The document discusses Project Evaluation Review Technique (PERT), a project management tool used to analyze tasks, time required, and critical paths. It describes various project management methodologies like PRINCE2, Agile, and Critical Path Method (CPM) that are suited for different types of projects. Finally, it discusses setting up an organizational structure and quality management process for a project.
“Application of the Program Evaluation Review and TechniquePantho Sarker
The document provides an overview of the Program Evaluation and Review Technique (PERT). It discusses the origin and history of PERT and how it was developed parallel to the Critical Path Method (CPM). The document outlines the key features of PERT, including that it uses three time estimates (optimistic, pessimistic, most likely) to calculate the expected time to complete each task. The advantages of PERT are also summarized, such as how it can be used to determine the estimated project completion date and flexibility in a project schedule.
The document provides an overview of the Program Evaluation and Review Technique (PERT). It begins by defining PERT as a statistical tool used in project management to analyze and represent tasks involved in completing a project. It then discusses the history and development of PERT by the US Navy in the 1950s. The document goes on to explain key PERT concepts such as events, activities, time estimates, floats, critical paths, and how PERT is used to schedule and manage projects. It concludes by discussing some advantages and limitations of using PERT for project management.
This document provides an overview of project management techniques including PERT (Program Evaluation and Review Technique) and CPM (Critical Path Method). It defines key project management terms and explains the steps to create a PERT chart including identifying activities, sequencing activities, estimating activity times, determining critical paths, and updating the chart over time. The document also discusses calculating early start/finish and late start/finish times using forward and backward passes. Overall, it serves as a comprehensive introduction to project scheduling tools PERT and CPM.
The document discusses Project Evaluation and Review Technique (PERT), a method for planning, scheduling, and controlling complex projects. PERT was developed in the late 1950s to manage the Polaris missile program. It involves identifying tasks, durations, dependencies and critical paths to determine the minimum time needed to complete the overall project. The summary analyzes how PERT can be used by nurse managers to plan nursing work schedules and allocate resources efficiently to reduce patient costs and hospital stays.
This document discusses project management and the Program Evaluation and Review Technique (PERT). It begins with introductions to project management and PERT. PERT is a statistical tool used to analyze tasks in a project and determine the minimum time needed. Key PERT concepts discussed include critical path, float, expected and normal times. The document provides a theoretical example and then applies PERT to an industrial example of assembling a switch board. Key steps of PERT execution are outlined. Questions about project management responsibilities are also addressed.
Programme evaluation and review technique &Gantt ChartMathew Varghese V
The document provides information on PERT (Program Evaluation and Review Technique) and Gantt charts. It defines PERT as a project management tool used to schedule and organize tasks. The main objective of PERT is to facilitate decision making and reduce time and costs. Gantt charts are bar charts that illustrate a project schedule, listing tasks vertically and time intervals horizontally. The widths of bars in a Gantt chart show the duration of each activity.
Programme evaluation & review technique (pert)AnkitaKadam20
This document provides an overview of Programme Evaluation & Review Technique (PERT) and Critical Path Method (CPM). It defines PERT as a technique used to plan, schedule, organize, coordinate, and control uncertain project activities, using three time estimates. CPM is defined as a method used to plan, schedule, coordinate, and control project activities, assuming fixed activity durations. The document outlines the key components, steps, and benefits of PERT and CPM, noting they are both useful for project planning but designed for different types of projects and environments.
“Application of the Program Evaluation Review and TechniquePantho Sarker
The document provides an overview of the Program Evaluation and Review Technique (PERT). It discusses the origin and history of PERT and how it was developed parallel to the Critical Path Method (CPM). The document outlines the key features of PERT, including that it uses three time estimates (optimistic, pessimistic, most likely) to calculate the expected time to complete each task. The advantages of PERT are also summarized, such as how it can be used to determine the estimated project completion date and flexibility in a project schedule.
The document provides an overview of the Program Evaluation and Review Technique (PERT). It begins by defining PERT as a statistical tool used in project management to analyze and represent tasks involved in completing a project. It then discusses the history and development of PERT by the US Navy in the 1950s. The document goes on to explain key PERT concepts such as events, activities, time estimates, floats, critical paths, and how PERT is used to schedule and manage projects. It concludes by discussing some advantages and limitations of using PERT for project management.
This document provides an overview of project management techniques including PERT (Program Evaluation and Review Technique) and CPM (Critical Path Method). It defines key project management terms and explains the steps to create a PERT chart including identifying activities, sequencing activities, estimating activity times, determining critical paths, and updating the chart over time. The document also discusses calculating early start/finish and late start/finish times using forward and backward passes. Overall, it serves as a comprehensive introduction to project scheduling tools PERT and CPM.
The document discusses Project Evaluation and Review Technique (PERT), a method for planning, scheduling, and controlling complex projects. PERT was developed in the late 1950s to manage the Polaris missile program. It involves identifying tasks, durations, dependencies and critical paths to determine the minimum time needed to complete the overall project. The summary analyzes how PERT can be used by nurse managers to plan nursing work schedules and allocate resources efficiently to reduce patient costs and hospital stays.
This document discusses project management and the Program Evaluation and Review Technique (PERT). It begins with introductions to project management and PERT. PERT is a statistical tool used to analyze tasks in a project and determine the minimum time needed. Key PERT concepts discussed include critical path, float, expected and normal times. The document provides a theoretical example and then applies PERT to an industrial example of assembling a switch board. Key steps of PERT execution are outlined. Questions about project management responsibilities are also addressed.
Programme evaluation and review technique &Gantt ChartMathew Varghese V
The document provides information on PERT (Program Evaluation and Review Technique) and Gantt charts. It defines PERT as a project management tool used to schedule and organize tasks. The main objective of PERT is to facilitate decision making and reduce time and costs. Gantt charts are bar charts that illustrate a project schedule, listing tasks vertically and time intervals horizontally. The widths of bars in a Gantt chart show the duration of each activity.
Programme evaluation & review technique (pert)AnkitaKadam20
This document provides an overview of Programme Evaluation & Review Technique (PERT) and Critical Path Method (CPM). It defines PERT as a technique used to plan, schedule, organize, coordinate, and control uncertain project activities, using three time estimates. CPM is defined as a method used to plan, schedule, coordinate, and control project activities, assuming fixed activity durations. The document outlines the key components, steps, and benefits of PERT and CPM, noting they are both useful for project planning but designed for different types of projects and environments.
