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MGSM906 Project Based Management

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MGSM906 Project Based Management

0 Download4 Pages / 900 Words

Course Code: MGSM906
University: Macquarie University

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Country: Australia

Question:

While you can learn a great deal from working with your classmates, this is an individual assignment. In order to learn as much as possible, while keeping the assessment fair, I suggest the following approach:

Do as much of the assignment as you can, working on your own.
Meet in a small group to compare your answers and methods.
Finally prepare your assignment for submission, working alone. The work you hand in must be your own. Do not hand in anything which you don’t understand.

Task (activity) information for a special manufacturing order is shown in the table below. Draw the critical path diagram for the project. Compute the early and late start and finish times for all activities and the slack times for all activities. Identify the critical path. How long will the project take to complete?
You have decided to plan your end of term assignments and exam preparation using the techniques you have learned in Project Based Management. However, you realise that you actually have several deadlines for the different assignments, as well as exams on different days.
You have outlined the estimated work in the table below. Note that you should not plan any work on the days when exams are scheduled (29 October, 31 Oct and 2 Nov).
Use any method you like (such as trial and error) to plan your work schedule, and then show your schedule on a Gantt chart. It is now the evening of Monday 1 October, 2018.
Can you get all the work done in time?
Will you have to work on weekends? Do you have any spare time?
Draw a critical path diagram for this project, assuming no resource constraints.
What is the minimum time for the project?
Develop a loading schedule for each resource, to allow the work to be completed in minimum time.
What is the extra time required because of resource constraints?
What could you do to reduce the time and by how much?
Think back over the first six sessions of this unit, Project Based Management. Identify the two lessons, insights or concepts that you believe will be most valuable to you in your career. Briefly explain what the lessons were, and why you believe they will be valuable to you. The lessons you choose may or may not be actual techniques in project management. However, it is likely that the most valuable lessons could be applied to situations other than in projects. Please be as succinct as possible. There is an absolute limit of 500 words for this question.

Answer:

Question 1
 Critical path

ID

Activity

Duration

Predecessors

A

   Order review

2 days

 

B

   Order standard parts

15 days

1

C

   Produce standard parts

10 days

1

D

   Design custom parts

13 days

1

E

   Software development

18 days

1

F

   Manufacture custom hardware

15 days

3,4

G

   Assemble

10 days

2,6

H

   Test

5 days

5,7

Figure 1: Critical path Showing slack
(Source: Created by Author)
Calculation of critical path
1st Path
A+B+G+H (2+15+10+5) = 32
2nd Path
A+D+F+G+H (2+13+15+10+5) =45
3rd path
A+C+F+G+H (2+10+10+5) = 27
4th path
A+E+H (2+18+5) =25
The longest path is considered as critical path
Therefore, the critical path of the project is A-D-F-G-H
Figure 2: Gantt chart
(Source: Created by Author)
Question 2

Task Id

Description

Duration

Predecessor

Deadline

1

Accounting exam prep

5

Exam on 31 October 2018

2

Marketing project

8

19 October 2018

3

Marketing exam prep

5

2

Exam on 2 November 2018

4

Entrepreneurship business plan

6

24 October 2018

5

Operations management assignment

2

19 October 2018

6

Operations management exam prep

4

5

Exam on 29 October 201

Figure 3: Gantt chart
(Source: Created by Author)
 Yes, all the works of the project are done in time and the project manager does not need to work on the weekends. In addition to this, it is found that the project manager does not have any spare times.
Question 3

Task Id

Task

Resources

Predecessor

Duration

A

Disconnect power and make safe

Elec

1

B

Dismantle and inspect machinery

2Mecg

A

2

C

Check wiring

Elec

A

1

D

Check switches, fuses and relays, and replace if necessary

Elec

A

2

E

Replace worn parts

2 Mech

B

1

F

Install new control system

Mech, Elec

C, D

2

G

Re-assemble machinery and test line

2Mech, Elec

E, F

2

Figure 4: Critical path
(Source: Created by Author)
Minimum time for the project
1st Path
A-B-E-G = 6
2nd path
A-C-F-G=6
3rd path
A-D-F-G= 7
It is found that 6 days is considered as the minimum days for the project.
Figure 5: Gantt chart
(Source: Created by Author)
It is found that 1 day extra is required for resource constraint. It is found that the time of the project can be reduced by undertaking crashing within the project.
Question 4
It is found that the first six sessions of this unit are mainly based on the concept of project management. It is found that out of the six session, two lessons or concepts that are associated with project management are elaborated. The concept of time management as well as risk management is considered as the most valuable concept from the sessions. It is identified that the concept of time management is not only useful within the project but also within the daily life of the human being. If a person can be able to learn about the significance of time management during the life time then this concept will always be helpful in achieving the objectives and aims of human being quite easily. If a project manager has the capability of proper time management then they can be able to complete any of the project w within the expected budget and time and thus the challenges that are associated with the project got resolved.
On the other hand, it is found that proper risk management is not only helpful within the project but also within the life of a human being. It is found that proper risk management processes within the project helps in resolving the risks and challenges from the project so that the entire project gets completed successfully. However, the risk management technique can be applied in other fields during management of any type of work. The technique of risk management assists in providing the idea of treating risks on the basis of the probability so that the risk with highest impact can be resolved easily. This concept can be utilized in our daily life for resolving the issues and challenges that we face every day.
Thus, it is analyzed that both the concept of time management as well as project management that is gained from the session is quite helpful. It is found that proper time management assists in achieving the goals and objectives whereas proper risk management concept helps in resolving the challenges and issues as per the probability of the risk so that the impact of the risk can be reduced. Both the concepts that are mainly gained from the session is not only helpful within a project but they can be applied in some other situations other than projects in order to achieve the goals as well as objectives of any type of work.
References
Hornstein, H. A. (2015). The integration of project management and organizational change management is now a necessity. International Journal of Project Management, 33(2), 291-298.
Joslin, R., & Müller, R. (2015). Relationships between a project management methodology and project success in different project governance contexts. International Journal of Project Management, 33(6), 1377-1392.
Kaiser, M. G., El Arbi, F., & Ahlemann, F. (2015). Successful project portfolio management beyond project selection techniques: Understanding the role of structural alignment. International Journal of Project Management, 33(1), 126-139.
Kerzner, H. (2017). Project management metrics, KPIs, and dashboards: a guide to measuring and monitoring project performance. John Wiley & Sons.
Todorovi?, M. L., Petrovi?, D. ?., Mihi?, M. M., Obradovi?, V. L., & Bushuyev, S. D. (2015). Project success analysis framework: A knowledge-based approach in project management. International Journal of Project Management, 33(4), 772-783.

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