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In this chapter you should be able to: Explain what aggregate planning is and how it is useful, identify the variables decision makers have to work with in aggregate planning, describe some of the strategies that can be used for meeting uneven demand,. | Chapter 16 - Project Management Operations Management 6th Edition R. Dan Reid & Nada R. Sanders 1 Copyright © 2016 John Wiley & Sons, Inc. Learning Objectives Describe a project’s life cycle. Describe project management concepts. Estimate the probability of a project being completed by a specific due date. Demonstrate how to reduce a project’s completion time. Describe the critical chain approach. 2 Project Life Cycle What is a project? Any unique endeavor with specific objectives With multiple activities With defined precedent relationships With a specific time period for completion Examples A major event like a wedding Any construction project Designing a political campaign 3 Project Life Cycle Cont’d 4 Project Management Concepts Program Evaluation & Review Technique (PERT): Developed to manage the Polaris missile project Used to determine a project’s planned completion date and identify the critical path Critical Path Method (CPM): Developed to coordinate . | Chapter 16 - Project Management Operations Management 6th Edition R. Dan Reid & Nada R. Sanders 1 Copyright © 2016 John Wiley & Sons, Inc. Learning Objectives Describe a project’s life cycle. Describe project management concepts. Estimate the probability of a project being completed by a specific due date. Demonstrate how to reduce a project’s completion time. Describe the critical chain approach. 2 Project Life Cycle What is a project? Any unique endeavor with specific objectives With multiple activities With defined precedent relationships With a specific time period for completion Examples A major event like a wedding Any construction project Designing a political campaign 3 Project Life Cycle Cont’d 4 Project Management Concepts Program Evaluation & Review Technique (PERT): Developed to manage the Polaris missile project Used to determine a project’s planned completion date and identify the critical path Critical Path Method (CPM): Developed to coordinate maintenance projects in the chemical industry An algorithm for scheduling a set of project activities; identification of the critical path/s (longest) 5 PERT and CPM Benefits Graphically display the precedence relationships & sequence of activities Estimate the project’s duration Identify critical activities that cannot be delayed without delaying the project Estimate the amount of slack associated with non-critical activities 6 Network Planning Techniques 7 Identify project activities and precedent relationships. Calculate the expected completion time of the project. Identify the activities critical to the timely completion of the project. Project Management & Network Planning – 4 Steps Describe the Project Objective, project end date Define project activities (resource requirements such as labor, equipment, funds) and precedence relationships Diagram the Network Estimate Project’s Completion Time Monitor Project’s Progression Quality, audit, measurements 8 Step 2: Diagram the .
