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Human Resource is an integral part of Management Science. In these Lecture Slides of HRM, following key concepts are discussed : Network, Duration Estimating, Actual Amount, Activity Plus, Workdays, Equal Duration, People, Pessimistic Estimate, Four Weeks, Pessimistic Estimate
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Before estimating activity durations, you must have a good idea of the quantity and type of resources that will be assigned to each activity Consider important issues in estimating resources How difficult will it be to do specific activities on this project? What is the organization’s history in doing similar activities? Are the required resources available? A resource breakdown structure is a hierarchical structure that identifies the project’s resources by category and type 22
Instead of providing activity estimates as a discrete number, such as four weeks, it’s often helpful to create a three-point estimate An estimate that includes an optimistic, most likely, and pessimistic estimate, such as three weeks for the optimistic, four weeks for the most likely, and five weeks for the pessimistic estimate Three-point estimates are needed for PERT and Monte Carlo simulations
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Uses results of the other time management processes to determine the start and end date of the project Ultimate goal is to create a realistic project schedule that provides a basis for monitoring project progress for the time dimension of the project Important tools and techniques include Gantt charts, critical path analysis, critical chain scheduling, and PERT analysis
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Note: Darker bars would be red in Project 2007 to represent critical tasks
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Milestones should be: S pecific M easurable A ssignable R ealistic T ime-framed
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