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Project Management
GN Jayanthy
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What is a Project ?Perhaps the oldest form of organized activity
Definition : A set of finite activities that
is usually performed only once and has
well defined objectives
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Project Management Project Management: involves planning and
controlling a project : its goal is to ensure that the
project objectives are achieved on time and onbudget
Objectives and trade offs : Cost , Schedule, and
Performance : Managing projects often requires
one to take decisions which involves trade off
between these 3 parameters
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Project failure Characteristics
Cost Overrun
Time overrun
Fails to meet its performance objectives
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Project Life cycle Phases &
ProcessesA project can typically be divided in to several phases All
these phase are collectively referred to as PLC. A projectlife cycle serves to define the start and end of a a project.
Every phase could typically involve the followingprocesses
1. Initiation
2. Planning
3. Execution
4. Control5. Closure
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Activities and Decisions in
Project Management : Planning
Scheduling
Control
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Planning Identify the project customers
Establish the end product or service
Set project objectives
Estimate total resources and time required
Decide on the form of organization
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Planning Make key personnel appointments
Define major tasks
Establish a budget
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Scheduling
Develop a detailed Work Break down
Structure (WBS)
Estimate time required for each task
Sequence the tasks in the correct order
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Scheduling
Develop a start /stop time for each task
Develop a detailed budget for each task
Assign people to tasks
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Control Monitor actual time cost and performance
Compare planned to actual figures
Determine whether corrective action is
needed
Evaluate alternative corrective action
Take appropriate corrective action
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A work breakdown structure defines the
hierarchy of project tasks, subtasks, and
work package
Program
Project 1 Project 2
Task 1.1
Subtask 1.1.1
Work Package 1.1.1.1
Level
1
2
3
4
Task 1.2
Subtask 1.1.2
Work Package 1.1.1.2
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Scheduling Methods - Gantt
ChartGantt Chart: Utilizes a bar or or milestone chart
shows not only how much time is required for
each activity but also when each activity takesplace.
Advantages : Easy to use and understand
Disadvantages : Do not show interdependencies
and relationship between activities , difficult to
schedule and reschedule for complex projects
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Network Planning Techniques Network methods use a graph or a network
to show precedence relations .
Events , (nodes ) The start or end of an
activity
Activity : consume a finite amount of time
Dummy activities : Consume 0 time
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Network Planning Techniques Critical Path : represents The set of activities
which would decide the minimum time required
for completing the project. Slack( Free /total ) : the amount of time that the
activity time con be increased without delaying the
very start of the next activity
Notations : Conventions used in drawing the
network- Arrow on Node (AON ) , Arrow on
Activity(AOA)
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Critical Path Method (CPM) Constant time network: The time for each
activity is assumed to be constant
Deterministic time estimates
Computations : Earliest Start Time ( EST),
Earliest Finish Time ( EST), Latest Start
Time (LST), Latest Finish Time ( EFT). ,Critical Path , slack
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Program Evaluation and Review Technique
(PERT)
y Based on Probabilistic time estimates :
Optimistic Time Estimate, Pessimistic
Time Estimate, Most likely Time Estimate,
Most probable Time Estimate,
Computations : Expected time of
completion , Variance on the expected timeof completion
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CPM Time-
Cost trade off Assumes that Cost and Time are inversely
related and hence project completion time
can be reduced by incurring higher costs .
Terms : Crash Cost , Crash Time , Normal
Time , Normal Cost
Computations : Least cost way to reducethe normal project completion time
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Alternate Techniques for Project
scheduling y Critical Chain Method - Based on
Theory of Constraints
y Precedence Diagramming Method (PDM)
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