Project Management

Paper Summary:

This paper reviews techniques of project management and the difficulties that often arise when managing a project. This paper focuses primarily on activity crashing, reviewing the advantages and disadvantages of this aspect of managing a project.

Contents:
Introduction
Analysis
Activity Crashing
Project Duration Estimates
Practical Working on Jobs
Utilizing Contract Employees for a Project vs. Loaned Internal Company Employees
Employee Committed to Action, But Poor Analysis Skills
Conclusion

From the Paper:

"There are simple methods of representing the relationship between the cost and duration of activities involved in projects, and a simplistic view can be represented as shown in figure 1. However such relationships exists for all activities involved in the project, and if the activity duration did not have any relationship to the total project, then an ideal management solution would be to choose a process which would involve the lowest cost. This is not practical to adopt since if this method is adopted for all concerned activities, then it is likely that the project will take a very long time for completion and thus involve the organization completing the project with major penalties. This type of a wrong solution for the project is called sub-optimization. This means that one activity of a project is optimized and as a result of which the total project looses its optimization. This is a problem which project managers have to face many times, and a solution which is often adopted to get rid of this problem is to try and complete all activities in the minimum possible time. This naturally increases the cost and the time involved is called the activity crash time. (Advanced Scheduling Techniques)"

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