Critical Thinking Homework: Project Management
Length: 6 to 8 pages.
Instructions
Consider a recent project that you have worked on. This could be for a company or organization with which you are familiar, or even a personal project such as purchasing a home or planning a family gathering. After your opening paragraph, which includes your thesis statement, identify your selected company or organization in no more than three paragraphs. Then, complete the following: *Note: for the charts/diagrams, use MS Word, Excel, Google Docs or Google Sheets. You may also use any other suitable project-based software. A free Project management software called Libre.
o Create either a Work Breakdown Structure (WBS) of the project or Gantt Chart for planning and scheduling the project. Discuss why you used the type of chart you did.
o Determine and document both probabilistic (t0, tp, and tm) and deterministic time estimates. Discuss how you arrived at these time estimates.
o Using MS Word, Google Docs, or similar software, create a PERT network diagram with the Critical Path (CP) identified.
o Calculate the slack time for each activity. Discuss the ramifications of slack in the CP for the activities and the project as a whole.
o Develop the network diagram from the probability estimates. Discuss which path you would take and why.
o For each activity, determine hypothetical costs in a table. Include budgeted costs, percent complete, actual/projected cost, and over/under budget (and total). Discuss the rationale for how you derived these costs.
o Crash an activity on the Critical Path. Discuss the ramifications of crashing the activity you crashed.
Format your homework according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.