IB Business and Management Operations Management - Project Management

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IB Business and Management Operations Management 5.8 Project Management

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IBBusinessandManagement.com IB Business and Management The IB Diploma Business and Management course delivered IN STYLE, ONLINE. ©

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z Project management 5.8

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z Project mgmt Large assignments & developments; e.g. the construction of motorways, commercial & residential property The coordination of 100s or thousands of different jobs & tasks

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z Network analysis Critical path analysis Identify the Minimum amount of time needed to complete a project Identify all operations required Determining How long each task will take Identifying all dependencies - activities that can’t start until others are completed Breaking down project into separate jobs & tasks & others which can go on concurrently

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z Baking a cake: network analysis Identify all operations required Determining How long each task will take Identifying all dependencies - activities that can’t start until others are completed Breaking down project into separate jobs & tasks & others which can go on concurrently

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z Baking a cake: network analysis Must be carried out before cooling & eating Must be done in certain order Total = 67 min But parallel activities will reduce this time And critical activities will increase this time if delayed; e.g. putting cake mix into oven to bake And there will be float time free time to prepare for critical activities & ensure project’s not delayed

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z Constructing a network Activity ‘x’ duration # to make it easier to follow; not task # Earliest start time the next task can begin latest finishing time - after this the next task will be delayed

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z Constructing a network 1 b 4 c 5 d 3 e 20 h 10 a i 2 j 5 10 f 7 g EST = Straightforward, except for 6 where two arrows converge. Rule: add longest time taken lfT = ‘rollback’ EST = lft activities deemed to be critical. Latest finishing time same as the earliest start time of next. becomes the Critical path

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IBBusinessandManagement.com NET WORK DIAGRAM - Worked example The IB Diploma Business and Management course delivered IN STYLE, ONLINE. ©

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THE SUPER SIMPLE, BOMB-PROOF SYSTEM TO CONSTRUCTING A NETWORK DIAGRAM z

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THE SUPER SIMPLE, BOMB-PROOF SYSTEM TO CONSTRUCTING A NETWORK DIAGRAM z

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z

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z # EST LFT 1 EST LFT 2 EST LFT 3 EST LFT 5 EST LFT 6 EST LFT 7 EST LFT 8 EST LFT 4 EST LFT A 8 B 6 C 12 D 6 H 14 E 14 F 10 G 3 I 3 J 4 FEED FORWARD – THE LONGEST ROUTE ROLL BACK – THE LONGEST ROUTE 0 8 22 32 35 38 42 20 0 8 22 32 35 38 42 21 CRITICAL PATH KEY

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z The longest an activity can be delayed from its own est without delaying the project To calculate: Lftf - durationf - estf Total float Total floatf = 26 - 10 - 1 = 15 min Total floatg = 33 - 7 - 11 = 15 min ?????? total float isn’t specific to an activity, but to an uninterrupted path i.e. we can’t delay both f & g by 15 min

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z The longest an activity can be delayed without effecting the est of following activities Free float free floatf = 11 - 10 - 1 = 0 min free floatg = 33 - 7 - 11 = 15 min ?????? To calculate: Est (next activity) - duration - est of that activity Conclusion: F can’t be delayed without affecting the free time of g Info used by managers to shift resources & ensure critical activities completed on time

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z Work through the example, p. 720-722 without looking ahead Work through the example, p. 723 without looking ahead Work through the example, p. 724 without looking ahead question 5.8.1, p. 723 question 5.8.2, p. 724 question 5.8.3, p. 727 question 5.8.4, p. 729

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z Construct the diagram for the following project, clearly showing ests, lfts & the critical path, & calculate the respective total & free floats

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z a 2 b 6 d 10 g 8 e 16 f 6 c 8 Float time est & lft not equal Total float: Lftd - durationd - estd 32 - 10 - 8 = 14 Also the free float. Activity d can be delayed by 14 days without delaying the whole project time of 40 days

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z Dummy activity Is a logical dependency between two indirectly linked tasks in a project Eg., plumbing & electrical wiring work are independent of each other, but both need to be completed before plastering of walls can begin A dummy activity is not an activity at all. It is shown by a dotted line on a network diagram. It dos not consume either time or resources It shows a ‘logical dependency’ between other activities that must be included in certain networks to prevent an illogical path from being created

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z Example Dummy activity The activities A and B are at the start of the project. They have no preceding activities C follows a D follows a & b Both c & d require a & b to be finished. But, c only requires a to finish before it can start C starts when a is finished, but d has to wait before both a and b are finished Example: p. 727-728 q. 5.8.4, p. 728 q. 5.8.5, p. 729

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z Dummy activity

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z Value & limitations of network analysis Summary notes embedded in ibbuusinessandmanagement.com

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z Additional question

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z a 2 b 3 d 3 f 2 c 6 e 3 g 3 h 2

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z Additional question

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z

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