Project - 2
Project - 2
Management
Introduction
Significance
The Program Evaluation and Review Technique (PERT), on the other hand,
introduces probabilistic elements into project scheduling. Unlike CPM's single-point
estimates, PERT employs three time estimates for each activity: optimistic, most likely,
and pessimistic. This three-point estimation approach acknowledges the inherent
uncertainty in project activities and provides a more realistic assessment of project
timelines. PERT's statistical approach enables project managers to calculate expected
completion times and assess the probability of meeting specific project deadlines, making
it particularly valuable for projects with significant uncertainties or those being undertaken
for the first time.
Approach:
Define Activities and Durations: The project was broken down into tasks like foundation
work, structure building, plumbing, electrical wiring, and finishing touches. Each activity
had a fixed, predictable time duration based on past projects.
Network Diagram Creation: Using CPM, the project team created a network diagram
with each task represented as a node and dependencies between them as links.
Critical Path Identification: The CPM analysis identified the longest path of activities,
which was crucial for keeping the project on track. Activities like foundation and structural
building were on the critical path.
Challenges Addressed:
The CPM method helped the team prioritize tasks on the critical path. When a delay was
observed in a critical path task, resources were reallocated to prevent time overruns.
Outcome:
The project completed within the scheduled timeline by closely monitoring critical path
tasks and adjusting resources as needed.
Key Learning:
CPM proved to be effective in a project with fixed activity durations, helping the team
manage time and resources efficiently and handle minor delays without jeopardizing
project deadlines.
Approach:
Define Activities with Uncertain Durations: The project tasks included research and
design, prototype development, testing, and market launch. Durations for these activities
were unpredictable, especially for tasks like R&D and testing, where unforeseen issues
might arise.
Three-Point Estimates: PERT was used with optimistic, most likely, and pessimistic
estimates to calculate an expected duration for each task, considering possible delays.
Network Diagram Creation and Critical Path Identification: A network diagram was
developed with PERT, and the critical path was determined based on expected times.
Challenges Addressed:
The probabilistic approach of PERT allowed the project team to model potential delays,
assess completion probability, and proactively prepare for risks. For example, testing was
on the critical path and showed a high likelihood of delays, prompting the team to allocate
extra resources for it.
Outcome:
The project was delivered on time, with most of the delays occurring in the R&D phase.
By preparing for potential delays, the team successfully launched the product within the
timeline.
Key Learning:
Comparative Insights
CPM worked well in the construction project because task durations were predictable,
allowing the team to focus on managing the critical path for timely completion.
Durations: Each edge label indicates the task duration in days (e.g., Foundation = 10
days).
Probabilistic Durations: Edge labels show expected durations based on PERT estimates
(e.g., Testing = 10 days).
Foundation 10 Start
Structure 4 Foundation
Electrical 5 Structure
Plumbing 3 Structure
Most Expected
Optimistic Pessimistic
Task Likely Duration Predecessor(s)
Duration Duration
Duration (Days)
Design 3 5 7 5 Start
Prototype 5 7 9 7 Design
Testing 8 10 12 10 Prototype
Launch 1 2 3 2 Testing
Modern Methodologies Integration
• Sprint Integration:
• Hybrid Approaches:
• Key Features:
Risk management forms an integral part of modern network scheduling, enabling proactive
project control and uncertainty management.
• Network Analysis:
• Risk Quantification:
Response Strategies:
• Preventive Measures:
• Analysis Methods:
• Optimization Strategies:
- Multi-project balancing
• Priority Setting:
• Performance Monitoring:
- Utilization tracking
- Efficiency metrics
- Reallocation triggers
Cost-Schedule Integration:
• Analysis Components:
• Performance Metrics:
Implementation Framework:
• Initial Setup:
• Monitoring Process:
- Variance analysis
Technological Integration:
• Artificial Intelligence:
• Emerging Technologies:
Methodological Advances:
• Analysis Techniques:
• Integration Approaches:
- Cross-platform compatibility
- Cloud-based collaboration
Implementation Process:
• Preparation Phase:
- Methodology selection
• Execution Steps:
• Control Measures:
• Continuous Improvement:
- Process refinement
Conclusion
Looking ahead, network scheduling techniques will continue to evolve, driven by:
The future of project management lies in the balanced application of these techniques,
combining the structured approach of network scheduling with the flexibility demanded by
modern business environments. The evidence presented through case studies and
practical applications demonstrates that network scheduling techniques remain essential
tools in the project manager's arsenal, providing the foundation for successful project
delivery while adapting to meet contemporary challenges. As projects continue to grow in
complexity and scope, the principles of network scheduling will remain fundamental to
effective project management, evolving through technological advancement while
maintaining their core value in ensuring project success.