Project Management

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The response addresses the queries posted in 580 & 1251 words with references.

// Before writing about the project management, it is essential to gain knowledge about the project planning tools. One should know about the project planning tool to understand the project management effectively//

Project Planning Tools

In general, the management utilizes various methods and techniques for planning, scheduling and controlling the large & complex projects. Here, two techniques- Critical Path Method & Gantt Chart are discussed in this regard.

Critical Path Method: The Critical Path Method is an exclusive technique of making decisions related to the project. Here, obstacles in the execution of activities are identified & efforts are made to overcome them. It employs two time & two cost estimates for each activity. In fact, one time & cost estimate is made for the normal situation and the other time and cost estimate is made for crash or critical situation. This technique operates with an assumption of precise known time and does not use statistical analysis for determining the time estimates. Also, the Critical Path Method (CPM) charts are similar to PERT charts. (Agarwal & Mishra, 2007)

Gantt chart: Similarly, the Gantt chart is a tool for planning & controlling the project. In fact, it is a graphical representation of different jobs, tasks or activities across time periods. Generally, the individual tasks are mentioned on the left hand side and the scheduled times for completing each task is shown along a horizontal time scale. Apart from explaining the dependency relationships between the activities, these charts show the status of current schedules. Simultaneously, they demonstrate the various groups of milestones and individual resources scheduled to time. (Modell, 1996).

//Above is the explanation of project planning tools. Moving to the next direction, explanation regarding the methods required to develop different types of charts is to be thrown light upon//

Ease in making these charts: In the case of CPM charts, the tasks that lie on the critical path should be observed and then special attention should be paid to them because any delay in these activities can lead to a delay in the project. Also, these charts are based on a deterministic model where results are ascertained in a manner of certainty. On the other hand, the Gantt charts are designed for small projects that fit on a single sheet or screen. It is very difficult to draw these charts as they can be awkward for projects having large no. of tasks. As the horizontal bars of the chart have a fixed height; they can misrepresent the requirements of a project. Thus, it is comparatively easy to draw CPM charts.

//Above is the explanation of methods required to develop different charts. As per the instructions, now I will move towards the comparison of different charts//

Critical Path Method vs. Gantt chart:

I will recommend the Critical PATH Method as a tool for project planning as it is deterministic in nature and easier to understand as compared to the Gantt chart. Moreover, CPM charts are far more convenient to draw owing to their simplistic nature. In contrast, Gantt charts may not prove to be appropriate for all computer displays and provide less information for each unit area of display. Subsequently, they are complex in nature.

// I hope the assistance ...