Managing Project Essay Example | Topics and Well Written Essays - 2250 words

Managing Project - Essay Example This paper includes the study of two cases using the Project Evaluation and Review Technique (PERT) or network diagram. In case 1, network diagram was shown using the activity node. Calculation of Earliest start time (EST) and Latest start time (LST) was done to be able to show the Slack or total float of the activity. Critical path was used to be able to complete the given task without budget constraint. The study will be able to show the importance of the said technique in managing a project. Cost estimation was presented using principles and other theory. Diagram and other tables were presented in the appendixes. At the later part of this paper the difficulties and risks in project management were discuss to further develop the needed project. The purpose of this study is to be able to show the importance of project managing in a company that needs to be developed and managed well. It also allows us student to be able to demonstrate the learning and competence in respect of management of resources generally but in particular elements of time, finance and human resources. In case 1 The Design and Print limited is a printing SME in the UK supplying design and printing services. The project manager is planning for a new project. To start a network diagram using the activity on the node was structure. We will be able to construct the diagram using the table below: In the network diagram shown in appendix 2, each... 1 L N Packaging for Delivery 2 M O Delivery 5 E,N P Payment collections 10 O Appendix 2 F(5) A(1) B(2) C (2) D(1) H(1) L(3) M (1) N(2) E(10) G (4) I (2) J(2) K(2) P(10) In the network diagram shown in appendix 2, each node (circle) represents an activity and is labeled with the activity number and the associated completion time (shown in brackets after the activity number). The network diagram (appendix 1) assumes that activities not linked by precedence relationships can take place simultaneously. For example activity L is preceded by H,K therefore we can do L after H or K. (see diagram). It means that Printing can be done after sizing or type-setting. In the above diagram the activity start at Enquiries (A) , preceded by Quotation (B) you cannot proceed to B without finishing the first task (A). Finance checks on customer (E) and Order confirmation (C) can be done simultaneously since it is not linked by precedence relationship. After task (C) is completed 3 activities or task can be done at the same time since these three are all preceded by C, Purchasing (F), Scheduling (D) and Design (G). The task continues up to the last task the P. To be able to determine the total float, we must need to calculate for the earliest start time and latest start time. This allows scheduling of the work in such a manner that project duration is minimized. Some activities can be implemented simultaneously, and some activities can be delayed while efforts are concentrated on completing other activities which impose a time