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SCM 301 Final Exam Study GuideI. Classes 29-30: Project Management Techniquesa. Project Managementi. Project – a temporary activity consisting of a series of tasks that require completion of a specific timeframeii. Defined start and finish timesiii. Scope and agreed-upon tasks iv. Tasks completed in specific orderv. Tasks consume time, commit personnel resources, and expend budgetvi. Tasks could involve many organizations and take considerable time to complete  they may be difficult to managevii. What’s important? How much time does it take? Etc.viii. Kind of like Kaizen as far as standardization goesix. Example: going home to Philly1. Overall goal: get home2. Tasks: pack a bag, apartment to bus stop, load bus, ride bus, off/unload bus, get in car, ride home, arrive homex. Example 2: build log home1. Overall goal: build log home2. Find land, design house, find general contractor, part delivery to building site, get electricians/plumbers/etc.xi. Making changes is extremely costly!1. Ex: building log home  Sees kept making changes but it just kept making the project more expensive and take a lot longerb. How is Project Success Measured?i. Project management  essential skill for middle managerii. Not difficult to measure successiii. Look at time, quality, and cost to gauge success1. Meet quality, cost, and delivery performance?2. Within budget and time constraint?3. Meet performance/specification requirements?4. Minimal changes  inherit cost when change plan5. Does not negatively impact other organization operations?iv. Structured approach is criticalc. Project Phases (5 Phases)i. Concept – high level project ID, definition & scope  what are we trying to do? Similar to mission statementii. Project definition – how accomplish, organize work; ID responsible organizations, teams, people  how are we going to organize and manage?iii. Planning – detailed activities, milestones, completion dates; budget and time constraints  best way to do somethingiv. Performance – actually carrying out the project and doing the workv. Post completion – project wrap up & confirmation that project met goals/evaluation  analogous to TQM process; sometimes get to this step and project cannot be completed!d. Project Management Toolsi. Popular tools:1. Gantt charts2. Milestone charts3. Project networking toolsa. Critical Path Method (CPM)b. Program Evaluation & Review Technique (PERT)ii. Look at simple thingse. Gantt Chartsi. First formal scheduling technique  used over past 100 yearsii. Bar chart introduced by Henry L. Gantt while working at Frankford Arsenal during WWI1. X-axis – time; Y-axis – task2. Shows planned start and finish dates for activityiii. Conveys information about how project is working in a simple wayiv. Hard to show constraints and how things work togetherv. Easy to evaluate project status/management of individual activitiesvi. Advantages1. Easy to prepare/update2. Easy to understand info3. Inexpensive4. Organized by date5. Easily summarized6. Usual first step for preparation of further complex schedules7. Repetitive work can be used to estimatevii. Disadvantages1. Hard to show dependencies/constraints2. Hard to use with detailed schedule analysis3. Does not show the effects of late or early activity starts4. Doesn’t show relationships between tasks clearly5. Looking at specific periods of time but people tend to underestimate6. Only as reliable as estimates for the tasks7. Doesn’t really show the consequences of alternative actions8. Hard to analyze schedules and optimize the allocation of resourcesviii. Can backwards plan from date needed to be done  do we know how long the project is going to last?ix. Fill in data about tasks  concentrate on start/finish timesx. Identify the project  define project tasks  estimate duration of tasks from start to finish  determine precedence of tasks  chart tasks, precedence, duration1. How long will each take? Take averages, expert opinions, guesses2. Some tasks must occur one after another; others can happen simultaneously xi. Very powerful tool if you can think this wayxii. Example (page 114)1. Process will take at least 18 weeks2. Nothing has to occur before Aa. You could start A at week two and nothing would be affected following it  slack time3. B is a constraint  whole model stripped if fall behind4. A not part of critical path unless goes past week 3a. Won’t affect anything if week 1 is late5. Way to see what’s important as a managera. Multitasking gets difficult once take on 5+ thingsf. Milestone Chartsi. Very closely related to Gantt chartii. Shows planned and actual completion datesiii. Combined with Gantt chart sometimesiv. Can set dates by week and then by dayv. Gives very specific day for tasks to be started and completedvi. Manager can track progress  color code for when task complete/needs to be completedvii. Allows managers to make decisionsg. Network Scheduling Modelsi. Commonly known as Arrow Diagram methodsii. Graphical depiction of the activities involved in a projectiii. Looking at nodes and linksiv. Which is the slowest way to get through a process?v. Shows how activities relate to each othervi. Shows sequence of activitiesvii. Shows precedence and dependencies of activitiesviii. Shows impact of early starts/early finishes OR late starts/late finishesix. Gives info regarding allocation of resourcesx. Allows for “what-if” analysisxi. Critical Path Method (CPM)  spend a lot of time onxii. Program Evaluation and Review Technique (PERT)1. t = (a+4m+b)/62. Meanxiii. PERT and CPM developed by Navyxiv. All about finding the critical pathxv. Decide where to place resources to make sure process works on critical pathxvi. Maybe it’s possible to compress the schedulexvii. Use nodes and links to connect project all the way throughxviii. Must have:1. Defined project activities2. Identifiable start and finish points3. Logic diagram showing sequence and interrelationships of activities4. Accurate time estimate to complete each activityh. Working Critical Path Method (CPM)i. What is the project?ii. Come up with steps and time that each will takeiii. Sequence  construct diagram iv. Critical path is the series of activities along the longest path from start to finishv. Come up with longest node  critical path from start to finish1. Which one’s critical for managers to keep watch for?vi. Complete and annotate cumulative time required to reach each node

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PSU SCM 301 - Final Exam Study Guide

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