Overseeing Ventures.


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What is a Project?. A venture has a novel purposeA task is temporaryA undertaking requires resourcesA venture ought to have an essential backer or customerA venture includes instability. What is Project Management?. The use of learning, abilities, apparatuses, and strategies to venture exercises keeping in mind the end goal to meet task necessities.
Transcripts
Slide 1

Overseeing Projects Chapter 10

Slide 2

What is a Project? A venture has an interesting reason A venture is transitory A venture requires assets A venture ought to have an essential support or client A venture includes vulnerability

Slide 3

What is Project Management? The utilization of learning, abilities, instruments, and systems to venture exercises keeping in mind the end goal to meet venture prerequisites

Slide 4

Benefits of Project Management Better coordination among utilitarian territories Ensure that undertakings are finished notwithstanding when there is work force turnover Minimize the requirement for consistent reporting Identification of reasonable time restrains Early distinguishing proof of issues Improved assessing capacity Easier to screen achievement

Slide 5

Measures of Project Success Completed on-time Completed inside spending Delivery of required determinations Acceptance by client Minimum number of degree changes (change orders)

Slide 6

What do Project Manager do? Deal with the general population and assets important to meet degree, time, cost, and quality objectives Reinforce fervor in the venture Manage strife Empower colleagues Encourage hazard taking and innovativeness Communicate the advance of the group with chiefs and clients

Slide 7

Building the Project Team Forming Storming Norming Performing

Slide 8

Quantitative Tools Gantt Charts Project Network Diagram PERT utilizations AON (Activity on Node) philosophy Many programming programs (i.e., MS Project) utilize boxes and bolts to show exercises

Slide 9

Quantitative Analyses Constructing PERT outlines and examining the basic way Developing cost-time exchange off slants Incorporating vulnerability into action times

Slide 10

Constructing PERT Diagrams Baking a Cake Example

Slide 11

PERT C 5 G 60 H 5 A 1 B 8 D 5 E 1 F 30 Note: * Notation speaks to the action code and the normal length (t) * Critical Path = A-B-D-E-F-G-H = 110 minutes

Slide 12

Notation for Critical Path Analysis

Slide 13

PERT ES = 9 EF = 9+5=14 Begin at 1 st movement and make ES = 0 ES = 45 (bigger of 45, 14) EF = 105 ES = 0 EF = 0+1=1 C 5 G 60 H 5 A 1 B 8 ES = 105 EF = 110 ES = 1 EF = 1+8=9 D 5 E 1 F 30 ES = 15 EF = 45 ES = 9 EF = 9+5=14 ES = 14 EF = 15 ES = EF forerunner (if more than 1 EF ancestor then utilize the biggest esteem) EF = ES + t

Slide 14

PERT LS = 40 LF = 45 LS = (105-60)=45 LF = LS successor =105 LS = 0 LF = 1 C 5 G 60 H 5 A 1 B 8 LS = 1 LF = 9 (littler of 40, 9) D 5 E 1 F 30 LS = 9 LF = 14 LS = 15 LF = 45 LS = 14 LF = 15 LS = (LF-t) =(110-5)=105 LF = EF = 110 Begin finally action and make LF=EF = 110 LF = LS successor (If more than 1 LF = LS successor then utilize the littlest esteem) LS = LF-t

Slide 15

PERT Total Slack (TS) = LS-ES or LF-EF Activities that have zero slack are basic, which means they can\'t be deferred without postponing the venture fulfillment time

Slide 16

Gantt Chart See either: Demonstration in MS Project Hardcopy dispersed in class

Slide 17

Project Network Diagram (delivered by MS Project) See either: Demonstration in MS Project Hardcopy disseminated in class

Slide 18

Tennis Tournament Example

Slide 19

Tennis Tournament Example PERT Possible ways: A-C-D-G-I-J (16), A-C-F-H-J (12), A-C-E-I-J (20), A-C-E-H-J (18), B-F-H-J (15) Critical way = A-C-E-I-J (20)

Slide 20

Tennis Tournament Example PERT

Slide 21

Gantt Chart See either: Demonstration in MS Project Figure 10.8 in course reading

Slide 22

Project Network Diagram (created by MS Project) See either: Demonstration in MS Project Figure 10.9 in course book

Slide 23

Trades-Offs Cost and Time Cost and time are conversely related As time to finish a venture goes down, expenses for the venture go up As time goes up, expenses go down

Slide 24

Project Costs

Slide 25

Activity Crashing An action is thought to be "slammed" when it is finished in less time than is ordinary by applying extra work or hardware

Slide 26

Determining the Impact of Activity Crashing To decide the effect of action smashing start by recognizing the Expedite-Cost Slope for every action To do this, a director must distinguish "typical" and "crash" time and cost gauges

Slide 27

Tennis Tournament Example Cost and Time Estimates *Slope = Crash Cost – Regular Cost (15 – 5) = 10 = 10 Normal Duration – Crash Duration (2 – 1) 1

Slide 28

Activity Cost-Time Trade-off (Activity Code E) Activity E: Normal Time = 10, Crash Time = 6, Normal Cost = $20, Crash Cost = $40)

Slide 29

Incorporating Uncertainty into Activity Times When a supervisor is uncertain of the action term times, he/she needs to gauge action times utilizing a Beta appropriation The Beta circulation permits the administrator to build up a plausible scope of times in which the action time will fall

Slide 30

Beta Distribution of Activity Duration

Slide 31

Beta Distribution Time Estimates Optimistic Time (A) – action span if no issues happen Most Likely Time (M) – action span that is well on the way to happen Pessimistic Time (B) – action length if unprecedented issues emerge

Slide 32

Formulas Activity time (t) = (A + 4M + B)/6 Standard deviation ( σ ) = (B - A)/6 Variance ( σ 2 ) = (B – A) 2/36

Slide 33

Assessing Probability Tennis Tournament Example Let\'s say we plan to start the tennis competition extend on October 25 th and plan to have it finished inside 24 days (November 18 th ) in light of the fact that the tennis stadium is reserved after that. As a director, you have evaluated the hopeful, no doubt, and cynical times for every action Now you need to discover the likelihood that you will have the capacity to complete the venture in 24 days

Slide 34

Time Estimates Tennis Tournament Example

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Time Estimates – Critical Path Tennis Tournament Example ∑t = 2.00 + 3.00 + 10.00 + 3.00 + 2.00 = 20 days ∑ σ 2 = 0.11 + 0.11 + 4.00 + 1.00 + 0.00 = 5.22 days ∑ σ = 0.33 + 0.33 + 2.00 + 1.00 + 0.00 = 3.66

Slide 36

Building Time Distribution Tennis Tournament Example Z = (X – μ )/σ Z = (24 – 20)/√5.22 Z = 1.75 Z Table (p. 579 of course book) demonstrates that a Z estimation of 1.75 alludes to a likelihood of (0.5000 – 0.4599)= 0.0401 or .04 Therefore, there is a 4% likelihood that the venture would not be finished in 24 days

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