Project Management
Critical Path Analysis
• A project is a specific and temporary activity with a start and end date, with clear goals set,
defined objectives needed to be completed in a given budget.
Project
• Elements of a project –
1. Resources (FOP)
2. Money
3. Scope
4. Time
Project Planning
and
Management
• A project must be planned, managed, cost
efficient to be successful
• Key elements of project management
• Defining the project, setting goals
• Dividing it into smaller activities
• Controlling and managing it at
every stage
• Assigning clear roles
• Quality standards issue
Impact of
Project Failure
• Bad publicity
• Loss of future contracts
• Penalty payments
Reasons for
failure
• Not enough information
• Lack of finance, legal issues
• Lack of coordination
• Community against the product
• Errors, wastage
• Bad management, customers could not buy the product
• Workers aren't motivated, not skilled enough, incompetent
• Economic situations (neg)
• Outdated project, quickly changing market
• Bad planning- resources aren't sufficient
• Or because the student didn’t do their homework
Critical Path Analysis
CPA is a planning technique that identifies all tasks in a project, puts them in
the correct sequence and allows for the identification of the critical path.
Activities that must be completed to achieve this shortest time make the
critical path
1.Identify the objective
Process of identifying critical path –
2.Put the tasks in a sequence and draw a network diagram
3.Add durations
4.Identify the critical path
Network Diagrams
• It is a diagram used in critical path analysis that shows the logical sequence of activities
and the logical dependence between them – so the critical path can be identified
• EST (Earliest Start Time) = EST of previous activity + duration of current activity
• LFT (Latest Finish Time) = LFT in the previous node- duration of current activity
• Free float shows the length of time an activity can be delayed without delaying the start of
next activity
• Free float = EST (next activity)-duration- EST (Current activity)
• Total float = LFT- Duration- EST
• Total float is the amount of time an activity can be delayed by without delaying the whole
project
• Total float = 0 the activity is on the critical path and cannot be delayed
Dummy Activities
• Indicated by a dotted line
• Does not consume time or resources
• Used when –
• A & B start a project, C follows only A
but D follows A + B
Advantages of Critical Path Analysis
Used to assist planning and management of complex projects
Helps calculate accurate delivery dates
Calculation of EST allows special orders to be managed
Calculation of LFT helps act as a checklist of measuring the success and efficiency
Knowing the critical path helps understand which activities to focus on, which can’t be delayed
Additional resources needed for speeding an activity could be used from non-critical activities
Reduces total time taken as it encourages simultaneous development rather than sequential.
Critical Path Analysis - Evaluation
Doesn’t guarantee project success
Skilled labour, motivated workers also needed
Good management
Experienced senior managers