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Questions and Answers
What is project management?
A project schedule includes all terminal elements of the project.
True
What are the two knowledge areas in project management that define what work is to be done, when it is to be done, and who should be doing it?
Time and task management
The critical path of a project is generally determined using the _______________________ method.
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What type of scheduling is the most commonly used?
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In deterministic scheduling, the values such as duration, start and finish dates for activities are probabilistic in nature.
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What is the main purpose of a project schedule?
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What is the focus of the project according to CPM?
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Match the following terms with their descriptions:
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Estimations in deterministic scheduling do not require experience and references of past data.
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What are the three types of estimates in deterministic scheduling?
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In PERT, the program evaluation and review technique is a statistical tool for ____________________ management.
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Match the following terms with their definitions:
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What determines the project duration and start and finish dates in CPM?
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The number of critical activities is always equal to the total number of project activities.
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What is the purpose of statistical tools like PERT, Monte Carlo Simulation, and GERT?
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What is Monte Carlo simulation?
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In deterministic scheduling, the risks are handled as static entities.
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What type of scheduling gives a realistic view of the project plan?
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GERT stands for Graphical Evaluation and Review ______________________.
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Match the following scheduling techniques with their characteristics:
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In probabilistic scheduling, the project manager has an end to end visibility of the projects.
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Study Notes
Project Scheduling and Types of Project Schedule
- A project is an activity that focuses on creating a unique product or service within a definite time period.
- Project management involves guiding project processes to achieve the target, and a project schedule is a key tool for effective project management.
- A project schedule encompasses mapping and planning of every phase of a project's lifecycle, including its budget, duration, and work breakdown structure.
- A successful project schedule ensures efficient time and resource allocation, enabling smooth and efficient project management.
Deterministic Scheduling
- Deterministic scheduling is the most commonly used scheduling technique, where the schedule developed is a network of activities linked by dependencies.
- In this method, the values of duration, start and finish dates for activities are deterministic in nature and are allocated a single value estimation.
- The estimated values roll up to the project level to define project duration, along with start and finish dates.
- The Critical Path Method (CPM) is a statistical tool used in deterministic scheduling.
- The critical path of a project is the longest path of connected activities, driving the project duration, start and finish dates.
- Focus is on the critical path activities, rather than all activities.
Estimations in Deterministic Scheduling
- Estimations require experience and references of past data.
- The chances of successfully completing the project, as per the schedule, depend on the estimations that are deterministic in nature.
- The three-point estimate in deterministic scheduling includes:
- Best case: estimation where everything goes right.
- Most likely case: estimation where activities go on with normal problems and opportunities.
- Worst case: estimation where everything goes wrong.
Statistical Tools
- PERT (Programmable Evaluation and Review Technique) is a statistical tool for project management, analysis, and representation of tasks involved in completing a project.
- Monte Carlo Simulation is a comprehensive range of computational algorithms that use repeated random sampling to achieve numerical results.
- GERT (Graphical Evaluation and Review Technique) is a technique of network analysis used in project management that allows probabilistic treatment of both network logic and estimation of activity duration.
Conclusion
- Deterministic scheduling is the most widely used scheduling technique, where risks are handled as static entities and task and project duration are fixed values.
- This type of scheduling is used where projects are similar in nature and the project manager has end-to-end visibility of the projects.
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Description
Learn about the importance of project scheduling in effective project management, including mapping and planning of every phase from initiation to completion.
