Network Planning Techniques In Project Management

3186 Words13 Pages
Project in simple words is a series of tasks that need to be completed in order to reach the pre-determined outcome. A project can also be defined as a set of inputs and outputs required to achieve a desired goal. Projects can be either simple or complex and it can be managed by one person or more. Every project is temporary because every project has a definite beginning and end and therefore, has defined scope and resources. According to PMBOK (Project Management Body of Knowledge) 3rd edition, a project is defined as “temporary endeavour with a beginning and an end and it must be used to create a unique product, service or result.” A project is unique in terms that a project is not a regular business operation, a project has a set of activities…show more content…
Controlling: These activities involve developing budget and finance control points, measuring of scheduled tasks performed. Project management techniques Figure 2.1.1: Project management techniques 1. Gantt charts: Gantt charts show project tasks against time, it monitors the growth of individual project tasks and highlights the dependency if any between those project tasks. 2. Network planning techniques: These techniques show the relationship between project activities, project duration, critical activities, constraints of non-critical activities and resource utilization. There are two variants in network planning techniques: Critical Path Method (CPM) and Program Evaluation and Review Technique (PERT). b) The Project Lifecycle The project manager and his project team share a common goal – to carry out the project work for the purpose of meeting the project objectives. Project, like every other activity has a beginning, the middle period, where activities move towards the end, and an end. The phases of the project represents a path project takes from the beginning to its end makes the project life-cycle. A project life-cycle has typically four major phases – initiation, planning, implementation and…show more content…
Non-numeric models a. The sacred cow: Here the project is suggested by a senior or powerful individual in the organization. The project is considered sacred in the terms that it will be maintained until completed successfully or the executive management terminates it. The project is initiated from an opportunity, for example, the market opening to launch a new product. b. The operating necessity: When a project is started to in order to keep the system it is the operating necessity. For example, when flood threatens a plant, a project to build a protective desk is operating necessity. These doesn’t require any formal evaluation, however if the system for which the projected is initiated is worth saving the estimated cost of the project, the project will be reviewed making sure to keep the project cost as low as possible. c. The competitive necessity: The projects on many occasions are started off with a desire to maintain a company’s competitive edge in the market. For example, Emami, a cosmetics company in India, came up with the range of men’s fairness cream to maintain a competitive edge over the others in the same market

More about Network Planning Techniques In Project Management

Open Document