SIM335 Managing Projects - Essay Example

Summary
Managing Projects Insert Tutor Institution Date Managing Projects Introduction Project management is the art of professional organization of all components of a certain project irrespective of whether the target is to launch a new service or a brand for a particular product…

Extract of sample "SIM335 Managing Projects"

Download file to see previous pages Any concurrent activities, which activity follows which? The network diagram will look as below and boxes represent the following aspects: If activity A has duration of 4 days, earliest start time would be day 0 (zero) and the earliest finish would be day 4. The earliest start for activity B would be day 4 and the earliest finish would be day 9 as a result of adding. Earliest finish of activity A (4) + duration of activity B (5) = 9 early finish for activity B In general, earliest finish of previous activity+ duration of current activity= earliest finish of the current activity. (Early finish for earlier tasks becomes the early the start for next activity). For a case like activity G that has several preceding activities, we take the value, which has the largest earlier finish value (F 13). The latest start and latest finish are determined by working backwards through the project. Latest start for activity Q = earliest finish of activity Q because it is the last activity. In general: Latest start= latest finish– duration The latest start used as the latest finish for the previous activity. For instance, the latest start for activity Q is 93–5= 88 and this is used as the value for latest finish for activity P. for activities like I & J we use the latest start for activity K. for activity H we take the least value for latest start in this case is 34 (latest start for activity I). ...
calculated by: Early finish– early start– duration=Total float For instance, to calculate total float between activities G &H =34–13–(13+8) =0 Critical path is the least amount of time that can be taken to complete the project. This means that there is no float, no free time and a delay in the critical path can lead to a delay in project completion. It can be determined by adding the duration of each activity in the sequence where there is no float. In our case, the critical path is from activity A to Q in the sequence: A(4)+F(9)+G(13)+H(8)+I(7)+K(8)+L(13)+M(9)+N(4)+O(4)+P(9)+Q(5) =93. It is very important as it helps in time scheduling of consecutive activities in a project. Events that occur here are known as milestone (Harold, 2009). If the activity begins on Monday January 16th, the project needs a total of 122 days to finish with a five-day working period then we find out how many weeks we be will need. If one week has a total of 5 working days then the project will take 122?5=24 weeks and four days, then the project will end on Thursday 5th July 2012. In case activity B is delayed by two days, there would be no effect on the total project duration because it has a float of four days. This is however not the case for activities P and O, delaying activity P by two days or activity O by a day will affect the total duration of the project because there is no float for the two activities (Harold, 2009). Limitations of network diagrams The time estimates depend on personal bias, there is no specific formula for determining the duration of the activities and speculation is used. This may affect the whole project just in case any activity is delayed or takes a longer duration to finish. As seen from above, activities without float if delayed for any reason can ...Download file to see next pagesRead More
Cite this document
• APA
• MLA
• CHICAGO
(“SIM335 Managing Projects Essay Example | Topics and Well Written Essays - 2500 words - 1”, n.d.)
(SIM335 Managing Projects Essay Example | Topics and Well Written Essays - 2500 Words - 1)
https://studentshare.org/management/1394123-sim335-managing-projects.
“SIM335 Managing Projects Essay Example | Topics and Well Written Essays - 2500 Words - 1”, n.d. https://studentshare.org/management/1394123-sim335-managing-projects.
Click to create a comment or rate a document

CHECK THESE SAMPLES OF SIM335 Managing Projects

SIM335 Managing Projects

...previously owned just one building from which it operated its business and from which it has been trading with the other companies since 2005. Being a project manager for a one off special project, I have been assigned the task to successfully manage the activities that are needed for perfect execution of this task. The report will be based on personal and prospective recommendations and a proper plan will be presented based on which this project can succeed and can be made feasible within the budget that has been provided. The actual task is concerned with the management of the project according to which the company has...
10 Pages(2500 words)Essay