This document provides an overview of project management techniques, including definitions, phases, and methods. It discusses:
1. Project management involves planning, scheduling, and controlling interrelated activities using limited resources over a defined time period.
2. Popular techniques include Critical Path Method (CPM) and Program Evaluation and Review Technique (PERT), which use network diagrams and time/resource estimates to identify critical paths and schedules.
3. Project formulation involves feasibility analysis, design, financial analysis, and cost-benefit analysis to evaluate a project idea before implementation.
This document discusses several project scheduling and management techniques including Gantt charts, PERT charts, critical path method, critical chain scheduling, and using project management software. It provides descriptions and examples of each technique. Gantt charts track task progress visually on a timeline. PERT uses statistical analysis to estimate activity durations. Critical path method identifies the longest sequence of tasks. Critical chain scheduling accounts for limited resources by removing buffers and adding buffers to the project schedule. Project management software can help facilitate communications and schedule analysis if used properly.
The document discusses a project to move a company's credit card operations from Dallas to Des Moines within a 22 week deadline. It identifies 10 activities in the project including selecting an office site, creating a financial plan, determining personnel needs, and training new employees. It constructs a network diagram to show the precedence relationships between activities and introduces dummy activities to correctly depict relationships. It then estimates optimistic, most likely, and pessimistic times for each activity to find the project's critical path using the Critical Path Method (CPM).
CPM and PERT are network analysis techniques used for project planning and scheduling. CPM was developed in the 1950s by DuPont for chemical plant projects and focuses on minimizing project duration. PERT was developed by the US Navy for the Polaris missile program and handles uncertain activity times using probability. Both techniques represent activities as nodes and their dependencies as arrows to build a network that identifies the critical path showing the shortest time to complete the project.
The document discusses the history and key concepts of Critical Path Method (CPM) and Program Evaluation and Review Technique (PERT), which are network analysis techniques used for project management. CPM was developed by DuPont in the 1950s for chemical plant projects, while PERT was developed by the US Navy for the Polaris missile program. Both techniques use network diagrams of activities and their dependencies to analyze the critical path and schedule of a project.
Network analysis techniques like CPM and PERT are useful for planning, scheduling, and controlling projects. They define activities, durations, and dependencies using a network diagram. The critical path is identified as the longest sequence of activities to complete the project. Monitoring progress against the network allows managers to focus on critical tasks and adjust resources if needed to minimize delays. While useful for large projects, activity definitions and time estimates require care to apply these techniques accurately.
PERT is a scheduling method used to plan, schedule, and control projects. It employs a network of interrelated activities and coordinates costs and time criteria. The example project involves building a parade float over 26 weeks. PERT is used to identify the project's critical path of activities, calculate the probability of completing on time, and determine which path has the highest likelihood of completion within the deadline. The critical path is identified as A-C-F-I-K at 23 weeks, and there is a 98.30% probability of completing the entire project within the 26 week deadline.
The document discusses the Program Evaluation and Review Technique (PERT), a network model used for project management that accounts for uncertainty in activity times. PERT was developed in the late 1950s for large, complex projects like the Polaris missile system. It uses three time estimates - optimistic, pessimistic, and most likely - to calculate the expected time, variance, and probability of completing a project by a certain date using statistical methods like the beta distribution and normal distribution. PERT identifies the critical path that determines the project completion time and allows project managers to focus on critical activities.
The document discusses project scheduling and tracking methods like PERT charts, Gantt charts, and the critical path method (CPM). PERT charts show task sequences and durations, while Gantt charts graphically present start/end dates. CPM identifies the critical path with the lowest schedule flexibility by performing forward and backward passes to calculate early/late starts and floats. The critical path has zero float and determines the project completion date.
The document discusses project management techniques like CPM and PERT. It provides 3 examples of projects: 1) construction of a retail complex, 2) clinical trials of a new drug, and 3) introduction of multimedia resources at a teacher's college. It then defines what a project is, noting that it is a unique endeavor with a defined start and end, undertaken to achieve specific objectives within time and resource constraints. The document discusses key aspects of project management like work breakdown structure, network diagrams, critical path method (CPM), and program evaluation and review technique (PERT).
The document discusses the history and concepts of Critical Path Method (CPM) and Program Evaluation and Review Technique (PERT), which are network analysis techniques used for project management. CPM was developed by DuPont in the 1950s for chemical plant projects, while PERT was developed by the US Navy for the Polaris missile program. Both techniques use network diagrams of activities and their dependencies to analyze the critical path and schedule of a project. CPM uses deterministic activity times while PERT uses probabilistic times to account for uncertainty. The techniques help answer questions about project completion dates, schedules, budgets, and how to finish early.
#Project Scheduling - Network Diagrams : PERT & CPM# By SN PanigrahiSN Panigrahi, PMP
Project scheduling involves three key steps: (1) identifying all tasks that need to be completed, (2) determining when each task will be done, and (3) assigning resources to complete each task. This allows a project manager to plan dates, link activities, estimate durations, and set milestones to track a project's progress over time.
The document discusses project management techniques CPM/PERT. It provides examples of 3 different project managers and their roles overseeing construction of a retail complex, clinical trials for a new drug, and introducing new teaching resources at a college. It then defines key characteristics of projects, examples of project types, and an overview of what project management entails. The document proceeds to describe the project management process and techniques used in CPM and PERT including network diagrams, critical path analysis, and probability calculations for assessing project completion time.
This presentation summarizes the Line of Balance (LOB) project scheduling technique. LOB was developed in the 1940s/50s for repetitive construction projects like highways, pipelines, and buildings. It uses a simple diagram to show the location and timing of work crews for each task. The key steps are: 1) creating a logic diagram of tasks, 2) estimating task durations, 3) selecting a buffer time, and 4) calculating targets to meet deadlines. LOB helps optimize resource usage and identifies potential issues. It provides clear visibility into work progress and allows easy schedule updating for repetitive projects.
Project Management: NETWORK ANALYSIS - CPM and PERTS.Vijaya Bhaskar
This document provides information about project management techniques including network analysis using Critical Path Method (CPM) and Program Evaluation and Review Technique (PERT). It defines what a project and network are, and describes the basic steps and concepts involved in CPM and PERT. These include drawing networks, identifying critical paths, calculating expected durations and variances of activities, and determining the probability of completing projects within given timeframes. Examples are provided to illustrate key concepts like crashing project durations and calculating associated costs. The document is intended as a teaching aid for understanding fundamental aspects of project network analysis.
