Time Estimates Activity (weeks) Activity Description Select project manager Predecessor a m b 1 2 2 a Develop team recruitment plan Implement team recruitment a 1 2 3 b 3 6 8 process d Staff needs assessment 1 2 3 Staff recruitment advertising 1 1 Staff selection evaluation 4 procedures Select project team members Develop contractor bid requirements Develop contractor bid 2 4 6 1 4 6 a i 9. h 2 3 4 evaluation procedure Staff applicant evaluation 2 4 5 j e, f, g and selection 212N
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
The Virginia Department of Transportation is undertaking a
construction project to widen a large section of interstate,
highway near Washington, DC, which includes the construc-
tion of a number of new bridges, interchanges, and over-
passes. The first step in the project is the appointment of a
project manger and the development of a project team, some
of which will be departmental employees and others will be
private consultants and operatives. The team for a project this
size also requires a large support staff with varying technical
skills. Once the team is selected and the staff is in place the
first task is to select a primary contractor to manage and over-
see the actual construction. The following activities are stan-
dard for the planning and
Construct the CPM/PERT network for this project and de-
termine the project schedule. Identify the critical path and
determine the expected project duration time and variance.
Determine the probability that the team and contractor will
be in place and the project started within six months; one
year.
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