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SIM335 Managing Projects - Essay Example

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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…
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SIM335 Managing Projects
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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
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SIM335 Managing Projects
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