BA 341 20th Edition Lecture 20 Outline of Last Lecture I. A ProjectII. Characteristics of a ProjectIII. Main Project Objectives IV. The Project ManagerV. Project SchedulingVI. Work Breakdown StructureOutline of Current Lecture VII. Precedence TableVIII. Gantt ChartIX. Project Network DiagramX. Sensitivity AnalysisXI. PERTCurrent LectureProject Scheduling An example of a Precedence table- Producing a documentary DVD-These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.One popular scheduling approach is the Gantt chart- Planning charts used to schedule resources and allocate time - Example of a Gantt table -Common Formats for Project Schedules- Project Network Diagrams-Finding Project Duration using Network Diagram- One alternative is to identify all possible paths through the project- Project duration is given by the longest path (critical path)-- Using the Critical Path Method – a project management technique that uses only one time factor per activity-- Earliest Start (ES) – earliest time at which an activity can start, assuming all predecessors have been completed - Earliest Finish (EF) – Earliest time at which an activity can be finished- Latest Start (LS) – latest time at which an activity can start so as to not delay the completion time of an entire project- Latest Finish (LF) – latest time by which an activity has to finish so as to not delay the completion time of the entire project- Slack time – free time for an activity, also referred to as free float or free slack. Slack=LS-Es=LF-EF-Sensitivity Analysis- Assuming that all activities start at their earliest times, find the impact on project scheduling if:o Activity C takes 7 days? Activity C has 5 days slack and using 2 more days (7-5=2) to complete it will not delay the project (as 2 less than the slack)o Activity G is delayed to 9 days? Activity G is on the critical path (G is a critical activity). Any delay in a critical activity will delay the project.o Activity D now takes 8 days? Activity D takes 1 more day (8-7=1). Its slack is 1 day. Using the whole slack is ok, it will not delay the project. Though now the project has 2 critical paths (the path A->D->G takes 23 days) and managing it is getting harder. (Note: if you go over the allowable slack it will delay the whole project.)Estimating Task Duration- CPM assumes durations are deterministic- Is this realistic?- How is it done in practice?o Do your normal cautious estimating o Add a generous safety margino Then…double it!!Program Evaluation and Review Technique (PERT)- Similar to CPM but able to incorporate duration uncertainty- A project management technique that employs three times estimates for each activity- Let, for each project tasko a = optimistic time estimateo b = pessimistic time estimateo m = most likely time estimate- Then, compute for each project tasko ET (Expected Time) = (a + 4m + b)/6o σ2 (Variance) = ((b-a)/6)2- Back to the DVD projecto Using
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