Project Management Program Evaluation And Review Technique

Probably the most important techniques that a project manager must master is the Program Evaluation and Review Technique (PERT) or Arrow Diagram Method (ADM) as known by the Project Management Institute. This method is one of the most common scheduling models in project management (Meredith Mantel, 2009, p 21). A method that analyzes the probabilities of a project finalizing on time. The PERT identifies the worst, best and most likely case scenarios and aids the project manager in developing a simple project schedule while considering risks and deciding which risks to take. Since every project deals with uncertainty at some level and in some form, the PERT is in my opinion the number one technique that every project manager must be well educated on. Ranking second is the Critical Path Method (CPM) or Precedence Diagram Method (PDM). Also considered next to PERT as one of the most common approaches in project management. CPM adds some strength into the scheduling and planning phases of project management by resolving issues with resource allocation (Meredith Mantel, 2009, p 383). CPM takes into consideration the possibilities of decreasing the duration of the project by analyzing the required tasks and resource availability and needs. Crashing a project is a common approach utilized with CPM since its objective is to shorten the length of the project while considering costs tradeoffs. The third most important tool is the Gantt chart due to its value as a secondaryShow MoreRelatedThe Importance Of A Project Management Skills1117 Words   |  5 PagesThe importance to teach project management skills through this course cannot be emphasized enough as it remains to be the most sought after expertise for organizations across the work force industry. The knowledge imparted through this course has influenced the ability to manage projects by introducing specific frame work customized to the project needs. As the coursework required analyzing projects from diverse industries, it provided an opportunity to assess the project cycle with respect to theirRead MoreApplying Pert And Critical Path Method1181 Words   |  5 PagesAPPLYING PERT AND CRITICAL PATH METHOD IN EVENT MANAGEMENT TABLE OF CONTENTS 1. ABSTRACT 2. INTRODUCTION 3. METHODOLOGY 4. FIGURES 5. METHODOLOGY 6. CONCLUSION 7. REFERENCES LIST OF FIGURES 1. Representing the activities to be performed, the necessary time and its costs 2. Chart PERT representing the tasks between the time and costs of the organization trainer 3. The PERT chart representing the critical path, its cost and the total time of dance training. 4. Representing theRead MoreLevel 2 Skills Essay1302 Words   |  6 Pages I can document annual evaluations for 8 direct reporting employee and review annual evaluations for 83 second-line reporting employees; well enough to ensure accurate reporting and documenting of performance. B. The Knowledge and Cognitive Dimension The Knowledge Dimension If I have knowledge of, Factual: the Employee Performance Evaluation is processed within the CAPPS (Centralized Accounting Payroll/Personnel System). I am able to access, view, and select evaluation actions for each directRead MoreProject Management Scheduling1657 Words   |  7 PagesTitle Successful Project Management Scheduling outcomes: A Theoretical Comparative Analysis of networking techniques between Event, Chain with other traditional methodologies Research Question Why it is important to conduct a comparative analysis of Event, Chain with other traditional methodologies and investigate how it contributes in being Successful scheduling techniques in Project Management discipline? Introduction to Dissertation Nowadays, Project scheduling plays lot of benefactorRead MoreOverview Of An Implementation Of A Healthcare System1577 Words   |  7 Pagessystem As lead project manager, I will be creating an implementation of a new EHR system for a large multi-campus hospital system. Below I will be providing information regarding the methods that will be ensure a successful adoption of the new system. EHR is patient information collected electronically using a data warehouse so clinical information can be shared within healthcare organizations (Harrison, 2016). The process in which I am following will include, applying quality management tools, performanceRead MoreMis Project Management At First National Bank1747 Words   |  7 PagesMIS Project Management at First National Bank Summary of Findings Despite First National Bank (FNB) is one of the fastest growing banks in Midwest, during the created and implement the Information Services Division (ISD), in its project management some problem can be identified. The following these factors are the primary deficient of the project has been tabled: 1) The decision-making process of ISD is too long and high temporal cost of Priority Committee; 2) The organizational structure is notRead MoreImproving The Poor Estimating Methods Of Using Dummy Variables765 Words   |  4 PagesIn the event there was poor estimating techniques used will cause risk management into the process to have to overcome unknowns. Some techniques to improve the poor estimating techniques is developing the process. According to Kerzner (2013), functional managers typically allocate the possibility additional required time or cost for cushion. The inflation of the allocated time or cost will time to ratify challenges. But in order to prevent poor estimating time i n the future our organization can talkRead More Time and Cost Estimating Techniques Essay1233 Words   |  5 PagesCost Estimating Techniques Estimating work times provides several benefits for the project manager. It gives an idea of the level of effort required to complete a project. This information then enables the project manager to produce a realistic plan based upon that effort. Estimating also helps the project manager anticipate the budget for the project. There are many formal techniques available to estimate time and cost for activities. Please refer to the Project Management Reference SectionRead MoreDesign And Development Of Simulator For Risk Analysis1680 Words   |  7 Pagesdone by the project manager is to maintain the balance between time and cost and also adjust the optimal project schedule. To resolve the schedule and cost risk of the software the Monte Carlo Simulation method is used with the help of Program Evaluation and Review Technique (PERT ) . With this technique the Schedule and cost risk will be analyzed so the project manager can apply or implement some mitigation process on software on the right time. Keywords- Scheduling; Risk analysis; Program EvaluationRead MoreProject Management And The Roles And Responsibilities Of Project Manager922 Words   |  4 Pages Initially I had a view that project management is organized planned objective of an organization with the consideration of all other constraints like budget cost, man-power and utilizing resources. From the classes my knowledge on project management has enhanced. Here I comes to know the different kinds of management in an organization and the roles and responsibilities of project manager, line manager, functional manager and sponsor. Project manager responsible for coordinating and merging activities