1. Project Management
Unit 4

2. Project
An undertaking or venture to accomplish some objective or Goal.
A set of interrelated jobs whose accomplishment leads to completion of the Project.
Jobs and activities consume Time and resources and are governed by precedence relation.

3. Types of Projects Personal Projects
Local or Neighborhood Project – Village level, society level Projects such as Construction of Community hall, school etc.
Organizational Projects – Producing new Product.
National Projects
Global Projects – Petroleum Pipe line between two counties.

4. Personal Projects
Planning a wedding
Taking admission in college

5. Organizational Projects
Construction of Building
Planning and Launching a new Product

6. National Project Launching a new satellite. Literacy Campaign
Poverty Removal Program
Preparation of Annual Budget

7. Global Projects Organising Peace Mission Space Exploration
Environment Protection

8. Features of a Project Well defined collection of jobs.
Generally non repetitive, one time effort.
Jobs interrelated through precedence.
Jobs consume time and resources.
A Project has limited resources.

9. Project Appraisal Assessment of the Project.
Determining its acceptability.
Final step before the Project is agreed for financing.
Six major appraisals of a Project.

10. Six Major Appraisals Technical Appraisal Financial Appraisal
Economical Appraisal
Social Appraisal
Market Appraisal
Ecological Appraisal

11. Lifecycle of Project Selection of Project. Project Planning
Scope and work of Network development.
Basic scheduling (when should what start and end)
Time Cost Trade-offs.
Project implementation
Project completion and audit.
From Current State to Desired State

12. Critical Path Method (CPM).
Probabilistic Evaluation & Review Technique (PERT).

13. CPM Activity duration is Deterministic in CPM.
Previous experience yields fairly accurate estimates of activity duration.
Example – Construction activity Market Survey.

14. PERT There is uncertainty in Activity duration.
Example – R&D activities, new activities being carried out for first time.

15. Critical Path The Longest path in the network.
Minimum time required to complete the Project.

16. Floats
Float indicates the extent of flexibility with regard to starting an activity without affecting the Project completion time.

17. Critical Path Method
Numerical

18. Example Question

19. Solution

20. Critical Path

21. Floats

23. All Floats if this question

24. Program Evaluation and Review Technique
PERT
Program Evaluation and Review Technique

28. For solution of this question, refer to the class notes.