Project Management

Project Management definition:
A Project is a series of related jobs usually directed toward some major output and requiring a significant period of time to perform.
Project Management is the management activities of planning, directing, and controlling resources (people, equipment, material) to meet the technical, cost, and time constraints of a project.

Pure Project definition:
A pure project is where a self-contained team works full-time on the project.

Pure Project: Advantages

• The project manager has full authority over the project
• Team members report to one boss
• Shortened communication lines
• Team pride, motivation, and commitment are high 

Pure Project: Disadvantages

• Duplication of resources
• Organizational goals and policies are ignored
• Lack of technology transfer
• Team members have no functional area "home"    

Functional Project definition:

A functional project is housed within a functional division.

Functional Project: Advantages

• A team member can work on several projects
• Technical expertise is maintained within the functional area
• The functional area is a “home” after the project is completed
• Critical mass of specialized knowledge 

Functional Project: Disadvantages

• Aspects of the project that are not directly related to the functional area get short-changed
• Motivation of team members is often weak
• Needs of the client are secondary and are responded to slowly 

Matrix Project Organization Structure

Matrix: Advantages

• Enhanced communications between functional areas
• Pinpointed responsibility
• Duplication of resources is minimized
• Functional “home” for team members
• Policies of the parent organization are followed  

Matrix: Disadvantages

• Too many bosses
• Depends on project manager’s negotiating skills
• Potential for sub-optimization 

Work Breakdown Structure definition:

A work breakdown structure defines the hierarchy of project tasks, subtasks, and work packages.

Network-Planning Models

• A project is made up of a sequence of activities that form a network representing a project 
• The path taking longest time through this network of activities is called the “critical path” 
• The critical path provides a wide range of scheduling information useful in managing a project
• Critical Path Method (CPM) helps to identify the critical path(s) in the project networks

Prerequisites for Critical Path Methodology

A project must have:

•    well-defined jobs or tasks whose completion marks the end of the project;
•    independent jobs or tasks;
•    and tasks that follow a given sequence.

Types of Critical Path Methods

• CPM with a Single Time Estimate

     -Used when activity times are known with certainty

     -Used to determine timing estimates for the project, each activity in the project, and slack time for activities  

• CPM with Three Activity Time Estimates

     -Used when activity times are uncertain 

     -Used to obtain the same information as the Single Time Estimate model and probability information

• Time-Cost Models

     -Used when cost trade-off information is a major consideration in planning

     -Used to determine the least cost in reducing total project time 

Steps in the CPM with Single Time Estimate 

1. Activity Identification

2. Activity Sequencing and Network Construction

3. Determine the critical path

-From the critical path all of the project and activity timing information can be obtained

CPM with Single Time Estimate

Consider the following consulting project:

First draw the network

Determine early starts and early finish times.

Critical Path & Slack