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Mastering Project Management: Planning, Time Control, and Resource Allocation

Learn fundamentals and tools for effective project planning, time scheduling, and resource management in this comprehensive guide. Gain insights on benchmarking progress, assuring quality, and maintaining budgets. Explore techniques like Gantt charts, CPM/PERT, control charts, and resource planning to optimize project outcomes. Manage personnel, equipment, facilities, and budgets efficiently. Enhance your skills in industrial training programs and MBA contexts for successful project delivery.

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Mastering Project Management: Planning, Time Control, and Resource Allocation

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  1. Project Management

  2. Project Management DILBERT’S BOSS

  3. A Balancing Act • Deliverables • Cost • Quality

  4. Learning How • ME 414W/415W - http://www.me.psu.edu/sommer/me415/ • 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 • http://www.mne.psu.edu/me415/resources/docs/gantt chart.pdf

  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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