between the Critical Path Method (CPM) and Program Evaluation and Review Technique (PERT) A complex project would normally encounter several delays and may surpass the budget allocated for it making a project very costly and which may lead to losses. While may Project techniques fail in solving these problems‚ there are two (2) tools which have proven to be effective. * Critical Path Method (CPM) * Program Evaluation and Review Technique (PERT) Summary: 1. CPM is a technique used in projects
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Concepts 4.0 Program Evaluation and Review Technique (PERT/CPM) This concept is taken from Module 8 (”Planning- II”)‚ Block 1(’ Organization‚ planning and staffing’). PERT is a project management tool employed in scheduling‚ organizing and coordinating various tasks within an organizational project. It is mainly a method use to analyze various tasks involved in accomplishing an identified project in respect to the time required to complete each of the task‚ and also to find out the least time required
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Course MBA – 2nd Semester Subject Operations Research Assignment MB0048 – Set 1 Q.1. (a) what is linear programming problem? (b) A toy company manufactures two types of dolls‚ a basic version doll- A and a deluxe version doll-B. Each doll of type B takes twice as long to produce as one of type A‚ and the company would have time to make maximum of 1000 per day. The supply of plastic is sufficient to produce 1000 dolls per day (both A & B combined). The deluxe version requires
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PROJECT EVALUATION REVIEW TECHNIQUE (PERT) AND CRITICAL PATH METHOD (CPM) Project Evaluation Review Technique and Critical Path Method (CPM) are scheduling techniques used to plan‚ schedule‚ budget and control the many activities associated with projects. Projects are usually very large‚ complex‚ custom products that consist of many interrelated activities to be performed either concurrently or sequentially. The planning horizon for PERT/CPM typically extends beyond the six-month time frame
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CHAPTER 1: OPERATIONS AND PRODUCTIVITY TRUE/FALSE 1. Some of the operations-related activities of Hard Rock Café include designing meals and analyzing them for ingredient cost and labor requirements. True (Global company profile‚ easy) The production process at Hard Rock Café is limited to meal preparation and serving customers. False (Global company profile‚ easy) All organizations‚ including service firms such as banks and hospitals‚ have a production function. True (What is operations management
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|Lovely Professional University‚ Punjab | | | | | | |
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References: Beasley‚ Mark‚ Bradford‚ Marianne‚ and Pagach‚ Don “Outsourcing? At Your Own Risk” Strategic Finance (July 2004)‚ pp. 23-29 Davis‚ P. M. “From Scientific Management to Pert-An Evolution” Nebraska Journal of Economics and Business (1966)‚ pp. 34-45 Elmuti‚ Dean‚ Grunewald‚ Julian‚ and Abebe‚ Dereje “Consequences of Outsourcing Strategies on Employee Quality of Work Life‚ Attitudes‚ and Performance” Journal of Business
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with the most activities. d. longest time path throught the network. e. none of the above. 7. Given an activity’s optimistic‚ most likely‚ and pessimistic time estimates of 4‚ 14‚ and 18 days respectively‚ compute the PERT expected activity time for this activity. a. 14 b. 12 c. 11 d. 13 e. none of the above. 8. Given an activity’s optimistic‚ most likely‚ and pessimistic time estimates of 2‚ 10‚ and
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CPM - Critical Path Method In 1957‚ DuPont developed a project management method designed to address the challenge of shutting down chemical plants for maintenance and then restarting the plants once the maintenance had been completed. Given the complexity of the process‚ they developed the Critical Path Method (CPM) for managing such projects. CPM provides the following benefits: Provides a graphical view of the project. Predicts the time required to complete the project. Shows which
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Materials‚ Manpower‚ and Machinery. d. Gantt charts are expensive. e. All of the above are true. a (Project scheduling‚ moderate) 3. Which of the following statements regarding PERT times is true? a. Optimistic time estimate is an estimate of the minimum time an activity will require. b. Optimistic time estimate is an estimate of the maximum time an activity will require. c. The probable
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