The document discusses the Program Evaluation and Review Technique (PERT) which is a management tool used to define and integrate project events. PERT uses optimistic, pessimistic, and most likely time estimates to calculate the expected time for tasks. It is event-oriented and models the logical order and dependencies of activities. Variance and standard deviation are also calculated to measure uncertainty. An example project is provided showing how to determine activity times, critical paths, and the probability of meeting a deadline.
PERT and CPM are project management tools used to schedule, organize, and coordinate tasks within a project. PERT was developed for uncertain schedules and uses three time estimates, while CPM uses known times. Both tools involve identifying tasks, estimating durations, and displaying the tasks in a network diagram to identify the critical path of interdependent activities. This helps project managers monitor progress and ensure projects are completed on time, within budget, and to quality standards.
IRJET- Project Management, Planning and its Prospectus in the Context of Proj...IRJET Journal
This document discusses project planning and management. It begins by defining a project as a temporary endeavor undertaken to create a unique product or service. Project planning and management are key to successfully completing any project. Planning involves developing appropriate reports and documents to have a clear and complete project. Management involves applying skills, tools, and techniques to project activities to meet requirements. Planning without management is useless - both are needed to develop a successful project. The document then discusses factors that can lead to project success or failure, and the importance of planning activities and adhering to schedules in project management.
The document discusses various project management methodologies including Waterfall, Agile, Scrum, Kanban, and Critical Path Method (CPM). It provides descriptions of how each methodology works, when it should be used, advantages and disadvantages. The Critical Path Method in particular aims to identify the longest sequence of dependent tasks in a project in order to minimize the overall project duration.
This document provides an overview of project management techniques, including definitions, phases, and methods. It discusses:
1. Project management involves planning, scheduling, and controlling interrelated activities using limited resources over a defined time period.
2. Popular techniques include Critical Path Method (CPM) and Program Evaluation and Review Technique (PERT), which use network diagrams and time/resource estimates to identify critical paths and schedules.
3. Project formulation involves feasibility analysis, design, financial analysis, and cost-benefit analysis to evaluate a project idea before implementation.
This document discusses several project scheduling and management techniques including Gantt charts, PERT charts, critical path method, critical chain scheduling, and using project management software. It provides descriptions and examples of each technique. Gantt charts track task progress visually on a timeline. PERT uses statistical analysis to estimate activity durations. Critical path method identifies the longest sequence of tasks. Critical chain scheduling accounts for limited resources by removing buffers and adding buffers to the project schedule. Project management software can help facilitate communications and schedule analysis if used properly.
The document discusses a project to move a company's credit card operations from Dallas to Des Moines within a 22 week deadline. It identifies 10 activities in the project including selecting an office site, creating a financial plan, determining personnel needs, and training new employees. It constructs a network diagram to show the precedence relationships between activities and introduces dummy activities to correctly depict relationships. It then estimates optimistic, most likely, and pessimistic times for each activity to find the project's critical path using the Critical Path Method (CPM).
CPM and PERT are network analysis techniques used for project planning and scheduling. CPM was developed in the 1950s by DuPont for chemical plant projects and focuses on minimizing project duration. PERT was developed by the US Navy for the Polaris missile program and handles uncertain activity times using probability. Both techniques represent activities as nodes and their dependencies as arrows to build a network that identifies the critical path showing the shortest time to complete the project.
The document discusses the history and key concepts of Critical Path Method (CPM) and Program Evaluation and Review Technique (PERT), which are network analysis techniques used for project management. CPM was developed by DuPont in the 1950s for chemical plant projects, while PERT was developed by the US Navy for the Polaris missile program. Both techniques use network diagrams of activities and their dependencies to analyze the critical path and schedule of a project.
Network analysis techniques like CPM and PERT are useful for planning, scheduling, and controlling projects. They define activities, durations, and dependencies using a network diagram. The critical path is identified as the longest sequence of activities to complete the project. Monitoring progress against the network allows managers to focus on critical tasks and adjust resources if needed to minimize delays. While useful for large projects, activity definitions and time estimates require care to apply these techniques accurately.
PERT is a scheduling method used to plan, schedule, and control projects. It employs a network of interrelated activities and coordinates costs and time criteria. The example project involves building a parade float over 26 weeks. PERT is used to identify the project's critical path of activities, calculate the probability of completing on time, and determine which path has the highest likelihood of completion within the deadline. The critical path is identified as A-C-F-I-K at 23 weeks, and there is a 98.30% probability of completing the entire project within the 26 week deadline.
The document discusses the Program Evaluation and Review Technique (PERT), a network model used for project management that accounts for uncertainty in activity times. PERT was developed in the late 1950s for large, complex projects like the Polaris missile system. It uses three time estimates - optimistic, pessimistic, and most likely - to calculate the expected time, variance, and probability of completing a project by a certain date using statistical methods like the beta distribution and normal distribution. PERT identifies the critical path that determines the project completion time and allows project managers to focus on critical activities.
The document discusses project scheduling and tracking methods like PERT charts, Gantt charts, and the critical path method (CPM). PERT charts show task sequences and durations, while Gantt charts graphically present start/end dates. CPM identifies the critical path with the lowest schedule flexibility by performing forward and backward passes to calculate early/late starts and floats. The critical path has zero float and determines the project completion date.
The document discusses project management techniques like CPM and PERT. It provides 3 examples of projects: 1) construction of a retail complex, 2) clinical trials of a new drug, and 3) introduction of multimedia resources at a teacher's college. It then defines what a project is, noting that it is a unique endeavor with a defined start and end, undertaken to achieve specific objectives within time and resource constraints. The document discusses key aspects of project management like work breakdown structure, network diagrams, critical path method (CPM), and program evaluation and review technique (PERT).
The document discusses the history and concepts of Critical Path Method (CPM) and Program Evaluation and Review Technique (PERT), which are network analysis techniques used for project management. CPM was developed by DuPont in the 1950s for chemical plant projects, while PERT was developed by the US Navy for the Polaris missile program. Both techniques use network diagrams of activities and their dependencies to analyze the critical path and schedule of a project. CPM uses deterministic activity times while PERT uses probabilistic times to account for uncertainty. The techniques help answer questions about project completion dates, schedules, budgets, and how to finish early.
