THE VALUE OF NETWORK ANALYSIS Flashcards
How do you calculate slack
The number on the left is just the number of the node
The node is the circle
The top right number in each node, represents the earliest start time - Represents the first moment that this activity can commence given the activities that beed to be completed before it
The bottom right number of the node represents the latest finish time - Represents the last possible moment this activity should be completed by withotu delaying the project
What does CPA stand for
CPA - Critical Path Analysis
What are the benefits of Critical Path Analysis
Help sto identify all the stages that need to be completed successfully complete a project
Allows businesses to estimate the duration of a project - important to them and their clients
Identifies those activities that are crucial to complete time so the project is not delayed
Identifies activities that can be delayed or lenghened withotu impacting on the overall duration of the project
Helps a business to meet it’s deadlines
Helps a business to meet it’s deadlines
Helps a business to plan resources - which workers or material or equipment will be needed
Can imporve cash flow as workers or materials or equipment can be ordered only when they are needed
The starting point to reschedule activities if problems do rise
What are the costs of Critical Path Analysis
Complex projects are difficult to break down into component tasks
Time consuming
Does not take unforseen circumstances into account
Only as accurate as the data put in to the planning - particularly likely to be inaccurate if a new or unique project
More likely to be successful if constructed with input from all functional areas (i.e. has the operations directot constructed the CPA? what does she know about marketing)
What is the name of the circle
A node
What is the number of on the left of the node
The number of the node
What does the top right number in the node represent
The top right number in each node, represents the earliest start time - Represents the first moment that this activity can commence given the activities that beed to be completed before it
What does the bottom left number in the node represent
The bottom right number of the node represents the latest finish time - Represents the last possible moment this activity should be completed by withotu delaying the project
How do you work out the earliest start times
From left to right
What week do you start at when working out the earliest possible start time
Week 0
WATCH THIS VIDEO SO THAT YOU CAN WORKOUT THE GRID BEFORE MR EVANS WORKS IT OUT
https://www.youtube.com/watch?v=TFzwXMPAo-w&list=PL12ABlJJFqksbtypqtFB–Z1jpqOPi7wS&index=19
