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CHAPTER 4: PROJECT - Coggle Diagram
CHAPTER 4: PROJECT
1. Project Management
Project Management
Project management
is planning, directing, and controlling resources (people, equipment, material, etc.) to meet the technical, cost, and time constraints of the project.
Why is it important?
- At the highest levels of an organization, management often involves juggling a portfolio of projects
Project
is a series of related jobs, usually directed toward some major output and requiring a significant period of time to perform
Organizing Project Task
Task
: A further subdivision of a project
Work package
: A group of activities combined to be assignable to a single organizational unit
Statement of Work
: A written description of the objectives to be achieved
Project Milestone
: Specific events in the life of the project
Work Breakdown Structure
: Defines the hierarchy of project tasks, subtasks, and work packages
Activities
: Pieces of work that consume time
Project Structure
Functional Project
is responsible for the project that lies within one functional area of the firm. Employees from that area work on the project, usually only part-time
Matrix Project
is a blend of pure and functional project structures – people from different functional areas work on the project, possibly only part-time.
Pure Project
is a self-contained team that works full-time on the project.
2. Network-Planning Models
CPM with Three Activity Time Estimates
Three values
Maximum
Most likely
Minimum
This allows calculation of a probability estimate of completion time.
This is the distinguishing characteristic of the
PERT method
.
ET = (a+4m+b)/6
Phương sai^2 = [(b-a)/6]^2
Time–Cost Models and Project Crashing
Time–Cost Models
extend the CPM model to consider the trade-off between time required to complete an activity and total project cost.
Project Crashing
Determine the cost per unit of time (assume days) to expedite each activity.
Compute the critical path.
Shorten the critical path at the least cost.
Plot project direct, indirect, and total-cost curves and find the minimum-cost schedule.
Prepare a CPM-type network diagram.
Critical Path Method (CPM)
Determine the required sequence of activities and construct a network reflecting the precedence relationships.
Identify each activity to be done in the project and estimate how long it will take to complete each activity.
Determine the critical path.
Determine the early start/finish and late start/finish schedule.
Early start schedule
- A project schedule that lists all activities by their early start times.
Late start schedule
- A project schedule that lists all activities by their late start times. This schedule may create savings by postponing purchases of material and other costs associated with the project
3. Managing Projects
Project Control Charts
:
Charts and various types of standard forms are useful because their visual presentations are easily understood.
Are often augmented with standard reports that give a detailed analysis of the work completed together with what is left to be done.
EVM
Earned value management (EVM)
is a technique for measuring project progress in an objective manner.
Essential features of any EVM implementation
A valuation of each activity work.
Predefined earning or costing rules to quantify the accomplishment of work.
A project plan that identifies the activities to be accomplished.
Project Tracking with EVM
- EVM provides information about performance according to the schedule.
Project Tracking without EVM
- A simple comparison of just costs versus budget
4. Project Management Information Systems
Microsoft
, with
Microsoft Project
- comes with an excellent online tutorial.
Primavera
, with
Primavera Project Planner
- For managing very large projects or programs having several projects.