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Project Time Management

Includes processes required to ensure timely


completion of the project

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Project Time Management Topics

■Work Breakdown Structure


■. Network Diagram
■ Critical Path
■ PERT
■Duration Compression

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Project Time Management

■ Activity Definition
Identify specific activities that must be performed to
produce the various project deliverables
■ Activity Sequencing

Identify and document interactivity dependencies


■ Activity Duration Estimating

Estimate number of work periods that will be


needed to complete individual activities
■ Schedule Development

Analyze activity sequences, activity durations and


resource reqts to create project schedule
■ Schedule Control

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Project Scheduling: PERT/CPM

■ Project Evaluation and Review Technique


(PERT)
■ PERT Networks
■ Project Scheduling with PERT/CPM
■ PERT Analysis Algorithm
■ PERT/Cost
■ Critical Path Method (CPM)

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PERT
■ Program Evaluation Review Technique (PERT)
is used to plan the scheduling of individual
activities that make up a project.
■ PERT can be used to determine the
earliest/latest start and finish times for each
activity, the entire project completion time and
the slack time for each activity.
■ A critical path for the network is a path
consisting of activities with zero slack.

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PERT Network

■ A PERT network can be constructed to model the


precedence of the activities.
■ The nodes of the network represent the
activities.
■ The arcs (or arrows) of the network indicate the
precedence relationship among the activities.

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PERT
■ In the three-time estimate approach, the time to
complete an activity is assumed to follow a Beta
distribution.
■ An activity’s mean completion time is:
t = (a + 4m + b)/6
■ An activity’s completion time variance is:
σ 2 = ((b-a)/6)2
• a = the optimistic completion time estimate
• b = the pessimistic completion time estimate
• m = the most likely completion time estimate

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PERT

■ In the three-time estimate approach, the critical


path is determined as if the mean times for the
activities were fixed times.
■ The overall project completion time is assumed
to have a normal distribution with mean equal to
the sum of the means along the critical path and
variance equal to the sum of the variances along
the critical path.

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PERT Analysis Algorithm

■ Step 1: Make a forward pass through the


network as follows: For each of the activities,
beginning at the START node, compute:
• Earliest Start Time = the maximum of all
earliest finish times of activities
immediately preceding activity i. (For an
activity with no predecessors this is 0.)
• Earliest Finish Time = (Earliest Start Time)
+ (Time to complete activity i).
The project completion time is the maximum
of the Earliest Finish Times at the FINISH node.

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PERT Analysis Algorithm
■ Step 2: Make a backwards pass through the
network as follows: Move sequentially
backwards from the FINISH node to the START
node. At a given node, i, compute:
• Latest Finish Time = the minimum of the
latest start times for the activities
immediately following activity i. (For FINISH
node this is the project completion time.)
• Latest Start Time = (Latest Finish Time) -
(Time to complete activity i).

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PERT Analysis Algorithm
■ Step 3: Calculate the slack time for each
activity by:
Slack = (Latest Start) - (Earliest
Start) or
= (Latest Finish) - (Earliest
Finish).
A critical path is a path of activities, from the
START node to the FINISH node, with 0 slack
times.

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Example: ABC Associates
■ Consider the following project:
Immed. Optimistic Most Likely Pessimistic
Activity Predec. Time (Hr.) Time (Hr.) Time (Hr.)
A -- 4 6 8
B -- 1 4.5 5
C A 3 3 3
D A 4 5 6
E A 0.5 1 1.5
F B,C 3 4 5
G B,C 1 1.5 5
H E,F 5 6 7
I E,F 2 5 8
J D,H 2.5 2.75 4.5
K G,I 3 5 7

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Example: ABC Associates
■ PERT Network Representation

D J

H
A E

I
C F
Start Finish

K
B G

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Example: ABC Associates
■ Activity Expected Time and Variances
t = (a + 4m + b)/6 σ 2 = ((b-
a)/6)2
Activity Expected Time Variance
A 6 4/9
B 4 4/9
C 3 0
D 5 1/9
E 1 1/36
F 4 1/9
G 2 4/9
H 6 1/9
I 5 1
J 3 1/9
K 5 4/9

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Example: ABC Associates
■ Earliest/Latest Times
Activity ES EF LS LF Slack
A 0 6 0 6 0 *critical
B 0 4 5 9 5
C 6 9 6 9 0*
D 6 11 15 20 9
E 6 7 12 13 6
F 9 13 9 13 0*
G 9 11 16 18 7
H 13 19 14 20 1
I 13 18 13 18 0*
J 19 22 20 23 1
K 18 23 18 23 0*
■ The estimated project completion time is the Max EF at node 7 = 23.

