QUANTITATIVE TECHNIQUES MIDTERM EXAMINTION SECTION: TE203 Enumeration Questions: 1-7. Methodology of Quantitative Techniques 8-10. Three Types of Decision Making 11-13. Benefits 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…
What is project management, and what are its main objectives? What is the relationship between tasks and events, or milestones? What is a work breakdown structure? How do you create one? What are task patterns, and how can you recognize them? Compare the advantages and disadvantages of Gantt and PERT/CPM charts. Define the following 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…
CPM - Critical Path Method In 1957, DuPont developed a project management method designed to address the challenge of shutting down chemical plants for maintenance and then restarting the plants once the maintenance had been completed. Given the complexity of the process, they developed the Critical Path Method (CPM) for managing such projects. CPM provides the following benefits: Provides a graphical view of the project. Predicts the time required to complete the project. Shows which…
in 18 days or shorter. Using PERT or Project Evaluation and Review Technique method, we are required to show the solution regarding this case. Program 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…
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…
UNCERTAINTY AND PROJECT MANAGEMENT: BEYOND THE CRITICAL PATH MENTALITY Arnoud De Meyer1), Christoph H. Loch2), Michael T. Pich3) 1) Professor of Technology Management, INSEAD (arnoud.de.meyer@insead.edu.sg) 2) Associate Professor of Technology Management, INSEAD (christoph.loch@insead.fr) 3) Assistant Professor of Technology Management, INSEAD (michael.pich@insead.edu.sg) Keywords: project management, uncertainty, project profiles Abstract Project management is often identified…
Engineering and Management, National Central University, No. 300, Jhongda Rd., Jhongli City, Taoyuan County 32001, Taiwan b R&D Center for Construction Project Management, Chung Hua University, No.707, Sec.2, WuFu Rd., Hsinchu, 300 Taiwan Received 7 February 2010; received in revised form 12 June 2011; accepted 16 June 2011 Abstract Assessing schedule delay 's impact on total project duration to distribute delay liability remains a controversy. None of existing delay analysis methods is perfect because…
Critical Path Analysis (CPA) Critical Path Analysis: A project-management technique that lays out all the activities needed to complete a task, the time it will take to complete each activity and the relationships between the activities. Sets out all the individual activities that make up a larger project. Shows the order in which activities have to be undertaken. Shows which activities can only take place once other activities have been completed. Shows which activities can be undertaken…
PM 7010 – Project Management Techniques I Unit # 1 Individual Assignment # 2 Date: 09/11/2012 Number of Words: 299 Question: It has been argued that “the Project Manager is the most important person involved in a project”. I do not agree with the argument that the Project Manager is the most important person involved in a project. The most important person in a project is a stakeholder. A project is undertaken to create something unique with a beginning and an end, it could be a product…
have decided to use a project management approach to bring the new product on line and have identified eleven activities and their precedence relationship as shown in Table 1. The duration for each activity has been estimated by three times estimates in weeks. They also manage to get information on the normal cost of each activity, their crash time and associated cost, shown in Table 2. You have been appointed by Michael and Elyssa to analyze the data and advise them on the project. You are expected…