Project Management Essay Example | Topics and Well Written Essays - 2500 words - 3

Project Management - Essay Example Earliest Finish Time (EFT) = Earliest Start Time (EST) + Duration Latest Start Time (LST) is calculated by adding float to LST of the critical activity in the group. Latest Start Time (LFT) = Latest Start Time (EST) of critical activity + total float Latest Finish Time (LFT) is calculated by adding duration to LST of the activity. Latest Finish Time (LFT) = Latest Start Time (LST) + Duration Total Float is calculated by subtracting The Earliest Start time (EST) and duration from Latest Finish Time (LFT). Total float = LFT - EST - duration 2) Explain how you determined the project duration and the critical path In order to calculate the project duration, we first need to identify critical path. A critical path is the one that holds series of dependable activities which as whole gives the longest time to complete the project and these activities within critical path are called critical activities. In other words, it is series of activities with â€Å"Zero total Float† (Newell, 2 005). ... Time Required Immediate Predecessor Activities EST EFT LFT LST (days) A 4 - 0 4 4 0 B 5 A 4 9 12 7 C 4 A 4 8 12 8 D 8 A 4 12 12 4 E 6 A 4 10 12 6 F 2 A 4 6 12 10 G 13 B,C,D,E,F 12 25 25 12 H 8 G 25 33 33 25 I 7 H 33 40 40 33 J 6 H 33 39 40 34 K 8 I,J 40 48 48 40 L 13 K 48 61 61 48 M 9 L 61 70 70 61 N 4 M 70 74 74 70 O 5 B 9 14 86 81 P 12 N 74 86 86 74 Q 2 O,P 86 88 88 86 PROJECT DURACTION 88 DAYS    Critical Path 3) If the project starts on the Monday 7 January 2013, what is the earliest date it can be completed using a 5 working day week? Assume no holidays. If the project starts on the Monday 7 January 2013 On the basis of 88 days of total project duration, the earliest date when the project can be completed is the 8th of May, 2013. The date is calculated by counting 88 days from 7 January, 2013 excluding Saturday and Sunday. 4) If the following happened what would be the effect on the duration of the whole project? a) Activity B is delayed 1 day. Activity B is not a critical act ivity and has total float of 3 days, 1 day delay during activity B will not affect the duration of the whole project. b) Activity P is delayed 1 day. As activity P it is a critical activity, a 1 day delay during activity P will increase the duration of the whole project by 1 day, thereby making it to 89 days. c) Activity O is delayed 2 day. Activity B is not a critical activity and has a total float of 72 days, 1 day delay during activity B will not affect the duration of the whole project. 5) Limitations of network diagrams The main limitation of a Network diagram is: do not clearly show time line for a project, it is difficult to update, do not lead to easy distribution and the tools can be expensive to acquire. TASK 2 Abstract The project management main goal is delivering a project