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Project Management

Application of knowledge, skills, tools and techniques to project activities to meet project requirements



o A temporary endeavor undertaken to create a unique product, service or result
o Have start and ending point where people and resource to the project are assigned
o Non-routine work that can be large or small and hard to manage
o Require significant levels of cross-functional and interorganizational coordination


Day to day Task

Does not end


Project Phases

1.) Concept phase
2.) Project definition phase
3.) Planning phase
4.) Performance Phase
5.) Postcompletion phase


Concept phase

 Develop a broad definition of what the project is and what the scope will be
 Not many resources/people


Project definition phase

- Identify how to accomplish the work
- How to organize the project
- Key resources and personnel required (moderate level)
- Tentative schedule and budget requirements


Planning phase

- Preparing detailed plans that identify activities, time, and budget targets, and the resources needed to complete each task while also putting into place the organization that will carry out the project.
- Lots of people and resources


Performance phase

- Organization starts to execute the project plan
- Lots of resources and people


Postcompletion phase

- Project manager or team confirms the final outcomes, conducts a postimple mentation meeting to critique the project and personnel and resigns project personnel
- Little resources and people



- A performance or time target of each major group of activities in a project
- The project will not happen if this major thing does not happen
- Ex: planning a wedding- dress is purchased


Gnatt Chart

Graphical tool used to show expected start and end times for project activities and to track actual progress against these time targets (typically bars)


Network Diagrams

- Graphical tool that shows the logical linkages between activities in a project
- Circles with lines


Critical Path

- A network based technique in which there is a single time estimate for each activity
- It is the longest path from the beginning to the end
- The tasks on the project plan that when strung together are the longest
- All activities on the path are necessary


Critical Activity

- Project activity when the earliest start time and last start time are equal
- No wiggle room


Fastest Completion

In a path, there are multiple paths, one is faster


Crashing a project

- Used when wanting to shorten a project by reducing the time it takes to perform certain activities
- Some tasks cannot be crashed (like time for paint to dry)


Master Schedule

- A detailed planning process that tracks production output and matches this output to actual customer orders
- Determines when products will be made and orders will be filled
- Comes from a high level
- More broad than MPR


Master Schedule Records

- Forecasted Demand (FD)
- Booked Orders (BO)
- Projected Inventory Lines (PEI)
- Production Quantities
- Availibility to Promise


Avilability to Promise (ATP)

Units still available to meet customer needs


MPR (Material Requirements Planning)

- A planning process that translates the master production schedule into planned orders for the actual parts and components needed to produce the master scheduled items
- More detailed than master schedule


MPR Records

- Gross Requirments (GR)
- Scheduled Recipts (SR)
- Projected Ending Inventory (PEI)
- Net Requirments (NR)
- Planned Receipts (PR)
- Planned Orders (PO)


Gross Requirements

Amount of stuff you must purchase to produce demand


Dependent Demand Inventory

- Inventory items whose demand levels are tied directly to the production of another item
- Knowing you need two wheels per bike, once you know how many bikes you need then you know how many wheels you will need to purchase


Independent Demand Inventory

There is no mystery about how many dependent demand items a firm will need


Product Structure Tree

- Record or graphical rendering that shows how the components in the Bill of Materials are put together to make level 0 item
- Ex: how components of a chair come together to make the chair


Critical Ratio

- Time that it will take me to produce my tasks under the total time frame until due
- If you have multiple tasks to get done you do the jobs with the lowest because you have more time in other categories
- It helps when looking at what you need to schedule first


Distribution Requirements Planning (DRP)

Records are almost identical to MRP records with one exception

- They show forecasted demand instead of gross requirements
- Activities are synchronized when their total weekly planned orders become forecasted demand in the factory’s master schedule


Inventory Cycle

- Cycle Stock
- Safety Stock
- Transportatino Inventory


Cycle Stock

- Components or products that are received in bulk by a downstream partner, gradually used up, and then replenished again in bulk by the upstream partner
- Stuff that you use over and over
- Used in everyday cycle of what you are using


Safety Stock

- Extra inventory that a company holds to protect itself against uncertainties in either demand or replenishment time
- Company has no intentions of using it and it is not backup