CPM/PERT Presented by DATE- 08 Aug. 2014 Shravan Kumar Project “A project is a series of activities directed to accomplishment of a desired objective.” Plan your work first…..then work your plan Network analysis Introduction Network analysis is the general name given to certain specific techniques which can be used for the planning, management and control of projects. One definition of a project: “A project is a temporary endeavour undertaken to create a "unique" product or service”
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Critical Path Method (CPM) ……………………………………………………………..…………………………………… 8 2.2.1 Steps of CPM Project Planning ……….……………………………………………………………………………… 9 2.2.2 Example of CPM …………………………………………………………………………………………………………… 11 2.2.3 Benefits of CPM …………………………………………………………………………………………………………… 12 2.2.4 Limitation of CPM …………….…………………………………………………………………………………………. 12 2.3 Project Evaluation and Review Techniques (PERT) ……..……………..………………………………………… 13 2.3.1 Steps of PERT in Project Planning
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NOTE: Please note that the workings are provided in the Excel worksheet. PERT/CPM TECHNIQUES Task: A. Use the estimates for Company A in Table 1.1 to do each of the following: 1. Determine the expected completion time for each of the ten project activities, showing all of your work. Task Optimistic Time to Complete (weeks) Probable Time to Complete (weeks) Pessimistic Time to Complete (weeks) Expected Time to Complete (weeks) A 2 3 4 3.00 B 5 6 13 7.00 C 3 4 8 4.50 D 10 11 15
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PROJECT CONTROL WITH PERT/CPM CPM (Critical Path Method) determines the longest path and the critical activities along this path in a project network; the project completion time can't be shorter than the duration of this longest path unless such techniques as time crashing are used. PERT (Program Evaluation and Review Technique) incorporates probabilistic elements into the computation of activity durations and hence the project completion time; PERT uses optimistic (o), most probable (m)
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Create a PERT model of this project and use it to answer these questions: 1. What is the expected completion time of this project? 2. What completion time should Sharon use, if she wants to be 90% confident? 3. What is the probability of completion by week 43? 4. Give an estimated probability distribution for the amount of penalties Sharon will have to pay. 5. What is the expected value of the penalty? 6. Which activities are most likely to be on the critical path? 7. Compare the PERT results
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4. What does Six Sigma refer to? 5. What are some of the ways that the success of Six Sigma implementations is improved? 6. SAP uses the term strategic enterprise management (SEM), Cognos uses the term corporate performance management (CPM), and Hyperion uses the term business performance management (BPM). Are they referring to the same basic ideas? Provide evidence to support your answer 7. BPM encompasses five basic processes: strategize, plan, monitor, act and adjust. Select one
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4. What does Six Sigma refer to? 5. What are some of the ways that the success of Six Sigma implementations is improved? 6. SAP uses the term strategic enterprise management (SEM), Cognos uses the term corporate performance management (CPM), and Hyperion uses the term business performance management (BPM). Are they referring to the same basic ideas? Provide evidence to support your answer 7. BPM encompasses five basic processes: strategize, plan, monitor, act and adjust. Select one
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tax is ‘A’, depreciation be ‘B’ and interest be ‘I’, then Interest cover ratio is given by 8. E-V rule is also called … 9. In case of internally generated funds the opportunity cost to the firm is … b. the lending rate 10. ‘PERT’ stands for Program Evaluation and Review Technique. Part Two: 1. Write a note on ‘Sinking Fund Payment’. Answer: A sinking fund is a means of repaying funds that were borrowed through a bond issue. The issuer makes periodic payments to
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History Wendy Lee, manager of college services at Mountain View Colleges wants a new information system that will improve efficiency and costume service at the three college bookstores. Description of the Process Project planning, Gantt Charts, PERT/CPM Charts, Microsoft Project and Open Workbench software, project monitoring, and risk management techniques. Important terms and Concepts What Does Project Manager Do? Whether a project involves a new office building or an information system,
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CHAPTER 1: OPERATIONS AND PRODUCTIVITY TRUE/FALSE 1. Some of the operations-related activities of Hard Rock Café include designing meals and analyzing them for ingredient cost and labor requirements. True (Global company profile, easy) 2. The production process at Hard Rock Café is limited to meal preparation and serving customers. False (Global company profile, easy) 3. All organizations, including service firms such as banks and hospitals, have a production function. True (What
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