#Project Scheduling - Network Diagrams : PERT & CPM# By SN PanigrahiSN Panigrahi, PMP
Project scheduling involves three key steps: (1) identifying all tasks that need to be completed, (2) determining when each task will be done, and (3) assigning resources to complete each task. This allows a project manager to plan dates, link activities, estimate durations, and set milestones to track a project's progress over time.
The document discusses project management techniques CPM/PERT. It provides examples of 3 different project managers and their roles overseeing construction of a retail complex, clinical trials for a new drug, and introducing new teaching resources at a college. It then defines key characteristics of projects, examples of project types, and an overview of what project management entails. The document proceeds to describe the project management process and techniques used in CPM and PERT including network diagrams, critical path analysis, and probability calculations for assessing project completion time.
This presentation summarizes the Line of Balance (LOB) project scheduling technique. LOB was developed in the 1940s/50s for repetitive construction projects like highways, pipelines, and buildings. It uses a simple diagram to show the location and timing of work crews for each task. The key steps are: 1) creating a logic diagram of tasks, 2) estimating task durations, 3) selecting a buffer time, and 4) calculating targets to meet deadlines. LOB helps optimize resource usage and identifies potential issues. It provides clear visibility into work progress and allows easy schedule updating for repetitive projects.
Project Management: NETWORK ANALYSIS - CPM and PERTS.Vijaya Bhaskar
This document provides information about project management techniques including network analysis using Critical Path Method (CPM) and Program Evaluation and Review Technique (PERT). It defines what a project and network are, and describes the basic steps and concepts involved in CPM and PERT. These include drawing networks, identifying critical paths, calculating expected durations and variances of activities, and determining the probability of completing projects within given timeframes. Examples are provided to illustrate key concepts like crashing project durations and calculating associated costs. The document is intended as a teaching aid for understanding fundamental aspects of project network analysis.
The document discusses the Program Evaluation and Review Technique (PERT) which is a management tool used to define and integrate project events. PERT uses optimistic, pessimistic, and most likely time estimates to calculate the expected time for tasks. It is event-oriented and models the logical order and dependencies of activities. Variance and standard deviation are also calculated to measure uncertainty. An example project is provided showing how to determine activity times, critical paths, and the probability of meeting a deadline.
PERT and CPM are project management tools used to schedule, organize, and coordinate tasks within a project. PERT was developed for uncertain schedules and uses three time estimates, while CPM uses known times. Both tools involve identifying tasks, estimating durations, and displaying the tasks in a network diagram to identify the critical path of interdependent activities. This helps project managers monitor progress and ensure projects are completed on time, within budget, and to quality standards.
IRJET- Project Management, Planning and its Prospectus in the Context of Proj...IRJET Journal
This document discusses project planning and management. It begins by defining a project as a temporary endeavor undertaken to create a unique product or service. Project planning and management are key to successfully completing any project. Planning involves developing appropriate reports and documents to have a clear and complete project. Management involves applying skills, tools, and techniques to project activities to meet requirements. Planning without management is useless - both are needed to develop a successful project. The document then discusses factors that can lead to project success or failure, and the importance of planning activities and adhering to schedules in project management.
The document discusses various project management methodologies including Waterfall, Agile, Scrum, Kanban, and Critical Path Method (CPM). It provides descriptions of how each methodology works, when it should be used, advantages and disadvantages. The Critical Path Method in particular aims to identify the longest sequence of dependent tasks in a project in order to minimize the overall project duration.
Activity schedule and affective control of component based projecteSAT Journals
Abstract Abstract The overall performance of any organizations depends on the way the project is managed and scheduled. The successful implementation of one or two big or complex project does not indicate that this organization will perform In the same way in future. Component based implementation of software development projects in the automotive industry have to face the rapid strategies for the use of the latest technologies that would provide the success of this type of projects, namely the frequency of change requirements during the life cycle. The cost and time for software testing was analyzed and to avoid delays in the project and more to cope with disturbances caused by changing requirements in the each phase of the project life cycle. Using of Component Based Software Engineering(CBSE) in software company, the implementation of any software project has become easy but the integration of available component or their use is the not only skill of project manager but the delivery of project in time is a required.. The project manager ensure the success of their project as a competitive advantage and establish such a system which will work with limited resources and available time. The project management tools and techniques i.e. Critical Path Methods(CPM) or Program Evaluation and Review Techniques (PERT) are used in reality as the most valuable and are planned to be used in the component based software testing system. This research result point out that there is a huge difference between planned and unplanned testing project. It also shows that the time of testing can be reduced with increase of cost of failure as a result the company may decide the benefit from that project. Analysis of the results allows to determine dependencies between level of company’s maturity level in project management, used project management tools and techniques, and values gained by the company from project management time to time with measured risk factor. Key Words: K Component Base Software Engineering(CBSE), CPM, PERT, Project life cycle, planned or unplanned project
This document provides an overview of project management techniques PERT and CPM. It begins with an introduction to project management, explaining that it ensures projects are properly planned and executed to deliver value. It then describes PERT as a method for analyzing time needed to complete project tasks and identify minimum time to complete a project while incorporating uncertainty. CPM is described as a technique that calculates the longest path of activities to determine which are critical and have float. The document emphasizes that these techniques help ensure projects are completed on time and on budget by structuring the planning and management of tasks and dependencies.
A Software For Project Management ProcessRenee Lewis
This document describes a software application called Research Project Management (RPM) that was developed to help manage research projects. RPM was created using Microsoft Access and VBA programming to implement modules for project management based on the TenStep methodology. The software contains six functional modules that correspond to the stages of the TenStep methodology for initializing, evaluating, making changes to, communicating about, managing risks for, and evaluating the quality and metrics of a research project. The modules allow the project manager to plan project phases, track costs and schedules, make changes, communicate status, analyze risks and solutions, and evaluate the project quality. RPM is intended to provide a complete tool for coordinating all aspects of research project management.
The document discusses the initiating process for projects, including pre-initiating tasks, breaking large projects into smaller phases, and key initiating tasks like creating a project charter and holding a kick-off meeting. It provides an example of initiating the Just-In-Time Training project at Global Construction, which was divided into two phases with defined scope, time, and cost goals for phase one. The importance of top management support and developing an organizational project management methodology are also covered.
