Request Demo Project Resource Allocation and Resource Management The resources of an organization consist of people, materials, equipment, knowledge and time. Organizations typically have limited resources; therefore, tradeoffs on what project resources are expended and when are made every day within organizations.
Estimate project costs and schedules. Establish a dependable project control and monitoring system. Tools Project management is a challenging task with many complex responsibilities.
Fortunately, there are many tools available to assist with accomplishing the tasks and executing the responsibilities.
Some require a computer with supporting software, while others can be used manually.
Project managers should choose a project management tool that best suits their management style. No one tool addresses all project management needs. Both of these project management tools can be produced manually or with commercially available project management software.
Both charts display the total project with all scheduled tasks shown in sequence. The displayed tasks show which ones are in parallel, those tasks that can be performed at the same time.
The activities are the tasks of the project. The milestones are the events that mark the beginning and the end of one or more activities. Determine the proper sequence of activities. This step may be combined with 1 above since the activity sequence is evident for some tasks.
Other tasks may require some analysis to determine the exact order in which they should be performed. Construct a network diagram. Using the activity sequence information, a network diagram can be drawn showing the sequence of the successive and parallel activities.
Arrowed lines represent the activities and circles or "bubbles" represent milestones. Estimate the time required for each activity. Weeks are a commonly used unit of time for activity completion, but any consistent unit of time can be used. A distinguishing feature of PERT is it's ability to deal with uncertainty in activity completion times.
For each activity, the model usually includes three time estimates: Optimistic time - the shortest time in which the activity can be completed. Most likely time - the completion time having the highest probability.
Pessimistic time - the longest time that an activity may take. From this, the expected time for each activity can be calculated using the following weighted average: Determine the critical path. The critical path is determined by adding the times for the activities in each sequence and determining the longest path in the project.
The critical path determines the total calendar time required for the project. The amount of time that a non-critical path activity can be delayed without delaying the project is referred to as slack time. If the critical path is not immediately obvious, it may be helpful to determine the following four times for each activity:Our Partners.
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