Archive | Project Management

Difference between PERT and CPM | Project Management

This article will help you to differentiate between PERT and CPM. Difference # PERT: 1. A probabilistic model with uncertainty A deterministic model with well-known activity in activity duration. Expected time is (single) times based upon past experience, calculated from to, tm and tp. 2. An event-oriented approach. 3. PERT terminology uses words like network […]

Smoothing of the Load (With Example) | Network Analysis

Smoothing of the load or resources of a network implies scheduling the activities within the limits of their total floats such that fluctuations in load or resource requirements are minimized. In other words peaks and valleys in the load chart are leveled in order to keep constant and stable optimum work force throughout the project […]

Operations Research: History, Methodology and Applications

After reading this article you will learn about:- 1. History of Operations Research 2. Definition and Concept of Operations Research 3. Methodology 4. Applications. History of Operations Research: Historically, the term Operations Research originated during Second World War when U.S.A. and Great Britain’s Armed Forces sought the assistance of Scientists to solve complex and very […]

PERT: Meaning and Steps | Network Analysis | Project Management

After reading this article you will learn about:- 1. Meaning of Programme Evaluation Review Technique (PERT) 2. Steps Involved in PERT Planning Techniques 3. Example. Meaning of Programme Evaluation Review Technique (PERT): PERT was first used in 1957 as a method of planning and controlling the Polaris Missiles Programme by Booz, Allen and Hamilton together […]

CPM: Meaning, Steps and Example | Network Analysis

After reading this article you will learn about:- 1. Meaning of CPM 2. Steps Involved in CPM Technique 3. Example. Meaning of CPM: CPM is applicable to both large and small projects, taking from space programmes to wedding or horse shows. It is widely recognized and is the most versatile and potent management planning technique. […]

Project: Types, Objectives and Organisation | Project Management

After reading this article you will learn about:- 1. Meaning of Project 2. Types of Projects 3. Organisation 4. Cost Estimating and Budgeting 5. Planning and Scheduling 6. Controlling Progress and Costs. Meaning of Project: If there is one single quality which sets a project apart from routine commercial or industrial operations, it is its […]

Techniques used in Operations Research | Project Management

Various techniques used in Operations Research to solve optimisation problems are as follows: 1. Linear Programming 2. Waiting Line or Queuing Theory 3. Goal Programming 4. Sensitivity Analysis 5. Dynamic Programming 6. Nonlinear Programming. Technique # 1. Linear Programming: Linear programming is one of the classical Operations Research techniques. It had its early use for […]

Comparing Alternative Investments of Capital | Project Management

Different methods employed for comparing alternative investments and to ascertain the profita­bility of each project are:- 1. Pay-back method. 2. Return on investment method. 3. Present-value return on investment method. 4. Return on total capital employed. 5. Linear programming model. 6. Simulation technique. 1. Pay-Back Method: The method attempts to determine the number of years […]

Forms of Training Conducted for Different Levels of Staff

After reading this article you will learn about the forms of training conducted for different levels of staff: (A) Worker’s or Operator’s Training (B) Foreman or Supervisor’s Training (C) Executive Training and Development. (A) Worker’s or Operator’s Training: 1. Induction and Orientation: When a new worker joins a concern, everything is strange for him; physical […]

Installing a Project: 7 Phases | Project Management

Installing a project passes through different phases depending upon the type type of project. For the purpose of study let us consider that a project passes through following phases: 1. Project Identification 2. Project Preparation or Formulation 3. Project Appraisal 4. Negotiations 5. Project Approval 6. Project Planning 7. Project Implementation. Phase # 1. Project […]