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Project Management

Learn the fundamentals of project management, including planning, time management, resource allocation, and budget control. Use decision trees, Gantt charts, and CPM/PERT methods to ensure project success. Benefit from effective communication, benchmarking, and performance standards. Manage the delicate balance between deliverables, cost, and quality.

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Project Management

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  1. Project Management

  2. Project Management DILBERT’S BOSS

  3. A Balancing Act Deliverables Cost Quality

  4. Learning How ME 440/441 MBA Industrial training programs

  5. Planning • Technical • Time • Resources • Personnel • Equipment and Facilities • Budget

  6. Benefits of Planning • Framework for communication • Clients and coworkers • Allocate resources • Personnel, equipment and facilities, budget • Benchmark to measure progress

  7. Planning - Fundamentals Establish Performance Standards at the BEGINNING Use Decision Trees/Matrices, QFD, Taguchi Methods Assure Performance Standards as Project Progresses Verify Final Performance Against Standards NO SUPRISES!

  8. Time Planning Identify TASKS Estimate DURATION of Tasks Establish PRECEDENCE of Tasks Record MILESTONES (Performance and Dated) Plan Start and Finish DATES for Tasks

  9. Models Gantt Charts - Bar Charts CPM/PERT - Network Control Charts - Planned versus Actual

  10. Example Gantt Chart

  11. Gantt Chart • Tabulate Project Tasks • Title and ID Number for Each Task • Estimate Duration of Each Task • Estimate Resource Requirements for Each Task • May Need Dummy Tasks for Critical Resources • Identify Prerequisite Tasks for Each Task • Layout Bar Chart with One Bar per Task based on Time • Add Dated Milestones

  12. Example Gantt Chart

  13. Gantt Chart - Pros and Cons • Strengths • See Status of Each Task at Any Point in Time • See Overlapping and Parallel Tasks • Weaknesses • Unable to Tell if the Entire Project is on Time for Highly Dependent Projects • Difficult to Show Critical Path

  14. CPM/PERT Critical Path Method Program Evaluation and Review Technique

  15. Example PERT Chart

  16. CPM/PERT • Tabulate Project Tasks • Title and ID Number for Each Task • Estimate Duration for Each Task D=(O+4M+P)/6 • O = Optimistic, M = Most Likely, P = Pessimistic • Estimate Resource Requirements for Each Task • May Need Dummy Tasks for Critical Resources • Identify Prerequisite Tasks for Each Task • Layout Flowchart of Tasks Based on Dependencies NOT Time • Indicate Performance Milestones on Flowchart

  17. CPM/PERT - continued • Calculate Earliest Completion Time and Latest Completion Time • Beginning at start of project, ECT for task = ECT for preceding node + duration • Beginning at end of project, LCT for task = LCT for following node - duration • Calculate Slack Time for Each Task • Slack for Task= ECT - LCT • Determine Critical Path • Longest Time Path • Zero Slack

  18. Example PERT Chart

  19. CPM/PERT – Pros and Cons • Strengths • Shows Task Dependencies • Predicts Critical Path • Identifies Slack Time for Resources • Weaknesses • Assumes Subsequent Task Starts Immediately After Prerequisite Concludes • Difficult to Visualize Timing

  20. Control Charts • Quality • Statistical Process Control • Schedule • Gantt, Milestone, PERT • Budget • Commitment • Performance • Cash Flow

  21. Budget Control Chart

  22. Resource Planning • LINK TO TIME PLANNING • Personnel • In-House • Vendors and Subcontractors • Circle-dot chart

  23. Circle-dot Chart

  24. Resource Planning - continued • Equipment and Facilities • May Need to Add Dummy Tasks for Critical Resources • Downtime for Expected Maintenance or Failure • Budget • Often Not Under Direct Control of Project Team • Contingency Funds • Variable Value of Money • Inflation • International Currency

  25. Project Management is …

  26. … a Balancing Act

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