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Project Management
A Short Introduction and History
Value: listing and tracking complex tasks Value: Provides a focus for project communication
Milestone: Milestone: A significant task which represents a key accomplishment within the project. Typically requires special attention and control.
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There are many more PM Terms, but these are the basics it is important to know these concepts
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Created out of need and frustration as industrialization became ever more complex
CPM (Critical Path Method) introduced by US industry in 1958 (DuPont Corporation and Remington-Rand) RemingtonIndustry needed to control costs and schedules in manufacturing
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This list does not reflect time or money This list does not reflect task relationships This list is a simple sequence of logical events This list does not provide an easy project snapshot Hard to see conflicts
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NOTE: Shaded areas are concurrent tasks that are completed along the timeline- they contribute to overall cost but not overall duration Urban and Regional Studies Institute 20
The Basics
Weighs and estimates task and project timing based on probabilistic norms and averages
Optimistic, expected, pessimistic input estimates Derives probable completion dates based on a formula (does not consider constraints)
(Optimistic x1 + expected x4 + pessimistic x1) / 6
The derived dates are estimates (educated guess) The analysis yields a best-case date, worst-case bestdate, worstdate, date, and due (derived expected) date
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The Basics
ALL PERT dates are estimates (ALWAYS) (ALWAYS) Preferred choice in Social & Behavioral Sciences
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The Basics
The Basics
Preferred choice in industry and construction tasks and outcomes are more finite and tangible
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The Basics
Used together: valuable management tools PERT and CPM have remained unchanged since 1958
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The Basics
Relies on clearly defined tasks and goals Provides estimates, not guarantees
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PM Today
Necessary?
Frustration with cost & schedule overruns Frustration with reliability of production estimates Management challenges exist today:
Only 44% of projects are completed on time On average, projects are 189% over-budget over70% of completed projects do not perform as expected 30% of projects are canceled before completion On average, projects are 222% longer than expected
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PM Overview
Valuable tools for planning and tracking
A good way to explore what if before a project ever begins
How much it could cost - money What it could entail tasks How long it could take - time Probabilities of success - risks How much resource needed people & equipment
A good way to get and stay organized Provides estimates, not guarantees
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Render, Barry and Stair Jr., Ralph M. - Quantitative Analysis for Management, Massachusetts: Allyn & Bacon Inc., 1982 US National Performance Survey, The Standish Group, 1998 Verma, Vijay K., Managing the Project Team: The Human Aspects of Project Management, Philadelphia: PMI, 1997 Wiest, Jerome D., and Levy, Ferdinand K., A Management Guide to PERT/CPM, New Delhi: PrenticePrentice-Hall of India Private Limited, 1974
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You have completed URBS 609 PERT Unit 1 Please proceed to URBS 609 PERT Unit 2
This Unit of Instruction was crafted by Robert Hugg For Minnesota State University, Mankato Urban and Regional Studies Institute - 2004
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