PROGRAM EVALUATION AND REVIEW TECHNIQUE (PERT) Category: Planning/ Monitoring - Control ABSTRACT Program (Project) Evaluation and Review Technique (PERT)(G) is a project management tool used to schedule‚ organize‚ and coordinate tasks within a project. It is basically a method to analyze the tasks involved in completing a given project‚ especially the time needed to complete each task‚ and to identify the minimum time needed to complete the total project. PERT planning involves the following steps:
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methods for presenting technical and cost data to customer” The most common scheduling techniques are: Gantt or bar charts Milestone charts Line of balance Network schedules: a. Program Evaluation review technique (PERT) b. Critical Path Method (CPM) c. Precedence diagram method (PDM) d. Graphical Evaluation and
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technique (PERT and the critical path method (CPM are two PERT) CPM) popular quantitative analysis techniques to help plan‚ schedule‚ monitor‚ and control projects Originally the approaches differed in how they estimated activity times PERT used three time estimates to develop a probabilistic estimate of completion time CPM was a more deterministic technique They have become so similar they are commonly considered one technique‚ PERT/CPM Six Steps of PERT/CPM 1. Define the project
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and (2) to assess its capabilities to meet the contractual requirement before bidding. SPSS can also be used by a construction owner to quantify and analyze the risks involved in the schedule. The benefits of the tool to researchers are (1) to solve PERT problems; (2) to complement Monte Carlo simulation by applying the concept of project network modeling and scheduling with probabilistic and stochastic activities via a web based Java Simulation which is operateable over the Internet‚ and (3) to open
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4.Activities (or “work packages”) to be completed Project Controlling: Close monitoring of Resources‚ Costs‚ Quality‚ Budgets. Feedback enables revising the Project Plan and Shift Resources. Computerized tools produce extensive reports Six Steps PERT & CPM: 1. Define the Project and prepare the Work Breakdown Structure 2. Develop relationships among the activities - decide which activities must precede and which must follow others 3. Draw the network connecting all of the activities 4. Assign Time
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Sub: Quantitative Techniques in Management 1) Answer any Sixteen 1. What is a linear programming problem? Discuss the scope and role of linear programming in solving management problems. Discuss and describe the role of linear programming in managerial decision-making bringing out limitations‚ if any. 2. Explain the concept and computational steps of the simplex method for solving linear programming problems. How would you identify whether an optimal solution to a problem obtained using simplex
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to ensure it stays on time and budget. Once implemented‚ Walmart needs to continue to monitor the project for quality and performance. Walmart should use a CPM/PERT system to schedule the project implementation steps and monitor the progress of the implementation and performance of the service (Russell & Taylor‚ 2017‚ p. 374). A CPM/PERT will help Walmart’s project manager keep appraised of the project and give warning when risk or problems arise that could jeopardize the financial viability of
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without influencing the start of another activities. Other project management systems. In response to the limitations of Gantt charts‚ two other scheduling control systems were developed in the 1950’s. These systems are known as Critical Path Methods (CPM) and Program Evaluation and Review Techniques
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and functional conflicts? (10) b) What would be the possible reasons for the failure of a project? Narrate along with possible remedies for these failures. (10) Q. 3 Discuss in detail with examples: (4+4+4+4+4) a) Slack time b) PERT c) Cost Account Codes d) Essentials of Material Accounting Criterion e) EVALUATION OF PROJECT MANAGEMENT SOFTWARE IN TERMS OF PERFORMANCE Q. 4 (a) Discuss the essentials of pricing strategies in context of project management. (10)
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What is a linear programming problem? Discuss the scope and role of linear programming in solving management problems. Discuss and describe the role of linear programming in managerial decision-making bringing out limitations‚ if any. 2. Explain the concept and computational steps of the simplex method for solving linear programming problems. How would you identify whether an optimal solution to a problem obtained using simplex algorithm is unique or not? a) What is the difference between a
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