Project Management

Project Management

The application of knowledge, skills, tools and techniques to project activities to meet the project requirements

Project management scheduling techniques

PERT Charts, Critical Path Method, Gantt Charts

Organizations that undervalue Project management report

50% project failure

Does project management ensure that projects are completed n time?

Yes, within budget and with high quality.

Project management is crucial as it provides…

structured approach to achieving organizational goals

What are the 3 phases of project management?

Planning, Scheduling, Controlling

What is WBS

Work Breakdown Structures

Work Breakdown structures (WBS)

A project broken down into smaller, manageable pieces

Why Use a work breakdown structure?

Define dependencies, categoeize work, establish timeline, produce a statement of work (SOW), assign roles, estimate cost

Scheduling techniques

PERT, CPM, PERT + CPM, Gantt Charts

PERT (Program Evaluation Review Technique)

A method of analyzing a project’s tasks, focusing on the time needed to complete each task

PERT uses _ _____ estimates to define __

3 time estimates to define an expected time estimate

3 time estimates (OMP)

Optimisitc, Most-Likely, Pessimistic

E.T Formula

A + n m + b / avg # of components you’re adding up (6 would come from A + B and then n so if n was 4 then 6

PERT Scheduling shows

IF tasks must be completed in order or if they can be completed simultaneously

Is PERT frequently combiend with Critical Path Method?

Yes

Critical Path Method

Scheduling technique to map the sequence of scheduled activities that determines the duration of the project (critical path)

Critical Path is the ____ path taken

longest

Total project duration is the

sum of the individual duration of the critical path activities

T OR F: More tasks in a path does not necessarily mean its the critical path

True