Once a project is accepted for implementation, the next job is work out its detailed schedule. The implement schedules are worked out in terms of months, weeks, days and hours. There are many tools to evolve the sequential steps to be followed in a project implementation and also monitor the progress of project on similar basis.
The important of such tools is that they help in identifying hidden stages for project estimates. These estimates have a great impact in deciding the completion dates for projects.
NETWORK ANALYSIS:
Network is a set of symbols connected with each other in sequence. Each step indicates a stage in the project and its completion indicates the progress. They also show the dependencies such as which activity follows the other activity(s) and how delay in one or more them may affect project progress.
There are many network analysis tools available. Some of the well known are
PERT- Project Evaluation and Review Technique
CPM- Critical Path method
PERT
Developed in a missile project during 1950's. PERT helps implementers to find and sequence activities and helps them reduce time and other resource costs
In PERT- first all activities are listed- sequence and relationship between them established and critical activities are determined.
PERT helps in determining expected time of project completion
PERT limitations include that it is very expensive for reviewing
CPM
Developed by Dupont during 1950's.
CPM differentiates Planning and Scheduling
Planning determines activities to be carried out and
Scheduling introduces time frames to each activities
Advantages
CPM advantage is that it makes control easy for management
It Helps better planning
Disadvantages
CPM assumes that there is a standard time for completion of each activity
It is not a dynamic control tool
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