Network Techniques correct answers --PERT (Program Evaluation and Review Technique) Mostly used for R&D projects/more D
--CPM (Critical Path Method)/ mostly for construction projects
Originally, PERT was strictly oriented to the time element of projects and used probabilistic activity time es...
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Network Techniques correct answers --PERT (Program Evaluation and Review Technique) Mostly used for R&D projects/more D
--CPM (Critical Path Method)/ mostly for construction projects
Originally, PERT was strictly oriented to the time element of projects and used probabilistic activity time estimates to aid in determining the probability that a project could be completed by some given date. CPM, on the other hand, used deterministic activity time estimates and was designed to control both the time and cost aspects of a project, in particular, time/cost trade-offs.
Gantt (Bars) Charts correct answers Oldest method of presenting project schedule information. Shows planned and actual progress for a number of tasks displayed as bars against a horizontal time scale.
--helps decide where to allocate resources
--More useful to demonstrate senior management progress of project than managing project//
Calculating Activity Times correct answers it is vital to good project management to be meticulously honest
Found by using the three time estimates (optimistic, pessimistic, and most likely). These are an expression of the risk associated with the time required for each activity. Formula: TE = (a + 4m + b)/6
Variance == ((b-a)/6)^2
Precedence Diagramming correct answers --an AON network method that easily allows for leads
and lags within the network. E.g. the following restrictions:
Finish to Start - Activity 2 must NOT start before Activity 1 has completed
Start to Start - An activity can not begin until its predecessor has been underway for a specified amount of days.
Finish to Finish - A predecessor activity must be complete before a specified amount of days before the successor activity can be completed.
Start to Finish - An activity cannot be completed before a specified amount of days after the begin of the predecessor activity.
Differences between CPM and PERT correct answers PERT is typically used to manage the uncertain activities within a project, which is why it often works well in research-based environments where the outcomes are uncertain. CPM, on the other hand, is used to oversee the well-defined activities of a project. PERT works best for jobs or activities that are non-repetitive in nature, whereas CPM is the opposite. It is typically best for repetitive jobs where the outcome or result is predictable or known.
CPM and PERT both treat time and cost differently. In PERT, time is the major factor that is controlled and monitored. Cost is not considered. CPM is a method that controls both time and cost and evaluates the time-cost trade-off for activities within the project. Unlike PERT, CPM provides only a one-time estimate, which is possible because CPM deals with activities that are repetitive in nature and have known outcomes
Uncertainty of Project Completion Time correct answers When discussing project completion dates with senior management, the PM should try to determine the probability that a project will be completed by the suggested deadline—
Chapter 9 - Resource Allocation correct answers Crashing a Project correct answers Crashing a project means to throw additional resources at the critical path without necessarily getting the highest level of efficiency
To speed up, or expedite a project
Of course, the resources to do this must be available
Crunching a project changes the schedule for all activities
Crunching a project often introduces unanticipated problems
Using additional resources does not always guarantee better results
Reducing critical activities completion time
Time and costs are interrelated
Faster an activity is completed, more is the cost
Change the schedule and you change the budget
Thus many activities can be speeded up by spending more money
This will have an impact on schedules for all the subcontractors
Fast-Tracking correct answers Overlapping the design and build phases of project
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