Critical Path Analysis (CPA) Operational resources are expensive and the most expensive resource is that which is unused or underused – unused stocks take up space and working capital; machinery left idle wastes capital and can require protective maintenance; labor waiting for supplies to arrive will add unnecessarily to the wages bill. Efficient firms will always aim to use their resources as intensively as possible and avoid wasted time and idle assets. Keeping assets busy is not always as easy
Premium Project management Critical path method Gantt chart
Nightingale – A 1. Will the project as planned meet the October 25thdeadline? No‚ the project as planned actually reach end on 21st December2010. 2.What activities lie on the critical path? There are 15 critical activities in this network as below:-a.Architectural decisionsb.Feature specificationsc.Databased.Review designe.Integrationf.Procure prototype componentsg.Assemble prototypesh.Lab test prototypesi.Field test prototypes j.Adjust designk.Order stock partsl.Assemble first production
Premium Critical path method Project management Gantt chart
running a political campaign. They all involves tremendous amount of planning‚ preparation‚ and co-coordinating work that needs to be done. Projects may involve considerable costs. Some have a long time horizon‚ and some involves a large number of activities that must be carefully planned and coordinated. To accomplish this‚ goal must be established and priorities set. Task must be identified and time estimate made. Resource requirement must be projected and budget prepared. Progress must be monitored
Premium Project management Critical path method
terms: best-case estimate‚ probable-case estimate‚ and worst- case estimate‚ and describe how project managers use these concepts. How does a project manager calculate start and finish times? What is a critical path‚ and why is it important to project managers? How do you identify the critical path? What are some project reporting and communication techniques? What is risk management‚ and why is it important? ------ In Poor Richard’s Almanac‚ Benjamin Franklin penned the familiar lines: “For
Premium Project management
evaluation and review technique (PERT) is a technique adopted by organizations to analyze and represent the activity in a project‚ and to illustrate the flow of events in a project. PERT is a method to evaluate and estimate the time required to complete a task within deadlines. PERT serves as an management tool to analyze‚ define and integrate events. PERT also illustrates the activities and interdependencies in a project. The main goal of PERT is to reduce the cost and time needed to complete
Premium Critical path method Evaluation Project management
Crash Task on critical path We are confronted with having to reduce the scheduled complete time of a project to meet a deadline. The project duration can be reduced by applying more resources like more labor‚ additional equipment‚ and working overtime hours to complete the project. After observing the MSP timeline‚ we selected the most critical tasks for the project: Framing 14-16 Floors Steel Framing Concrete Flooring 7-16 Rough-Ins Utilities Finishes Furnishings Closing In considering
Premium Floor Activity Road
of Quantitative techniques 14-17. Decision tree Diagram parts 18-23. Steps of the CPM of project planning 24-25. Two possible ways of representing activity in Network Planning Techniques 26-30. Parts of project network 31-32. Two project management techniques 33-36. 4 situations in network diagram 37-40. 4 Events in History Critical Path Method (CPM) Answers: 1. Formulating the problem 2. Defining decision variable and constraints 3. Developing suitable model
Premium Project management Critical path method
Consider critical analysis as a project planning tool. Can you think of circumstances in which this would not be a good tool to use on a project? Introduction As firms begin to realize the need to improve on their project management capabilities‚ many companies and software developers have charged to fill this need by offering tools and techniques for a variety of projects. Some are tools for portfolio management‚ and some focus on particular disciplines within the project management field. Tools
Premium Management Project management Risk
Critical Appraisal of Learning and Teaching Activities Introduction A common view of L1 should be used as less as possible in English-language classroom. However‚ there is not any criteria about in which situations teachers can use L1 in English class and how much they can use in L1. Within the classroom‚ students share different characteristics and different levels of English. If the L2 are used in the whole class‚ it is inevitable for students who can not understand the teachers in some degrees
Premium English language Education Learning
Critical Thinking Questions 6.1 Identify the steps involved in computing the future value when you have multiple cash flows. First‚ prepare a time line to identify the size and timing of the cash flows. Second‚ calculate the present value of each individual cash flow using an appropriate discount rate. Finally‚ add up the present values of the individual cash flows to obtain the present value of a cash flow stream. This approach is especially useful in the real world where the cash flows for each
Premium Compound interest Net present value Rate of return