This document discusses various project management tools such as PERT, CPM, and budgets that can be used by intrapreneurs. It provides an overview of what each tool is, including how CPM is used to identify the critical path of a project's activities. It also discusses how PERT differs from CPM in that it provides estimated timelines. Budgets are also covered, including types like cash budgets and how budgetary control systems work. Flexible and zero-based budgeting are defined.

3. What is CPM ? Critical Path Method = here we try to identify the critical path for completion of a project. Cricial = very important When we are implementing a project, we are doing a series of activities, which are called project. There are many ways to do a project. In CPM, we try to pick up the path which consists of all the activities which cannot be delayed. This path requires greater attention.

4. Why is CPM more important ? If an activity is on CPM, it cannot be delayed. Other activities can be delayed, but the activities on CPM cannot be delayed. Delay of one day will delay the project.

5. What is SLACK? You can delay other activities (other than Critical Path activities ). thus there is slack (means you can delay some activities ). Slack denotes flexibility / freedom / ease on the part of those implementing the project

6. What is PERT ? PERT = programme evaluation and review technique Here we try to look at each activity and try to find out expected time to complete the project.

7. What is the difference between PERT & CPM? PERT gives us the best possible estimate of doing the project ( in time). CPM tells us about activities which are critical (delay in these activities will delay the project

30. What are the dangers of budgeting ? It creates inflexibility There is a possibility of over or under budgeting (both the situation create problems) budget creates rigidity Budgets takes away attention from main objectives People give more importance to budget (not to the ultimate goals of the organisation ).

31. Effective budgeting ? The budget should be related to the goals of the organisation. Budget should be able to link the performance to the mission and vision of the organisation There should be flexible budgeting budget should be formulated by employee participation Budget should be actually implemented Budget limiting factors must be specified

32. How else can control be maintained ? Personal observation Guidance Feedback Statistical Data analysis Ratio analysis Break Even Analysis Analysis of financial data