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In these Lecture Slides of Human Resource Management, the Lecturer has put emphasis on the following key points : Best Practice, Schedule Risk, Inherent, Development, Complex Systems, Suggests, Project Milestones, Tracking Significant, Achievements, Milestones
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๏ Schedule risk is inherent in the development of complex systems ๏ Luc Richard, the founder of www.projectmangler.com, suggests that project managers can reduce schedule risk through project milestones, a best practice that involves identifying and tracking significant points or achievements in the project
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๏ The five key points of using project milestones include the following:
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๏ CPM is a network diagramming technique used to predict total project duration ๏ A critical path for a project is the series of activities that determines the earliest time by which the project can be completed ๏ The critical path is the longest path through the network diagram and has the least amount of slack or float ๏ Slack or float is the amount of time an activity may be delayed without delaying a succeeding activity or the project finish date
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๏ First develop a good network diagram ๏ Add the duration estimates for all activities on each path through the network diagram ๏ The longest path is the critical path ๏ If one or more of the activities on the critical path takes longer than planned, the whole project schedule will slip unless the project manager takes corrective action
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๏ A project team at Apple computer put a stuffed gorilla on the top of the cubicle of the person currently managing a critical task ๏ The critical path is not the one with all the critical activities; it only accounts for time ๏ Remember the example of growing grass being on the critical path for Disneyโs Animal Kingdom ๏ There can be more than one critical path if the lengths of two or more paths are the same ๏ The critical path can change as the project progresses
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๏ Free slack or free float is the amount of time an activity can be delayed without delaying the early start of any immediately following activities ๏ Total slack or total float is the amount of time an activity may be delayed from its early start without delaying the planned project finish date ๏ A forward pass through the network diagram determines the early start and finish dates ๏ A backward pass determines the late start and finish dates 38
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