omis 430 — 17

What is a project

A. a unique one time operation designed to accomplish a specific set of objectives in a limited time frame (ex: producing a movie, erp implementation, olympic games)

(unique one time operation made to complete a specific set of goals in a limited time frame)

what is project management?

the process of planning, organizing and managing resources to achieve a projects goals. responsible for success + failure and managing work, hr, communications, quality, time and costs

Work Breakdown structure (WBS) definition

a hierarchical listing of what must be done during a project; establishes a logical framework for identifying the required activities (identify; major elements, supporting activities, make a list)

know the network planning models: critical path method and time cost model

a. shows tasks and their order (dependencies) in a project. critical path method = longest sequence/order of tasks and cannot be delayed, helps to manage project time efficiently

b. analyzes trade off between project duration and cost. crash = finish project faster by spending more $. helps manage cost vs schedule

network diagram

AOA what is Activity on Arrow

AON what is Activity on Node

diagram of project activities that show sequence and relationships using arrows and nodes

Activity on Arrow = arrows = activities

Activity on Node = nodes = activities

AON (activities = take time & events = mark start/end)

cpm draw diagram, calculate all times (exp completion time, early time, late time),identify critical path and slack (times and activities)

do it!

time cost model (crashing)— be able to crash a project, determine the time and cost changes

do it!