BA 341 20th Edition Lecture 20 Outline of Last Lecture I A Project II Characteristics of a Project III Main Project Objectives IV The Project Manager V Project Scheduling VI Work Breakdown Structure Outline of Current Lecture VII Precedence Table VIII Gantt Chart IX Project Network Diagram X Sensitivity Analysis XI PERT Current Lecture Project 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 LSEs 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 margin o 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 task o a optimistic time estimate o b pessimistic time estimate o m most likely time estimate Then compute for each project task o ET Expected Time a 4m b 6 o 2 Variance b a 6 2 Back to the DVD project o Using PERT
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