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Example: ABC Associates

■ Critical Path (A-C-F-I-K)


D 6 11 J 19 22
5 15 20 3 20 23
H 13 19
A 0 6 E 6 7 6 14 20
6 0 6 1 12 13
I 13 18
C 6 9 F 9 13 5 13 18
Start Finish
3 6 9 4 9 13
K 18 23
B 0 4 G 9 11 5 18 23
4 5 9 2 16 18

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Example: ABC Associates

■ Probability the project will be completed within


24 hrs
σ 2 = σ 2A + σ 2C + σ 2F + σ 2H + σ 2K
= 4/9 + 0 + 1/9 + 1 + 4/9
= 2
σ = 1.414.
z = (24 - 23)/σ = (24-23)/1.414 = .
71
From the Standard Normal Distribution table:
P(z < .71) = .5 + .2612 = .7612

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Example: ABC Associates

■ Probability the project will be completed within


24 hrs
f(x) P(T< 24) = .7612

.2612
.5000

x
23 24

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PERT/Cost
■ PERT/Cost is a technique for monitoring costs during a
project.
■ Work packages (groups of related activities) with
estimated budgets and completion times are
evaluated.
■ A cost status report may be calculated by determining
the cost overrun or underrun for each work package.
■ Cost overrun or underrun is calculated by subtracting
the budgeted cost from the actual cost of the work
package.
■ For work in progress, overrun or underrun may be
determined by subtracting the prorated budget cost
from the actual cost to date.

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PERT/Cost

■ The overall project cost overrun or underrun at a


particular time during a project is determined by
summing the individual cost overruns and
underruns to date of the work packages.

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Example: How Are We Doing?

■ Consider the following PERT network:

G I
A 3 4
9
F H
B 4 5
Start Finish
8
D
3
J
E 8
4

C
10

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Example: How Are We Doing?
■ Earliest/Latest Times
Activity ES EF LS LF Slack
A 0 9 0 9 0
B 0 8 5 13 5
C 0 10 7 17 7
D 8 11 22 25 14
E 8 12 13 17 5
F 9 13 13 17 4
G 9 12 9 12 0
H 12 17 12 17 0
I 12 16 21 25 9
J 17 25 17 25 0

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Example: How Are We Doing?

■ Activity Status (end of eleventh week)


Activity Actual Cost % Complete
A $6,200 100
B 5,700 100
C 5,600 90
D 0 0
E 1,000 25
F 5,000 75
G 2,000 50
H 0 0
I 0 0
J 0 0

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Example: How Are We Doing?
■ Cost Status Report
(Assuming a budgeted cost of $6000 for each activity)
Activity Actual Cost Value Difference
A $6,200 (1.00)x6000 = 6000 $200
B 5,700 (1.00)x6000 = 6000 - 300
C 5,600 (.90)x6000 = 5400 200
D 0 0 0
E 1,000 (.25)x6000 = 1500 - 500
F 5,000 (.75)x6000 = 4500 500
G 2,000 (.50)x6000 = 3000 -1000
H 0 0 0
I 0 0 0
J 0 0 0
Totals $25,500 $26,400 $- 900

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Example: How Are We Doing?

■ PERT Diagram at End of Week 11


G 11 I 12.5
A 11 1.5 12.5 4 16.5
0 11
F 11 H 12.5
B 11 1 12 5 17.5
Start Finish
0 11
D 11
3 14
J 17.5
8 25.5
E 11
3 14

C 11
1 12

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Example: How Are We Doing?

■ Corrective Action
Note that the project is currently
experiencing a $900 cost underrun, but the
overall completion time is now 25.5 weeks or a .
5 week delay. Management should consider
using some of the $900 cost savings and apply it
to activity G to assist in a more rapid completion
of this activity (and hence the entire project).

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Critical Path Method

■ In the Critical Path Method (CPM) approach to


project scheduling, it is assumed that the normal
time to complete an activity, tj, which can be met
at a normal cost, cj, can be crashed to a reduced
time, tj', under maximum crashing for an
increased cost, cj'.
■ Using CPM, activity j's maximum time reduction,
Mj, may be calculated by: Mj = tj - tj'. It is
assumed that its cost per unit reduction, Kj, is
linear and can be calculated by: Kj = (cj' - cj)/Mj.

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The End of Chapter 12

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