This document provides an overview of project management. It defines a project as a one-time effort to produce a specific result, compared to an ongoing program. Project management includes developing a project plan with goals, tasks, resources, budgets and timelines. It also includes managing the implementation of the plan and ensuring the project stays on track. Common project phases include initiation, planning, execution, monitoring/controlling, and closing. Different approaches to project management are discussed such as traditional phased approaches, critical chain project management, and agile methods.
Scheduling coordination and control of projects Somashekar S.M
This document discusses project scheduling techniques. It provides definitions of key scheduling concepts like activities, logical relationships, and network diagrams. The document traces the historical development of scheduling from basic Gantt charts to modern critical path method (CPM) and program evaluation review technique (PERT). It explains that CPM and PERT were developed in the 1950s and use activity networks to determine the critical path and project duration. The document also defines common network diagramming techniques like precedence diagramming method (PDM) and different activity relationships.
Project Time Estimation 6 Powerful Tips & TricksSHAZEBALIKHAN1
Check out the 6-time estimation methods for project & activity duration. The approaches are used worldwide and are proven to be effective and powerful.
This document discusses issues with traditional project management approaches and proposes an alternative approach called Lean Project Management. It argues that traditional approaches focus too much on tasks and activities rather than managing the flows and dependencies between operations. Lean Project Management views a project as a network of operation flows and focuses on managing these flows. Key aspects of Lean Project Management discussed include the Last Planner System for detailed planning and measuring planning reliability through Percent Planned Complete. The document advocates for adopting Lean Project Management approaches to improve project outcomes in the oil and gas industry.
12 Terms You Should Know | Project Management Fundamentals
12 key terms that we think everyone should know (from beginners to experts)
12 key project management terms that she thinks everyone involved with projects should know. No longer get confused when confronted with unfamiliar terms
#projectmanagement #terms #tips #Tamdeed
Project management involves planning, directing, and controlling resources to complete projects on time and within budget. A key part of project management is work breakdown structure (WBS), which divides work into smaller tasks assigned to organizational units. Critical path method (CPM) and program evaluation and review technique (PERT) are used to schedule projects by identifying the longest sequence of tasks on the critical path that determine the project's duration.
This module discusses various aspects of project planning and management, including tracking project progress, time tracking, risk management, and project evaluation. Effective project tracking through tasks, resources, meetings, and reporting allows project managers to monitor progress and address any issues. Time delays should be managed by offering help for initial delays, taking immediate action after a second delay, and considering replanning after a third delay. Project metrics can provide status, identify improvement areas, and demonstrate results. Regular risk monitoring ensures assumptions remain valid and risks are accurately assessed. Project closure activities include releasing resources, transition planning, and documentation.
Construction Project Managment Techniquesguestc8140fe
The document provides an overview of project management and different project management techniques. It discusses what a project is and defines project management. It then summarizes different project management methods including critical path method (CPM) and Program Evaluation and Review Technique (PERT). CPM uses fixed time estimates while PERT allows for uncertainty in activity times. The document also outlines the basic steps for using CPM and PERT in project planning and management.
Earned Value Management for Design and Construction Projectijtsrd
This document discusses earned value management (EVM) as an effective tool for tracking and controlling construction project costs and schedules. EVM integrates cost, schedule and technical performance by comparing the planned cost of work scheduled to the actual cost of work performed. The document provides background on EVM, including its history and use in various industries. It then discusses how EVM establishes a cost baseline and calculates variances to analyze project performance and identify potential issues needing corrective action in order to complete projects on time and on budget.
Project Management, Perspective, Planning And ImplementationCamella Taylor
Project planning is key to a project's success. It involves defining the project, developing a work breakdown structure that outlines all tasks and subtasks, and creating schedules, budgets, and quality plans. Effective project planning requires identifying roles and responsibilities, establishing communication plans, and considering risks and constraints. Careful planning helps ensure projects are completed on time, on budget, and to a high quality.
The role of time, cost and quality in project managementIRJET Journal
This document discusses the roles of time, cost, and quality in project management. It states that these three factors are interrelated and impact each other, making it difficult for project managers to balance them. The document reviews literature that analyzed how planning, monitoring, and controlling impact the timely completion of construction projects. It also discusses how tools like Microsoft Project and Primavera P6 can help optimize schedules, budgets, and quality. Overall, the document examines the relationships between time, cost, and quality in project management and how effectively managing these key factors is important for project success.
The document discusses project phases and management. It describes the typical 5 phases of a project - initiation, planning, execution, monitoring and control, and closure. It provides details on each phase, including developing a project charter and business case in initiation, creating a project plan and defining roles in planning, executing the project in the execution phase, monitoring and controlling the project, and closing the project. It also discusses the importance of project feasibility studies and setting goals using SMART and CLEAR frameworks to help define goals that cater to dynamic project environments.
MBA 6941, Managing Project Teams 1 Course Learning Ou.docxShiraPrater50
The document provides an overview of key concepts and processes related to project scope management and time management. It defines scope management as the processes used to define, control, and validate the work required to successfully deliver a project. It outlines six processes for scope management including planning scope management, collecting requirements, defining scope, creating a work breakdown structure, validating scope, and controlling scope. It also defines seven processes for time management including planning schedule management, defining activities, sequencing activities, estimating activity resources and durations, developing the schedule, and controlling the schedule. The critical path is described as the longest path through a project network diagram that determines the shortest project duration.
Planning & Scheduling of Commercial Building using Microsoft Project & Applic...IRJET Journal
This document discusses planning and scheduling of a commercial building construction project using Microsoft Project and applying principles of the Theory of Constraints to improve efficiency. It provides background on the Theory of Constraints and Critical Chain Project Management, which aims to identify and manage constraints. The document then summarizes how these principles were applied to the scheduling and buffer management of a commercial building project in Microsoft Project to help complete it on time by accounting for uncertainties and limiting impacts of changes. Key aspects included identifying the schedule as a core constraint, using Critical Chain Project Management to determine the critical path, and inserting different types of buffers (project, feeding, resource) into the schedule to protect against delays.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
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Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...my Pandit
Dive into the steadfast world of the Taurus Zodiac Sign. Discover the grounded, stable, and logical nature of Taurus individuals, and explore their key personality traits, important dates, and horoscope insights. Learn how the determination and patience of the Taurus sign make them the rock-steady achievers and anchors of the zodiac.
