7793457 Project Management Presentation 2008

8/9/2019 7793457 Project Management Presentation 2008

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Project Management

GN Jayanthy

[email protected]


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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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7793457 Project Management Presentation 2008