Project Management The effectiveness of the plans Essay

Project Management The effectiveness of the plans - Essay Example Project management is the planning, organizing, directing and controlling of company resources for a relatively short-term objective that has been established to complete specific goals and objectives. For planning and organizing the resources, Program evaluation and review technique(PERT) and Critical Path Method (CPM) are widely used techniques for better planning and control in project management. It forms the basis for all planning and predicting and these techniques provide the management with the ability to plan for the best possible use of resources to achieve a goal within the stipulated time and allotted budget. These techniques which were used for defense during the World War II, are now used by business managers across the world to get a visibility of the activities involved in the project so that repetition of activities is reduced. It helps the management to handle the uncertainties involved in the program by analyzing how much time is required for each activity and which activity is crucial for the timely completion of the project. It is useful for the management to collect all the relevant information for making decisions. The major deficiency of other methods such as the Gantt, milestone or bubble chart is the inability to show the interdependencies between event s and activities, which is overcome in the network analysis. The foremost advantage of PERT is that it requires planning in detail to create a network of activities. Network development and critical path analysis reveal interdependencies and problem areas that are not very clear if other methods are used. The technique lays its focus on determining where the greatest effort should be made for a project to stay on schedule. The next greatest advantage of network analysis is that the business manager can know about the probability of meeting specified deadlines by development of alternative plans. Another advantage of this analysis is that we can evaluate the effect of changes in the program. For example this technique can evaluate the effect of contemplated shift of resources from the less critical activities to the activities that are identified as probable bottlenecks. Thus resources and performance tradeoffs can be evaluated. This analysis also helps to present even the most complicated data into a diagram which can be presented to the custo mer/ management which makes the understanding and decision making easier. The network diagram and the calculation of total float is shown in the appendix - 1 and 2 respectively. The total project duration is 73 days and the critical path for the project includes the activities A, B, I, J, L, M, N, O, P, R. If the project starts on May 5th, 2008, the earliest date it will be completed is 13th August, 2008 if it is assumed that there are 5 days working in every week. From the analysis, we can say that when there is a 4 day delay during Q or E, there will not be any change because these activities are not a part of the critical path. When activity P is finished one day in advance, then the whole project will