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Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
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This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
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The Evolution and Impact of OTT Platforms: A Deep Dive into the Future of Ent...ABHILASH DUTTA
This presentation provides a thorough examination of Over-the-Top (OTT) platforms, focusing on their development and substantial influence on the entertainment industry, with a particular emphasis on the Indian market.We begin with an introduction to OTT platforms, defining them as streaming services that deliver content directly over the internet, bypassing traditional broadcast channels. These platforms offer a variety of content, including movies, TV shows, and original productions, allowing users to access content on-demand across multiple devices.The historical context covers the early days of streaming, starting with Netflix's inception in 1997 as a DVD rental service and its transition to streaming in 2007. The presentation also highlights India's television journey, from the launch of Doordarshan in 1959 to the introduction of Direct-to-Home (DTH) satellite television in 2000, which expanded viewing choices and set the stage for the rise of OTT platforms like Big Flix, Ditto TV, Sony LIV, Hotstar, and Netflix. The business models of OTT platforms are explored in detail. Subscription Video on Demand (SVOD) models, exemplified by Netflix and Amazon Prime Video, offer unlimited content access for a monthly fee. Transactional Video on Demand (TVOD) models, like iTunes and Sky Box Office, allow users to pay for individual pieces of content. Advertising-Based Video on Demand (AVOD) models, such as YouTube and Facebook Watch, provide free content supported by advertisements. Hybrid models combine elements of SVOD and AVOD, offering flexibility to cater to diverse audience preferences.
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The impact of OTT platforms on the Bollywood film industry is significant. The competition for viewers has led to a decrease in cinema ticket sales, affecting the revenue of Bollywood films that traditionally rely on theatrical releases. Additionally, OTT platforms now pay less for film rights due to the uncertain success of films in cinemas.
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PERT
1. Task 3/3
“A program evaluation review technique” (PERT), is a graphical illustration or
representation of a projects’ schedule which shows the sequence of tasks to be
performed - technopedia.com (c 2018). This tool is a creation of U.S Navy (1950). It
created this technique to manage the Polaris Submarine missile program during the
cold war era. Subsequently, they have been used routinely since then. Project
managers use PERT charts to analyse the tasks and minimum time required to
complete a project. Including the ability to track assets during any stage of
production is the course of the entire project, PERT analysis incorporates data and
information from multiple departments. This fosters each departments’ responsibility
, recognises individuals/ groups across the organizations, improves communication
during the project and directs the organization to focus upon projects those are
relevant to its strategic positioning.
On the other hand, the technique when used in corporation with “what-if analysis” (A
what if analysis an output from a financial model using various assumptions or
scenarios) understands the possibilities relating to the flow of project resources and
milestones those further enable management to achieve the most efficient and vital
project path.
Alongside, PERT is a variant of Critical Path Analysis that takes a slightly more
sceptical view of time estimate made for each project stage. In regard to use, it
estimates the shortest possible time for each activity, the most likely length of time
and the longest duration that is expected to incur if the activity takes longer than the
estimated time.
2. The following formula may be used to calculate the time to use for each project stage
as it helps to achieve more pragmatic outcome rather than unrealistic short time
scale assumption:
Formula: Shortest time + 4*likely time + longest time
6
Ultimately, PERT is beneficial as it provides the following information;
Expected time in which the project would be fulfilled
Chance of competition before a calculated date
The critical path activities that would directly affect the competition time
The activities those may take longer to finish and can lend resources to critical
path activities
Start and end date for each activity.
Task 1/ 2
“Project Management Methodology” is a strictly defined combinations of logically
related practices, methods and processes that determine how best to plan, develop,
control and deliver a project throughout the continuous implementation process until
successful completion and termination. It is a scientifically proven, systematic and
disciplined approach to project design, execution and completion” (mymanagement-
guide.com-c 2018).
The purpose of project methodology is to enable for controlling the entire
management process through effective decision making and problem solving tasks
and ultimately ensuring the success of a particular project. It would not be wrong to
3. say that a project management methodology provides a skeleton for describing and
developing each step that would necessitate executing and completing the project
according to the specified requirements, keeping each project’s distinct
requirements.
Hence as a consequence, different project management methodologies have been
selected as per the projects defined in the above Gantt Chart.
For Project 1 and 8, PRINCE 2 is the project management methodology that has
been opted for. PRINCE 2 is a structured certified methodology that stands for
projects IN Controlled Environments. Initially created by the U.K government for IT
projects, it is unlike traditional methods and follows seven principles, themes and
procedures. One of the reasons this methodology’s selection is the mandatory
following of seven principles, themes and procedures those are fundamental for a
well defined and versed first and last project. The seven phased methodology caters
for the following points :
1. Starting- up a project
2. Directing a project
3. Initiating a project
4. Controlling a stage
5. Managing product delivery
6. Managing stage boundaries
7. Closing a project
4. While these seven stages are in progress , annals are created so the project stays
well- regulated and on track. The logs are comprised of ; Business case, Risk
register, Quality register, Issues register, Lesson log and Daily log. Therefore these
logs are also brought in use to report to the project board, check deliverables against
quality requirements and look- out for dilemmas in order to improve the future work
flow.
Ultimately, the extensive documentation involved in PRINCE 2 projects are vital for
corporate planning and performance tracking. Also, since PRINCE 2 has cerification
awarded by AXECOS , require user to receive training course with an Accredited
Training Organisation (ATO) followed by an exam, hence the project manager in
charge for this method having such a certification would be a better selection of an
expert to execute and handle the project rather than relying on uncertified or under
qualified personals not having enough knowledge of the methodology and risking the
most important projects those are the first and last project, indeed the projects
requiring immense value of knowledge and expertise.
The methodology selected for Project : 2,3 and 4 is AGILE. This project methodology
breaks down projects into smaller pieces also known as sprints those are completed
in work sessions and follow a pattern from design phase to testing and quality
assurance. One of the major reasons for choosing this methodology is the element
of flexibility and quick fix to flexible traits of the methodology along the project
managers to alter the method according to the current environment and leave no
space for the changes or amendments to be left for later consideration. Alongside,
the rapid detection of problem leaves the method to be used in the most efficient
demeanour and leave barely any chance for any type of flaws. Most importantly, the
increased collaboration with users make the project a fit need not just for the
5. execution but also for the ultimate users (customers) – This refers to the involvement
/ feedback from the customers with short intervals of time. On a parallel note, as the
the developments start early, the benefits are also realised early while the activities
are still in progress. Therefore, it is a suggested method for fast- pacing methods
and tight competitive environments. Not to forget, Manley DIY solutions service
would be highly suitable for this method to be incorporated as its flexibility and
freedom traits respectively would be well suited for creative projects (DIY solutions)
and help Manley to achieve competitive positioning in the market.
