities are identified • Activities are completed in order • Resource needs • Schedule changes and corrections • Main Goal – maintaining project schedule so project in on-time and close to budget

  7. Project Control • Work Breakdown Structure (WBS) • Method for project planning and control • Breaks down components, sub-components, activities, and tasks

  8. Work Break Down Structure • Good way to identify activities and determine tasks • Helps identify relationships between modules and activities • Cancels out unnecessary duplication of activities

  9. Gantt Chart • Helps identify • start of activities • end of activities • slack time • amount of time an activity can be delayed without delaying the project • precedence relationships between activities

  10. CPM - Critical Path Method • Definition: In CPM activities are shown as a network of precedence relationships using activity-on-node network construction • Single estimate of activity time • Deterministic activity times

  11. PERT - Project Evaluation & Review Techniques • Definition: In PERT activities are shown as a network of precedence relationships using activity-on-arrow network construction • Multiple time estimates • Probabilistic activity times

  12. Critical Path • Longest path through a network • minimum project completion time

  13. Benefits of CPM/PERT • Useful at many stages of project management • Mathematically simple • Give critical path and slack time • Provide project documentation • Useful in monitoring costs

  14. Limitations to CPM/PERT • Clearly defined, independent and stable activities • Specified precedence relationships • Subjective time estimates • Over emphasis on critical paths

  15. Questions Answered by CPM & PERT • Completion date? • On Schedule? • Within Budget? • Critical Activities? • How can the project be finished early at the least cost?

  16. ANY QUESTIONS???

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