MGT 150 Project Management 2015 University Of Management

Mgt 150 Project Management12015 University Of Management And Technolo

MGT 150. Project Management Assignment ) The following table shows the allocation of work assignments and resources needed for an investment firm to make a decision on investing in company XYZ. Task ATask BTask C Profolio ManagersWeek 1(S)-Week3 (P) Associates-Week 1 (P)Week2 (S) AnalystsWeek 1 (P)Week 2 (P)Week2 (S) (P)=Primary (S)=Secondary Task A Task B Task C Profolio Managers Week 1(S) - Week3 (P) Associates - Week 1 (P) Week2 (S) Analysts Week 1 (P) Week 2 (P) Week2 (S) (P)=Primary (S)=Secondary Resource Speadsheet ResourceWeek 1Week 2Week 3 Profolio Manager 11 Associate 12 Analyst 25 Note: figures in spreadsheet are person-weeks of effort Resource Speadsheet Resource Week 1 Week 2 Week 3 Profolio Manager 1 1 Associate 1 2 Analyst 2 5 Note: figures in spreadsheet are person-weeks of effort Create Responsibility Matrix Create Resource Gantt Chart Create Resources Loading Chart 2) Building a swimming pool TaskWorker CategoryPerson Days # of Workers Elapsed Time (days) Materials ($) ExcavateMachine Operator,500.00 Frame the wallsMasons.00 Install Internal PlumbingPlumber.00 Install ElectricityElectrician.00 Pour concreteMasons,000.00 Install pump and filterPlumber,000.00 Total8,500.00 Task Worker Category Person Days # of Workers Elapsed Time (days) Materials ($) Excavate Machine Operator ,500.00 Frame the walls Masons .00 Install Internal Plumbing Plumber .00 Install Electricity Electrician .00 Pour concrete Masons ,000.00 Install pump and filter Plumber ,000.00 Total 8,500.00 CategoryWage Rate $/Day Electrician200.00 Mason160.00 Machine Operator120.00 Plumber200.00 Category Wage Rate $/Day Electrician 200.00 Mason 160.00 Machine Operator 120.00 Plumber 200.00 Create a Gantt chart from the work breakdown structure. Create a PERT/CPM network showing the interdependencies of the different activities. How long will the project take? (Note: Don’t forget to take “elapsed time†into account.) Using the information in your Gantt chart, as well as the information on wage rates and cost of materials, put together a budget showing planned total expenditures for the project. 3) Following are cost and schedule data for a project that is underway. Project Cost Data MonthPlanned Actual Project Cost Data Month Planned Actual Project Schedule Data Task Planned Starting Month Planned Duration (months) Actual starting month A1223 B2335 C4363so far D6572so far E84Not yet begun F103Not yet begun Actual Duration (mths) Project Schedule Data Task Planned Starting Month Planned Duration (months) Actual starting month A B C so far D so far E 8 4 Not yet begun F 10 3 Not yet begun Actual Duration (mths) Using the cost data in the cost table above, create a cumulative cost curve comparing actual versus planned costs Using the schedule data in the schedule table above, create a Gantt chart comparing actual versus planned schedule performance Summarize in words what you see project status to be at this time. What do you predict regarding the final cost and final schedule for the project?

Paper For Above instruction

Restructuring project management tasks to ensure effective resource allocation, scheduling, and cost control is essential for project success. This paper addresses the various components involved in project planning, scheduling, resource management, budgeting, and performance evaluation, using specific case examples and industry standards.

Introduction

Effective project management requires comprehensive planning and analysis to meet project objectives within scope, time, and budget constraints. The assignment tackles creating responsibility matrices, resource Gantt charts, resource loading charts, work breakdown structures, PERT/CPM networks, and cost performance analysis. These steps facilitate better decision-making, optimize resource utilization, and enable proactive responses to project deviations.

Part 1: Investment Firm Project Analysis

The initial task involves managing project assignments for an investment firm considering an investment in company XYZ. The key activities include resource allocation among portfolio managers, associates, and analysts over designated weeks. Creating a Responsibility Matrix helps clarify roles, while Gantt and resource loading charts visualize task timelines and resource utilization.

The responsibility matrix documents who is accountable for each task during specific periods. For example, Portfolio Managers are primarily involved from Week 1 to Week 3, with secondary responsibilities in some weeks. Associates and analysts follow similar patterns, with effort expressed in person-weeks, facilitating resource planning. The resource spreadsheet data reveals the total person-weeks needed per resource category across the project timeline.

Developing the Gantt chart involves plotting the tasks over time, illustrating their start and end dates, and dependencies. The resource loading chart indicates workload per resource category, allowing for identifying potential over-allocation or underutilization. These tools support project managers in balancing resources and scheduling activities effectively.

Part 2: Building a Swimming Pool Project

The swimming pool construction project encompasses multiple tasks executed sequentially or concurrently, including excavation, wall framing, plumbing, electrical, concrete pouring, and equipment installation. Each task has designated worker categories, required person-days, number of workers, elapsed time, and materials cost.

Creating a work breakdown structure (WBS) helps organize tasks hierarchically, ensuring all project components are accounted for. Developing a Gantt chart from the WBS visualizes task durations, overlaps, and critical paths. For example, excavation and wall framing may proceed concurrently, followed by plumbing and electrical installations, culminating in concrete pouring and equipment setup.

The PERT/CPM network diagram illustrates task dependencies, critical paths, and total project duration, taking into account elapsed times for each task. Using estimated labor wages—$200/day for electricians, $160/day for masons, $120/day for machine operators, and $200/day for plumbers—and material costs, the budget can be assembled. This involves calculating total labor costs for each task based on person-days and wage rates, added to the material costs, giving a comprehensive expenditure forecast.

Part 3: Project Cost and Schedule Performance Analysis

The final segment involves analyzing ongoing project performance based on provided planned and actual data. The cost data encompasses monthly planned versus actual expenditures, enabling the plotting of a cumulative cost curve. This curve helps identify cost overruns or underruns over time.

The schedule data compares planned starting months and durations with actual progress, facilitating the creation of a Gantt chart contrasting actual versus planned schedules. Variances in task completion times reveal schedule slippages or accelerations. For example, if Task C was scheduled for four months starting in Month 3 but has extended to six months, the schedule deviation is evident.

Overall assessment indicates whether the project is on track, under or over budget, and whether corrective measures are needed. If the actual costs exceed planned costs and schedule delays are present, the likelihood of final cost overruns and schedule extensions increases. Moreover, trend analysis and forecasting tools enable projecting the final project outcome, guiding decision-makers in resource reallocation or scope adjustment.

Conclusion

Effective project management combines detailed planning with continuous monitoring. Tools like responsibility matrices, Gantt charts, resource loading charts, PERT/CPM networks, and cost control curves are integral for ensuring project objectives are met efficiently. Project managers can leverage these analytical tools to anticipate issues, optimize resource usage, and deliver projects within scheduled timeframes and budgets.

References

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