Lecture 4 Flashcards
1
Q
what can a PM do to reduce risks regarding co-ordination?
A
Produce a good network diagram
2
Q
list 4 types of network diagram methods
A
- Critical path method (CPM)/Arrow Diagram method (ADM)
- Program Evaluation and Review Technique (PERT)
- Precedence Diagram method (PDM)
- Graphical Evaluation and Review Technique
3
Q
What is the purpose of network diagrams?
A
To form a visual network of activities which can be ranked according to time and function
4
Q
7 Network Benefits
A
- shows the sequential details of a project plan
- allows PM to ‘solve precedence’ (importance order)
- identify efficiency opportunities
- calculate activity times and their uncertainties
- identify the critical path and time of the project
- allow for slack of activities (amount of time that can delay a project without affecting subsequent activities)
- calculate realistic time estimates of individual tasks and completion time
5
Q
3 time estimates
A
- optimistic
- most likely
- pessimistic
6
Q
how is the uncertainty in project completion time assessed?
A
Uncertainty is found from standard normal deviate based on activities on critical path
7
Q
How do you read a cumulative probability graph. (to left, right, and from mean)
A
(a) left - simply read off,
(b) right- 1 - (a)
(c) mean to value - (a) -0.5