Keeping projects: 5, 6 and 7 in consideration, it is suggested to adopt Critical Path
Method (CPM) ; a methodology developed by Morgan R. Walker of DuPont and
James E. Kelley Jr. of Remington Rand in the 1950s. These projects are
comparatively smaller in size; hence they sought to be well- managed by CPM. In
CPM, one categorizes all the activities needed to be completed under a particular
project and within a Wok Breakdown Structure (WBS), followed by the mapping of
projected duration of each activity and interdependencies between the activities. As
these projects include activities those need to be scheduled and are dependent upon
each other, hence CPM would cater for these necessities. For e.g. if Task X depends
on Task Y, CPM would aid in the identification and scheduling of such matter.
Alongside, the CPM assists in the prioritization of the activities those need to come
under a project. Hence, the classification of critical and non- critical activities would
help in prioritizing the resources better.
As the projects are comparatively smaller, their deadlines are also shorter , so
assigning date and time duration to these projects and their sub-tasks would be
optimal as the managers would be able to keep a time track of each activity and
work efficiently towards their successful completion.
6. 3. In the same report, assess the feasibility of all the projects and decide on
one to carry out first.
Feasibility Assessment (based upon assumptions)
Technical Feasibility:
Project : 1,2,5,6 and 7 do not currently have the required technology to carry- out the
projects. They require pertinent softwares and networks to be installed in order to
exhibit the expected performance. Also, what lacks is the technical competence for
Project: 1 specifically. But, as this project would be carried- out after Project: 3
(Personals), it is hoped that the technical competency would be catered for. Hence it
is an interdependent solution.
Legal & Regulatory Feasibility:
There are certain laws those need to be kept streamlined and well- incorporated with
Project: 1,2,3 and 4 , particularly. For instance : Consumer Act- Law 1998,
Employment- Right Act 1996, Consumer Protection Law, Financial Services and
Markets Act 2000 etc. In order to best understand , implement and regulate the laws
, it is advised to obtain legal services/ heir an advocate who could evaluate the
legalities within which the company may be inquired for or within which the company
question its stakeholders , for e.g. with suppliers for breeching contracts).
Organisational Feasibility (Risk Factor):
It would be a rough period for Manley to be capable enough to accept the changes
involved in managing huge volumes of information and adopting new processes. As
most of the projects’ success is interdependent, hence hiring of the right personals in
7. project : 3 could be quite of a task and if its succeeds so would the other projects
with right and vital strategies. Alongside, the company has an edge over its age, size
and experience in the market, therefore it is expected to well absorb the transitions
and perform with a smooth flow.
Social Feasibility:
Under Project: 2 and 5, the employees seem a bit disinterested and unwelcoming
towards the changes in working requirements and conditions. As they have been
accustomed of using traditional ways of managing stock and immeasurable
marketing tools, they do not show acceptance in their current demeanour and fear
the changes. In order to deal with major dilemma, it is suggested to plan to carry- out
the training programs for employees to enlighten them the necessity of
advancements and multiplying successful outcomes those would also benefit them in
the best possible ways.
Economic Feasibility:
The company has been doing financially well in its previous stores and has stable
financial position, it is yet surrounded by daunting competition which is growing
everyday. The most crucial project under economic feasibility in the last project i.e.
incorporating the Project: 1 with all other projects. This would initially be a trial period
and the company would need to have decent funds to facilitate the remedial phase
and re- start certain projects or improve them as required. Thus, it is suggested for
Manley to reserve a certain amount that would take care of the above mentioned
aspects. It could also get the projects insured to transfer the risks and avoid major
pitfalls and allow it to have a backbone even if the elements are against it.
8. Without a question, Project: 3 is the primary (first) building block for Manley and it
ought to initiate with this project. As this project involves the recruitment of the
experts those would carry-out the most critical projects, Project: 1 specifically, it
would require to form a basis for other projects to stand and balance themselves as
strong structures. Without this project, Manley cannot move ahead with its due
projects and would stay rather astray if the right expertise is not recruited
beforehand.
2. Create an organizational structure to carry out the project, and add a
commentary regarding your team structure
A system used to define a hierarchy within an organization is known as an
organizational structure. It typically identifies each job, its function and reporting
route within the organisation. The two primary goals of the organisational chart are
as follow:
1. To establish how an organisation operates.
2. To assist an organisation in achieving its goods to allow for future growth.
There are four main types of organisational charts, namely ; divisional, functional,
geographical and matrix.
Below is a “functional” organisational chart:
**insert chart**
“A project management hierarchy can be defined as a list, in which various
professionals are being ranked from top to bottom, in accordance with their job
responsibilities and their significance to the whole project”. (hierarchystructure.com-
c2018).
9. The organisational structure has been divided into five subdivisions i.e. Project
Manager Owner, Project Sponsor, Project Manager, Team Leader and Team
Members.
Project Owner has the most senior position in this organisational chart where he
would be known as the creator of the project. He would hold the power of selecting,
promoting and removing the other team members (if required). Project Manager
would be responsible to direct the overall operations of the project and duties of the
individual team members also.
Following the position of the Project Owner, comes the hierarchical level of Project
Sponsor in the second rank. Project Sponsor is the financier (professional who
provided the financial resources) of the project where he would communicate with
the Project Owner on a regular basis in order to assess foremost and important
issues pertaining to the project. Together with the Project Owner, the Project
Sponsor would manage the resource needs of the project and also prepare the
financial reports at various stages of the project.
Then comes the position of Project Manager who would be in charge for day-to-day
activities related to the project and would undertake strategic decision making
process. The Project Manager would have direct links with the vendors and would
undertake the scheduling of various sub-projects. It would be his duty for developing
the budgets and developing different strategies for managing the risks attached with
the project. The Project Manager would also be held in charge to communicate with
the senior management in relevance to the performance and program of the Project
Team.
The Project Manager designation is followed by the Team Leader. Such an individual
is responsible to assist all team members involved in the project. Prioritizing the
10. tasks and dividing them in the members according to their expertise area, would be
one of the foremost duties of the Team Leader. He/ she would serve as a
communication bridge between the Team Members and the Project Manager.
He/she would also need to cater the area of responsibility of co-ordinating various
meetings of the Project Team and keeping the official records of all the completed
tasks within the project.
