substantially less. This added safety affects the interest rate at which the company is able to offer bonds in the marketplace. 2. DIFFERENCE BETWEEN PERT AND CPM MODEL: CPM and PERT (Program Evaluation and Review Technique) are most commonly used methods for project management. There are some similarities and differences between PERT and CPM. PERT can be applied to any field requiring planned, controlled and integrated work efforts to accomplish defined objectives. On the other hand, CPM (Critical
Words: 2376 - Pages: 10
completion times. Part 1: Estimating and Scheduling Using the information in Table 1, complete the following: 1. Draw a PERT diagram for the sales commission system. Use Microsoft Project. Note that in MS Project, a PERT diagram is called a ‘Network diagram’. You create it automatically by generating a GANTT chart. You will need to use both the GANTT and PERT charts to manage the project schedule. When is the project currently scheduled to be completed? 2. The project should start on
Words: 420 - Pages: 2
FACTORS AFFECTING PLANNING Conditions • Evaluating the present conditions of the business • Change happens unexpectedly Time Factor • Time is the most precious resource of an organization • Managers are given a span of time within which to bring out plans into implementation Resources Available • There must be enough funds and materials available for the purpose of putting plans into effect Skills and attitudes of management • An attitude of indifference and non – involvement could but
Words: 1085 - Pages: 5
7. PROJECT MANAGEMENT Syllabus Definition and scope of project, Technical design, Financing, Contracting, Implementation and performance monitoring. Implementation plan for top management, Planning Budget, Procurement Procedures, Construction, Measurement & Verification. 7.1 Introduction Project management is concerned with the overall planning and co-ordination of a project from conception to completion aimed at meeting the stated requirements and ensuring completion on time, within cost
Words: 5539 - Pages: 23
of possible higher costs at this stage gives them the option of making changes and maintaining their budgets. C. A missing PERT/CPM Chart: A PERT & CPM chart’s are project management tools used to schedule, organize, and coordinate tasks within a project. Missing PERT/CPM may cause as a lot of chaos in a project, such situation can be overcome by making a PERT/CPM chart such that the project management can determine which task has to start first & when it should start & finish
Words: 557 - Pages: 3
Running head: SYSTEMS ANALYSIS AND DESIGN Torey Golden Unit 6 Assignment 6 IT510 Kaplan University Table of Contents Part 1 3 Part 2 4 Part 3 7 References 9 Part 1 The team is now at the end of this information systems project for the company’s advertising personnel. We have been recently informed that they will be an employment reduction that will affect the systems analysis team and our budget which in turn has affected moral based on Ontha Weyout’s response during
Words: 1880 - Pages: 8
16 Product waste is an example of waste in the sense that no value is added- true In a JIT system, product inspection adds value by identifying defective items-false A push system means providing the station with exactly what is needed when it is needed-false Waste is anything that does not add value from the consumers prospective- True Increasing inventory exposes variability in production processes-false The 5’s do not include-safety Manufacturing cycle time is best described as-time from
Words: 1415 - Pages: 6
1) Study Questions Chapter # 3 Questions # 72 and 73 72. Computer aided systems engineering (CASE) tools are software programs that automate or support the drawing and analysis of system models and provide for the translation of system models into application programs. True 73. Forward engineering allows a CASE tool to read existing program code and transform that code into a representative system model that can be edited and refined by the systems analyst. False. Forward engineering
Words: 776 - Pages: 4
installing carpets and each takes up certain amount of time. Using PERT we can compute the statistical time for each activity using optimistic time, most likely time and pessimistic time. PERT uses three estimates to define an approximate time range for an activity’s duration. This approximate time range becomes the expected activity duration by using the weighted average of these three estimates. Below we have our calculations using PERT for all 7 activities. Activity 1: expected time = (4[OT] + 6
Words: 313 - Pages: 2
ABSTRACT Critical Chain Project Management: An Overview Christopher Aitken Director: Elisabeth Umble, Ph.D. The purpose of this thesis is to introduce to the reader Critical Chain Project Management, which is the application of the Theory of Constraints (TOC) process to project management. Eli Goldratt describes the process in the book Critical Chain. Applying Critical Chain protocol will improve the projects due date performance and the quality of deliverables, whatever the project or circumstance
Words: 8356 - Pages: 34
