Chapter 7 Project Management 7.1 Chapter Questions Use this information to answer the following questions. Consider the following Activity-On-Node (AON) project (activity completion times are in days). 1) Refer to the figure. What is the critical path? A) ABDF B) ABEF C) ACDF D) ACEF E) none of the above Answer: D Page Ref: 280 Topic: Determining the Project Schedule Difficulty: Easy 2) Refer to the figure. How long will take to complete the project? A) 15 days B) 14 days C) 13 days D) 12
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this deadline is too risky. We are presenting two alternatives for carrying out the project in a shorter time frame‚ like working overtime or hiring extra resources. We have mixed the two alternatives so that the tasks that are quality sensitive/critical will be crashed by subcontracting additional resources to avoid employee fatigue that can effect the quality of the work‚ while the tasks that are indivisible or have a learning curve that need to be done by one resource will be crashed by overtime
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program evaluation and review technique and developed to handle uncertain activity times. CMP is critical path method and developed for industrial projects for which activity times generally were known. PERT/CPM help me answer questions such as: what is the total time to complete the project? what are the scheduled start and finish dates for each specific activity? which activities are critical and must be completed exactly as scheduled to the keep the project on schedule? how long noncritical
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Project Management What is a project “Operations Management” is concerned with the transformation of inputs and resources into outputs. The transformation system to be used is dictated by the charateristics of the required inputs and the desired outputs. For instance‚ for mass manufacturing (where outputs and inputs are standardized‚ and products facing high demands are produced in very large quantities)‚ the transformation system may take the form of an “assembly line” (as in automotive
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In the rapidly evolving global marketplace in which outsourcing is ubiquitous‚ organizations need to be vigilant in their management of risk. Enterprise Risk Management (ERM) is a growing paradigm in which business leaders seek to effectively identify‚ mitigate‚ and manage risks across all aspects of the business as a whole. The ERM model classifies business risk into seven distinct‚ but inter-related categories: 1) strategic market risks‚ 2) operating risks‚ 3) finance risks‚ 4) human capital
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ACKNOWLEDGEMENT I. Introduction a. Company Profile b. Organizational Chart c. Project Portfolio d. Problem Definition II. Literature Review e. Project Evaluation and Review Technique f. Critical Path Method III. Data and Analysis - CPM Network - CPM Network (Early Start‚ Early Finish‚ Target Start‚ Target Finish) - CPM Network for Crash Scenario - Table 1.2 - Table 1.3 Time – Cost trade off data for activities IV. Conclusion V
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materials to pull car to Detroit Auto Show. A table containing the project activities‚ the time estimates and the precedence relationship will be prepared and a network diagram will be drawn to structure the immediate predecessor activities. The critical activities will be identified to indicate that the project can be completed within 45 working days. RASAS is consists of three car dealerships and this venture into restoration business still can fit into business. RASAS has noticed that there is
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project management‚ the planning‚ directing and controlling resources to meet the technical‚ cost‚ and time constraints of a project are crucial to success! Some of the tools used to determine these constraints include networking and determining the critical path of a project‚ which is the sequence of activities that forms the longest chain in terms of time to complete. Not until these sequences have been determined can analysts and managers see the effect of various elements on an entire project as seen
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results resource-wise‚ leveling resources often results in pushing out the end-date of a project. In most cases‚ that is the extreme outcome. Another risk that bears its head when slack is reduced‚ is loss of flexibility which equates to an increase in critical activities. Without slack anywhere in a project network‚ ALL activities become
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The process of predicting future environmental happening that will influence the operation of the organization Types of forecasting Qualitative Methods Jury of Executive opinion method Various experts within the company exchange info regarding what they believe will happen Sales Force Estimation Method Sales forecasting technique that predicts future sales by analyzing the opinions of
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