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Project Management - Article Example

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6 Apr. 2011. Q. 1 Ans. Project network showing 20 general activities in order: I would most often make use of the past history to estimate the time for each activity, because the past events generate best and most practical information regarding all activities…
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Project Management
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Project Management

Download file to see previous pages... Expert opinion comes as a secondary thing. Although it is not advisable to rely solely on the expert opinion, yet it is quite rational to seek expert opinion for approval or slight adjustment of the durations estimated using past history. An estimator may solely rely upon past history to estimate the duration of activities without seeking the expert opinion, but he/she can not solely rely upon expert opinion without checking the past history for the time estimates. In rare cases, when past history is not available for a certain activity, then its time is estimated using mathematical derivation. Mathematical derivation is the empirical and the least reliable method of estimating the time of activities, yet it has to be used in the absence of past history. Again, like a second check is made for the past history by seeking expert opinion, expert opinion should also be taken to modify the time calculated using mathematical derivation, to make it more reliable. It is better for Joe to make use of AOA method because it is simpler. Also, it gives clear information regarding FF and TF. Joe should see the level of details he requires and choose the method accordingly. Q. 2 Ans. Issues that weigh in favor of crashing the project are that BCC will not have to face the liquidated damages as the project would be finished within time. ...Download file to see next pagesRead More
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