1. Project – A complex, non-routine, one-time effort limited by time,
budget, resources and performance specifications designed to meet
customer need
Major characteristics
• An established objective
• Unique
• Defined life span
• Defined budget
• Multifunctional -- CONFLICT
• Interdependency
• Uncertain -- RISK
Project Management
2. Activity and event relationships that graphically portrays the
sequential relations between the tasks in a project
Network Technique
PERT -- Program Evaluation and Review Technique
CPM -- Critical Path Method
• Probabilistic activity time
• Research & Development
• Deterministic activity time
• Construction/Production/Market Survey
Project Management