SAB_#63_Analysis_Diagram_Red_Ok

SAB_#63_Analysis_Diagram_Red_Ok

1. Critical path

   • The critical path is the longest duration path through a network diagram and determins the shortest time it could take to complete the project. * Helps prove long the project will take * Helps you determine where to focus your project management efforts. * Helps determine if an issue needs immediate attetion. * Provides a vehicle to compress the schedule during project planning and whenever there are changes. * Shows wich activites have float and can therefore be delayed without delaying
     • Near-Critical Path
       • This path is close in duration to the critical path
         • Total float (slack)
           • Total float is the amount of time an activity can be delayed without delaying the project end date or an intermedary milestone, while still adhering to any imposed shedule constraints.
         • Free float (slack)
           • This is the amount of time an activity can be delayed without delaying the early star date of its sucessor while still adhering to any imposed shedule contrants.
         • Project float (slack)
           • Project float is the amonunt of time a project can be delayed without delaying the exterally imposed project completion date requiered by the customer or managment, or date previously committed to by the project manager

2. Schedule compression

   • During project planning, schedule compression can help a project manager determine if the desired completion date can be met and, if not, what can be changed to meet the requested date.
     • Fast Tracking
       • This techinique involves taking critical path activities that were originally planned in a series and doing instead in parallel for some or all of their duration. Fast tracking often results in rework, usually increases risk, and requires more attention to comunication
     • Crashing
       • This techinique involves adding or adjusting resources in order to compress the schedule while maintaining the original project scope. Crashing, by definition, always results in increased costs, and may increase risk. It trades time for money

3. Modeling

   • The assumptions for each activity can change and, therefore, the activity durations can also change. One of the ways to calculate, or model, the effect of these changes is through a Monte Carlo analysis
     • Monte Carlo Analysis
       • This techique uses computer software to simulate the outcome of a project, based on the three-point estimate (optimistic, pessimistic, and most likely) for each activity and the nework diagram. * The probability of completing the project on any specific day, cost or any activity actually being on the critical path. The overall project risk

4. Resource optimization

   • Resource optimization refers to fiding ways to adjust the use of resources
     • Resource leveling
     • Resource Smoothing

5. Critical chain method

   • The critical chain method is another way to develop a bought-into, aproved, realistic, and formal schedule. The critical chain method uses a network diagram and critical path to develop a schedule by assigning each activity to occur as late as possible to still meet the end date.

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