MANAGING PROJECTS

Managing Projects



Managing Projects

Task 1: Case 1

Network Diagram

Determination of Total Float (TF) & Activity Timing

Project

Activity time

Early Start

Early Finish

Late Start

Late Finish

Slack

50

 

 

 

 

 

A

4

0

4

0

4

0

B

3

4

7

4

7

0

C

7

7

14

7

14

0

D

2

7

9

12

14

5

E

5

7

12

9

14

2

F

3

14

17

14

17

0

G

9

17

26

17

26

0

H

3

17

20

23

26

6

I

2

17

19

24

26

7

J

3

17

20

23

26

6

K

3

26

29

26

29

0

L

5

29

34

29

34

0

M

3

34

37

34

37

0

N

3

37

40

37

40

0

O

5

40

45

40

45

0

P

2

40

42

43

45

3

Q

2

45

47

45

47

0

Mangiest Ltd's network diagram - An Explanation

A network diagram can be used effectively to understand the logical flow of relationships between the activities conducted by Mangeist Ltd. A positive float figure is indicative of the delay that can be caused between two activities. This can be done without exposing the project to time lapses and overruns. As such a positive float figure indicates a cushion of extra time that can be utilized without major repercussions to the project. Conversely, a negative float figure is indicative of the time with which the concerned activity within a plan has to be expedited with. This coverage of time is necessary to complete the concerned project. A float figure equivalent to zero is thus demonstrative of activities in plan, going as proposed. Following below is a calculation formula for 'total slack':

Float (Total) (TF) = LS - ES

Slack (Total) = LF - EF

A given activity completed in its allotted time, and concurrent start of succeeding activity without any time delay is called 'Free float' (FF). Its calculations are done by deducing the least amount for a TF within all constitute activities of a bigger set of activities. This figure is subtracted from TF values within the same constitute activities of the concerned set of activities. Based on these calculations, FF will always assume a positive value since it is relative differential of two TF values.

Above tabular illustrations indicate activities with FF with red ink.

Explanation of Determination of Project Duration and the Critical Path

The concepts regarding Critical Path Method (CPM) were developed by companies such as Remington Rand and DuPont in the USA. These businesses were looking for opportunities and means to optimize costs and ensure control on business activities. As such the CPM provided a methodology which essentially helped in planning and scheduling of a whole project. Projects are managed and administered efficiently through CPM. CPM essentially sequences an effective critical path and provides a range for the project's completion with respect to time. Further, the total duration of project is indicated through the length of the critical path. A CPM method to project management entails the following factors: 

Identification of all constituent activities in a project. This also entails careful determination of precedence relationships among activities. As such each activity has to be distinguished with respect to ideal time it will consume to complete;

After distinguishing constituent activities of a project, a network diagram is developed that connects sequential activities through nodes or arcs.

Next step, calculations are conducted to identify and evaluate the actual critical path.

Critical path is demonstrated in red ink (refer to network diagram above). CPM ideally include all points were FF was zero. Activities required to form a relevant critical path are:

AB

C F G K LM N O Q

This critical path reveals that the project can be completed in 50 ...