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Lecture 43

Project management involves organizing and managing resources to complete a unique project within defined scope, time, and cost constraints. Key tools for project management include Gantt charts, PERT or CPM techniques, and work breakdown structures. PERT and CPM are critical path methods used for network diagrams to determine activity sequences and identify the critical path that determines the expected project duration. The project manager is responsible for the work, quality, human resources, time, communications, costs, and conducting technical and financial analyses of the project.

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Anaya Malik
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31 views

Lecture 43

Project management involves organizing and managing resources to complete a unique project within defined scope, time, and cost constraints. Key tools for project management include Gantt charts, PERT or CPM techniques, and work breakdown structures. PERT and CPM are critical path methods used for network diagrams to determine activity sequences and identify the critical path that determines the expected project duration. The project manager is responsible for the work, quality, human resources, time, communications, costs, and conducting technical and financial analyses of the project.

Uploaded by

Anaya Malik
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Project Management

Project Management
 Project management is the
discipline of organizing and
managing resources in such a way
that these resources deliver all the
work required to complete a project
within defined scope, time, and cost
constraints.
 A project is a temporary and one-

time endeavor undertaken to create


a unique product or service.
Project Management

Project Management
 What are the tools?
• Gantt charts
• PERT or CPM Technique
• Work breakdown structure
Project Management

PERT and CPM

 PERT: Program Evaluation and


Review Technique
 CPM: Critical Path Method
Project Management

The Network Diagram


 Activities
 Events

 Network (precedence) diagram

 Activity-on-arrow (AOA)

 Activity-on-node (AON)
Project Management

The Network Diagram


 Path
• Sequence of activities that leads from the
starting node to the finishing node.
 Critical path
• The longest path; determines expected project
duration.
 Critical activities
• Activities on the critical path.
 Slack
• Allowable slippage for path; the difference the
length of path and the length of critical path.
Project Management

Project Management
 What are the Key Metrics
• Time
• Cost
• Performance objectives
Project Management

Project Manager
Responsible for:

Work
Quality
Human Resources
Time
Communications
Costs
Project Management

Project Manager
Responsible for: Technical and
Financial Analysis

1. PMP certification
2. CFM, CFA and CFP certification
3. Financial Evaluation and
Investment Analysis
4. Cost Benefit Analysis

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