Managing Projects Essay Example | Topics and Well Written Essays - 2750 words

Managing Projects - Essay ExampleNetwork Diagram (Activity on Node) 1 2. Network Diagram (Activity B is delayed by one day) 6 3. Network Diagram (Activity P is delayed by one day) 7 4. Network Diagram (Activity O is delayed three days) 8 LIST OF TABLES tabularize Title Page 1 Project Completion Date 4 Task 1 1. Network diagram (using legal action on node the node) (Gido & pitying 2008) 2. Timings of the Activities and Total Float It was essential to estimate the duration and sequence of activities before a network diagram could be established to calculate the total float. For this purpose, teaching on amount of work and number of wok periods, types and quantities of resources and their availability was important. According to (PMBOK, 2004), a better way of handling this information is by using a jut calendar and an alternative resource calendar. To estimate duration of each activity, list of all activities, duration estimating databases and other historical reference data which may be commercially available, project calendar from organization process assets, constraints and assumptions from the project scope statement that may impact amount and duration of work, estimates of resource requirements for each activity human resources and material and equipment requirements are critical inputs to the process of estimating activity durations (Lock, 2007). Estimation of costs and identification of risks associated with each activity help is determining the activity durations with more than accuracy closer to actual. Then from the information gathered above, techniques like parametric estimation, analogous estimation, three point estimation and substitute psychoanalysis could be employ to more precisely estimate the duration of activities (Lock, 2007). In parametric estimation, a mathematical model based on historical records using regression analysis or learning curve is created when there is no information as to on what basis estimation is to be based. Analog ous estimation uses a standardised previous activity as basis to estimate the future activity. It is more widely used to estimate project durations rather than duration of a superstar activity when there is no much information regarding project is available. The probability of completing a project or activity on a superstar date is too less therefore, in three point estimating, an optimistic, a pessimistic and most likely estimate is made for each activity and thus activity duration is calculated either as average of these three or using a formula. When reasonable estimates of the project activities name been made, then reserve analysis is conducted to cater for risks of time and cost by adding contingency reserve and management reserve. The next process is to sequence activities into how the work would be performed considering their internal and international dependencies. The outcome of this process is a network diagram or a project schedule network diagram. In this report, we have used Precedence schematisation Method (PDM) or Activity on Node where nodes are used to represent activities and arrows show their dependencies. In our case study, we have used finish to arising relationship while constructing the network diagram to show dependencies between the activities. Now to calculate the total float, critical path method was used. Once the duration of activities have been determined, dependencies between activities have been established and network diagram has been created the next step was to calculate the earliest and latest an activity can