Last but not the least comes the hierarchal position of the Team Members who are
entitled to be the key participants of the project management hierarchy. As they
would be working under the Team Leader, they would need to carry- out all the
assigned tasks within the deadlines and come- up with problem- solving skills. Their
job titles and profiles for this specific project would need to cater for ; database
architect, programmer, designers, troubleshooters etc.
TASK 3/4
3. Create a general quality management process to be used for the project
The concept of quality first emerged from the Industrial Revolution. Quality as a
profession and the managerial process associated with the quality function was
introduced in the late twentieth century and has evolved since then.
“A Quality Management System (QMS) is a collection of business process focused
on consistently meeting customer requirements and enhancing their satisfaction. It is
aligned with an organisation’s purpose and strategic direction” (ISO 9001: 2015).
There are over one million companies and organisations in over 170 countries
certified to IS0 9001. The system is emphasized towards the meeting of customer
requirements and enhancing of customer satisfaction.
11. The ISO 9001:2015 standard provides managers with a tool or process to be
followed in order to continually improve their business performance. Following are
the ISO 9001 requirements or in other words , the process that is to be followed by
Project Manager to adopt and sustain quality :
**insert diagram**
TASK 4/4
1. Explain the change control procedure
Change Control is an essential constituent of the Project Management. Due to rapid
changing business environments it is inevitable that projects would require change(s)
during their life. Without a doubt, change may help to assure of project’s swift
journey with business demands yet it is necessary to assess and approve each
change prudently. The Change Control process in project management guarantees
that each transition proposed during a project is appropriately defined, reviewed and
approved before execution. Alongside, the Change Control process assists in
nullifying unnecessary changes those may disturb services and also aids in efficient
use of resources.
Change Control process is comprised of five stages:
1. Proposing a change
2. Summary of impact
3. Decision
4. Implementing a change
5. Closing a change
12. The two documents brought into use during the process are as follow:
Change Log (provides a record of all changes proposed and decisions made)
Change Request Form (documents details of the change, including the
business case).
1. Proposing a change:
This process enables everybody (including the customers) to advise a change to the
project. Such proposal is usually comprised of a description of the change,
forecasted advantages or other reasons for the change. The change is presented
using the Change Request Form and added to the Change Log for the project.
2. Summary of Impact:
This task is carried out by Project Manager who would consider an all-inclusive
effects on the project catering the following aspects :
Quantifiable cost savings and benefits
Legal regulatory or other unquantifiable reason for change
Estimated cost of the change
Extra resources needed
Impact on other projects and business activities
New risks and issues
After the above analysis , the Project Manager recommends for and against the
change.
3. Decision :
This process takes in account an examination of the change request by an
approved authority. The approved authority weighs all the information provided
by the Project Manager and person making the request.
Following is a list of general decisions :
13. Accept
Accept with comments and special conditions
Reject
Defer (change is not approved, but is left for consideration later)
4. Implementing a change:
If the change is accepted, it would be planned, scheduled and implemented at a
time in accordance with the stakeholders.
A regression test plan is required in case the change has not been decided to
take forward. This is a component of the planning.
It is common to initiate a post- implementation review after “implementation”.
5. Closing a Change:
As implementation takes place, the requester checks and presents his/ her
consent on the Change Log by the Project Manager.
2. Analyse the methods used to measure project performances
“When performance is measured, performance improves. When performance is
measured and reported back, the rate of improvement accelerates”.
(Thomas S. Monson)
Under project management, performance measurement techniques are widely used
to examine the scale of variance from the project plan. They are influential as they
help the project manager decide whether a corrective action is necessary to be taken
or not. The four basic performance measurement techniques are but not limited to :
14. Trend analysis, Performance reviews, earned value analysis and information
distribution. The below analysis revolves around the first three methodologies stated
above.
Assessing project results over several reporting periods to determine if performance
is improving or declining is typically known as trend analysis. Such diagnosis could
be done by plotting results on a graph and hence the project managers can easily
study the schedule performance.
Trend analysis is quite useful for comparison purpose specially for those who wish to
compare status of projects over a number of time spans , be it ; a moving average
three months, four months or six months. Secondly, the trending assists the
management in forecasting the upcoming detrimental trends and thus allows them to
plan for such rough phase and improve the situation or decrease the risk intensity.
Companies also use this technique to plan for projects those have similar nature. On
the contrary, these trends need to be studied thoroughly in order to represent them
on graphs, hence an expert only could perform this task successfully. At times, the
comparison of trends leads the project managers to associate same reasons for the
trend whereas different factors usually cause such results. Ultimately, the project
manager may become biased and overlook the rational and varying reasons for such
change.
Performance Reviews are meetings held to analyse project status. These meetings
could be arranged weekly, bi-weekly, or monthly to align the management team with
the project’s status. Regular meetings help the project managers to pay attention to
troublesome areas and solve them accordingly on time. Consequently, such
beforehand solutions would further avoid the problems to mature and sustain. Not to
forget, the meetings may lead to disagreements among the participants engaged in
15. project management and hence, sowing seeds for delaying in the project
accomplishments and also disabling the project to enjoy efficient use of resources.
On the contrary, absence of any participant in the meeting would also delay the
planning or further urgent action demanding tasks.
Earned Value analysis is the method used quite often for performance
measurement. It is the integration of scope, cost and schedule measures to support
the management team in assessing project performance. This analysis is a
comparison analysis that allows to compare the amount of work planned with the
amount of work that has been successfully completed that involves calculating three
key values for each activity that is carried- out :
1. The planned value :
It is the approved estimation of cost planned to be spent on an activity during a given
time period.
2. The actual cost :
This is comprised of the total costs involved in completing the work.
3. The earned value ; It is the value of the work actually completed during a time
period.
The calculations enable project managers to oversee the cost behaviour and
schedule performance area proceeding as planned. Therefore, the project managers
are able to take prompt remedial actions to avoid serious dilemmas hindering the
swift journey of a project. On the other hand, Earned Value Management works best
for smaller and simpler projects , hence technical projects cause the project manager
to cause the project to become derailed in the details. In addition, EVM does not
reveal the whole story on assessing the project and may not gingerly represent what
is essential for a project to achieve specific operations. Most importantly, EVM does
16. not cater for quality control, hence without the right vision and support , the project
can be completed on time and within the budget but still may turn out to be the most
ineffective product ever made.