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MGMT 418 Lesson 2
MGMT 418 Lesson 2 - Project Scheduling
| Question | Answer |
|---|---|
| Activity | A distinct, scheduled portion of work performed during the course of a project” (PMBOK 2013). An activity consumes resources and takes time to complete. An activity is where project performance is determined. Throughout this course, activity and task will be used interchangeably |
| Project Network Diagram | A graphical representation of the logical relationships among the scheduled activities. |
| Path | A sequence of activities in a schedule network that starts from the beginning of a project to the end of the project. |
| Event | Some particular point in time that is often determined by the result of completing one or more activities. |
| Node | One of the defining points of a network; a junction point joined to some or all of the other dependency lines (paths). |
| Predecessors | Those activities that must be completed prior to initiation of a later activity in the network. |
| Successors | Activities that cannot be started until previous activities have been completed. These activities follow predecessor tasks. |
| Merge Activity | An activity that has more than one immediate predecessors. |
| Burst activity | An activity that has more than one immediate successors. |
| Serial Activities | Those that flow from on to the next, in sequence. |
| Concurrent Activities | When the nature of the work allows for more than one activity to be accomplished at the same time, these activities are called concurrent, and parallel project paths are constructed through the network. |
| Early Start (ES) date | The earliest possible point in time when an activity can start. ES = max value of the EF dates of the predecessors. |
| Early finish (EF) date | The earlies possible point in time when an activity can finish. EF = ES + Activity duration |
| Late finish (LF) date | The latest possible point in time when an activity can finish without delaying the project completion date. LF = min value of the LS dates of the sucessors |
| Late start (LS) date | The latest possible point in time when an activity can start without delaying the project completion date. LS = LF - Activity duration |
| Forward Pass | A critical path method technique for calculating the early start and early finish dates by working forward through the schedule model from the project start date or given point in time. An additive move through the network from start to finish |
| Backward Pass | A critical path method technique for calculating the late start and late finish dates by working backward through the schedule model from the project end date. A subtractive move through the network from finish to start. |
| Float | The amount of time an activity may be delayed from its early start without delaying the finish of the project. Float is also called slack: (LS - ES) or (LF - EF). |
| Critical path | The sequence of activities that represents the longest path through a project, which determines the shortest possible duration. |
| Critical Path Method | A network analysis technique used to determine the amount of schedule flexibility on logical network paths in the project schd network and to determine min project duration. |
| Resource-limited schedule | A project schedule that is adjusted based on the availability and constraints of resources. |
| Resource Constraints | This refers to the limited availability of resources, such as manpower, equipment, budget, or materials. |
| Resource Leveling | Technique used to address the over-allocation of resources. By rescheduling tasks that are flexible in terms of start and end times, project managers aim to smooth out the demand for resources, ensuring that they are used efficiently and consistently. |
| What are five key points to Resource-limited schedule | 1. Resources Constraints 2. Potential Delays 3. Resource Leveling 4. Critical Path Changes 5. Priority Systems |
| Activity on Arrow (AOA) | AOA network diagram, is a graphical representation used to depict the sequence of activities in a project. |
| Activity on Node (AON) | AON Network diagram, is another type of graphical representation used to illustrate the sequence of activities in a project with nodes or boxes and lines between them. |
| Three - Point Estimating Technique | Method used to estimate the duration or cost of an activity in project management. It draws on the concept of the Program Evaluation and Review Technique (OERT) and involves the use of three estimates to define an approximate range for an activity's duration. |
| What 3 estimates are used to improve the accuracy and realism activity time and cost estimates in the Three point estimate method | Most optimistic (a) , most likely (m) , most pessimistic (b) |
| What is the formula for finding time Estimate | Activity Duration = TE = a + 4m +b / 6 |
| What are the advantages of Three-Point Estimating | Range of Estimates: Provides a range of possibilities that can be useful for risk management Flexibility: offers a balanced view by considering both best-case and worst-case scenarios More accurate: By considering three potential outcomes, if often yields a more realistic estimate than if only a single point was considered. |
| What are the limitations of Three-Point Estimating | Requires More Info: This technique requires detailed information and can be time-consuming. Subjectivity: The estimates, especially the optimistic and pessimistic ones, can be influence by the estimator's biases or risk preferences. |
| What are the 6 steps of the CPM | 1. Develop a network diagram. 2. Estimate the activity durations 3. Forward Pass 4. Backward Pass 5. Calculate Floats (slacks) 6. Determine the critical path and critical activities |
| What does a network diagram do? | Shows all activities in a project and the work sequences between them. |
| What is Forward pass formulas? | ES = max value of the EF dates of its predecessors EF = ES + Activity duration |
| What is Backward pass formulas? | LF = min value of the LS dates of its successors LS = LF - Activity duration |
| What does floats/slacks show? | the amount of time that an activity can be delayed without delaying the project completion date |
| What are float/slack formulas? | Float/Slack = LS - ES or Float/Slack = LF - EF |
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