Managing Projects

...? MANAGING PROJECTS ASSIGNMENT NO TASK By XYZ ID: 000000 Management of Projects 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. Project Duration and Critical Path 3 4. Project Completion Date 4 5. Effects on Project Duration with Activity Delays 5 5.1 Activity B is delayed by one day 6 5.2 Activity P is delayed by one day 7 5.3 Activity O is delayed three days 8 6. Purpose of Network Diagrams 9 LIST OF FIGURES Figure Title Page 1. Network Diagram (Activity on Node) 1 2. Network Diagram (Activity B is delayed by one day) 6 3....
11 Pages(2750 words)Essay

Managing projects

...? Project Management Table of Contents SECTION I 4 Principles of Project Management 4 Success Failure Criteria 5 Benefits of Managing Projects 5 SECTION II 6 Project Initiation Document 6 Project Planning 6 Risk Assessment 7 Communication of Project Plan 7 SECTION III 8 Project Implementation 8 Project Monitoring 8 Contingency Plan 9 SECTION IV 9 Project Evaluation 9 Report to Stakeholders 10 Recommendations 10 References 12 SECTION I Principles of Project Management Project...
6 Pages(1500 words)Essay

Managing Successful Projects

...? Managing successful projects Supervisor; April 23, Managing successful projects Answers to question Standard approaches for managing projects, my preferred approach, and rationale for choosing the approach There are many standard approaches for managing projects and these have been developed at both national and international levels. The “Project Management Body of Knowledge,” also known as the PMBOK, is one of the standard approaches to project management (Zarafani 2011, p. 38). The America’s Project Management Institute developed the approach more than two decades ago but its latest version was published in 2008. The project management approach outlines more than 40 processes that are necessary for project management and group... the...
6 Pages(1500 words)Assignment

Management

7 Pages(1750 words)Essay

Managing Projects

...? Managing Project Table of Contents Table of Contents 2 Task 4 Reference List 8 Appendices 9 Appendix Assumptions 9 Introduction 14 Project Plan 15 Feasibility Study 15 Skill and Competency Audit for Project Manager 17 Project Life Cycle 18 Project Initiation 18 Project Planning 20 Project Execution and Closure 21 Conclusion 22 Reference List-2 23 Appendices 24 Appendix 1- Stakeholder Analysis 24 Appendix 2: Path for Leisure Facility Project 25 Appendix 3: Work Breakdown Structure for Leisure Facility Project 26 Appendix 4: Budgeting for Leisure Facility...
12 Pages(3000 words)Term Paper

Managing projects

...PROJECT MANAGEMENT Introduction Almost everybody is engaged in one or more projects directly or indirectly in his/her life. It can vary from doing apersonal project such as obtaining a Degree to the construction of big industrial projects such as Dams and Bridges. Projects have been carried out since the beginning of civilization. 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 need was further compounded when business community started thinking of introducing project management for business purposes. Consequently, a new body... of...
12 Pages(3000 words)Essay

Comparing and contrasting marketing activity

10 Pages(2500 words)Essay

Managing Projects

... a span of 1 year. In the absence of statistical facts from Jones Ltd, this report will be based on the fundamental principle of goal-oriented project management, which demands for implementation of all processes of administration and leadership (Lock, 2007). Project’s Life cycle The Jones Ltd’s project of buying and selling/distributing computers would have similar lifecycle depicted in the diagram below: Market research Purchase of Computers Sales/Distribution Project’s Life Cycle... ...
8 Pages(2000 words)Essay

Managing Projects

...Managing Projects By Q The principles of projects, The Commitment Principle An equitable obligation amid the provider of assets and the project supply team must exist afore a practical plan exists. The project procurement team is accountable for developing appropriate policies, tactics and controls for applying the required skills and effort to convert those assets into the prerequisite deliverables. (Patzak&Rattay, 2011). The Success Principle The procedures for project achievement, in terms of both process and merchandise, must be defined at the commencement of the project as a foundation for project administration decision making and post-project assessment. Short of arrangement on the project’s triumph criteria... , it will not be...
11 Pages(2750 words)Assignment