MANAGING PROJECTS ASSIGNMENT NO TASK 1 By XYZ ID: 000000 Management of Projects Name of Professor University TABLE OF CONTENTS Section Title Page 1. Network diagram (using activity on node the node) 1 2. Timings of the Activities and Total Float 2 3…
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Network Diagram (Activity on Node) 1 2. Network Diagram (Activity B is delayed by one day) 6 3. Network Diagram (Activity P is delayed by one day) 7 4. Network Diagram (Activity O is delayed three days) 8 LIST OF TABLES Table Title Page 1 Project Completion Date 4 Task 1 1. Network diagram (using activity on node the node) (Gido & Clement 2008) 2. Timings of the Activities and Total Float It was essential to estimate the duration and sequence of activities before a network diagram could be established to calculate the total float. For this purpose, information on amount of work and number of wok periods, types and quantities of resources and their availability was important. According to (PMBOK, 2004), a better way of handling this information is by using a project calendar and an alternative resource calendar. To estimate duration of each activity, list of all activities, duration estimating databases and other historical reference data which may be commercially available, project calendar from organization process assets, constraints and assumptions from the project scope statement that may impact amount and duration of work, estimates of resource requirements for each activity; human resources and material and equipment requirements are critical inputs to the process of estimating activity durations (Lock, 2007). Estimation of costs and identification of risks associated with each activity help is determining the activity durations with more accuracy closer to actual. Then from the information gathered above, techniques like parametric estimation, analogous estimation, three point estimation and reserve analysis could be used to more precisely estimate the duration of activities (Lock, 2007). In parametric estimation, a mathematical model based on historical records using regression analysis or learning curve is created when there is no information as to on what basis estimation is to be based. Analogous estimation uses a similar previous activity as basis to estimate the future activity. It is more widely used to estimate project durations rather than duration of a single activity when there is no much information regarding project is available. The probability of completing a project or activity on a single date is too less; therefore, in three point estimating, an optimistic, a pessimistic and most likely estimate is made for each activity and then activity duration is calculated either as average of these three or using a formula. When reasonable estimates of the project activities have been made, then reserve analysis is conducted to cater for risks of time and cost by adding contingency reserve and management reserve. The next process is to sequence activities into how the work would be performed considering their internal and external dependencies. The outcome of this process is a network diagram or a project schedule network diagram. In this report, we have used Precedence Diagramming Method (PDM) or Activity on Node where nodes are used to represent activities and arrows show their dependencies. In our case study, we have used finish to start relationship while constructing the network diagram to show dependencies between the activities. Now to calculate the total float, critical path method was used. Once the duration of activities have been determined, dependencies between activities have been established and network diagram has been created the next step was to calculate the earliest and latest an activity can
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“Managing Projects Essay Example | Topics and Well Written Essays - 2750 Words”, n.d. https://studentshare.org/macro-microeconomics/1426647-managing-projects.
A project is usually a fundamental part of business operations. In the end, it is a temporary task that has a beginning and an ending. Before drawing a network analysis diagram, it is important to know; the start activity, the end activity, which activity or activities precede a certain activity.
The project has be executed within a loan budget of ? 300,000. The Ashleigh Council has awarded the Ashleigh Music Festival Limited (AMF Ltd) the tender to manage the entire music festivals. The Ashleigh Music Festival is a three day event that will be held at an outdoor site which has already been identified.
Project management is a vast area and requires specialized knowledge and expertise of technology and management. Apart from that, to get success the project structure needs to be clearly defined. A project structure is usually the pathway which is followed by a project to reach its goals (Larson and Gray, 2006).
................691 words A. Network diagram for the project can be projected in the following manner. Critical path for the project has been depicted in the network diagram and other important notions such as Latest Finish Time (LFT), Earliest Start Time (EST), Latest Start Time (LST), Earliest Finish Time (EFT) and Total Float (TF) have also been depicted in the network diagram (Burke, 2003).
This has granted Energise Health & Fitness Centre positive experiences within its financial growth due to its dominance as one of the major fitness company’s within United States fitness industry. Energise Health & Fitness Centre’s corporate strategy is capable of handling effectively, the current situation within fitness industry.
Conducting business on an international scale provides these companies with a number of challenges relating to the complexities of different international markets. Global and domestic project management are similar because in a project can not succeed if there no good binding between the team members.
An element of work performed during the course of a project. An activity normally has an expected duration, an expected cost, and expected resource requirement. Activities are often subdivided into tasks. The Project Management Network Diagram (PM Network Diagram) provides a visual illustration of the project management life cycle where all tasks are done in a proper way and a well-organized process1.
Every project involves a set of interrelated activities and has a definite beginning and end. Since every project has many aspects to look after for the attainment of project objective, the need for its proper management was seriously felt long back. The
No organisation operates without a project or activity. The project has to be managed by a well-trained manager who knows how to act in situations that require immediate and precise decisions.
Project management is getting the right things done on time (Larson and
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