CIE-II ASSIGNMENT

DATE: - 26/04/2018

NAME: - SAURABH SAINI

REG. NO. : - 2015PUSOMBBXX03414

COURSE: - BBA (B)

ROLL NO. : - 2015BBXX1076

SUBJECT NAME & CODE: - BUSINESS PLANNING AND PROJECT

MANAGEMENT (BBX06101)

____________________________****________________________________

Question No. 1: - Explain following:

A. Critical path of a Project

B. Free slack v/s Total slack
C. Dummy activity
Answer No. 1: -

Critical path of a Project

Project managers often feel that they need to learn an entirely new language in
order to do their jobs. As the field of project management has grown in complexity
and importance. New project managers need to become familiar with as much of
this project management lingo as possible in order to communicate with other
managers and find the best approach for each project.
“Critical path” is one of the
most important of all project management concepts, and it’s something that every
project manager should understand before taking the reins of a major project. Put
simply, the critical path of a project is a specific sequence of tasks that must be
completed on time in order for the project to meet its deadline. Each task on the
critical path can only begin after the previous task on the critical path is complete.

Free slack v/s Total slack: -

1
 FREE SLACK TOTAL SLACK
Free Slack is the number of days Total Slack is the number of days that
that an activity can have before it activity can have before it starts delaying
starts delaying the next (successor) the whole project.
activity.
Free slack is the amount of time a pa Total slack is the amount of time a particula
rticular activity can be delayed befor r activity canbe delayed before it starts to d
e it starts to delay the next activity elay the completion of the project itself

Dummy activity: -
Dummy activities are a useful tool to implement when the specific logical
relationship between two particular activities on the arrow diagramming
method cannot specifically be linked or conceptualized through simple use of
arrows going from one activity to another. In this case, the creation of a dummy
activity, which serves essentially as a form of a placeholder, can provide
exceedingly valuable. Dummy activities should in no cases be allocated any
duration of time in the planning and/or scheduling or project activities and
components. When they are illustrated in a graphical format, dummy activities
should be represented by the user of a dashed line with an arrow head on one end,
and may in some cases be represented by a unique color.

Question No. 2: - Discuss the guidelines for construction of project network and
enumerate the differences of PERT and CPM networks.

Answer No. 2: - CPM (Critical Path Method) is used to assist the project manager
in scheduling the activities (i.e., when should each activity start). It assumes that
activity durations are known with certainty. PERT (Program Evaluation and
Review Technique) is used to assist in project scheduling similar to CPM.
However, PERT assumes that activity durations are random variables (i.e.,
probabilistic).

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GUIDELINES FOR CONSTRUCTION OF PROJECT NETWORK

 The starting event and ending event of an activity are called tail event and
head event, respectively.
 The network should have a unique starting node (tail event).
 The network should have a unique completion node (head event).
 No activity should be represented by more than one arc in the network.
 No two activities should have the same starting node and the same ending
node.
 Dummy activity is an imaginary activity indicating precedence relationship
only. Duration of a dummy activity is zero.

DIFFERENCES OF PERT AND CPM NETWORKS

1. PERT is a project management technique, used to manage uncertain

activities of a reject. While CPM is a statistical technique of project
management that manages well defined activities of a project.
2. Pert is A technique of planning and control of time. While A method to
control cost and time.
3. Non-repetitive nature of job While Repetitive nature of job

Question No. 3: - How the networks help in project uncertainty periods and for
managing risks?

Answer No. 3: - First of all we need to know what risk is. So,

Project risk is defined by PMI as, "an uncertain event or condition that, if it
occurs, has a positive or negative effect on a project's objectives."

THEN HOW WE CAN MANAGE RISKS AND UNCERTAINTIES USING

NETWORK HELP: -

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So, it can be done using PERT which stands for program evaluation and review
technique. It’s a chart which can be useful in analyzing risks using it’s and network
and computing.

It analysis the expected time for each activity along with the best
and worst case time. Then it does sum them all and divide by six. Now this can be
summed to determine the expected time for the entire project.

And the management starts by identifying all the risk events that can occur on your
project. Then estimate the probability of each event happening. Once you have
listed and quantified the project risks, then you should prepare a risk management
plan for each significant risk item. Then formalizing them into risk management
activity, and track your activities.