Monte Carlo Analysis – computer simulation of project outcomes using PERT estimates; result represented in S curve. Milestone Chart: Significant events; good for communicating status to top management.
Total Float – amount of time that an activity may be delayed from early start without delaying the project finish date “Start no earlier than” & “Finish no later than” – Respectively #1 and #2 most popular date constraint in project management software. No Resources shown Hammock Activity – O/p of Schedule Development - For Control and management communication, the broader more comprehensive summary activity called Hammock Activity is used between milestones or across multiple interdependent work packages.
Project length is one of the most important cost considerations on any construction project.
For a contractor, the major benefit of using CPM on a construction project is that the job can be built on paper to determine the shortest, most effective and profitable approach.
A box (sometimes called a node) represents each task, and a line connecting two boxes represents the dependency between the two tasks.
It is possible to create a new project in the Network diagram or modify an existing project by adding and linking tasks.
The techniques for displaying the schedule are the Milestone Chart, the Task List, the Gantt Chart (Bar chart), the Network Diagram, the Two Dimensional Task List, and the Calendar View.
The Descriptive Network Diagram view is identical to the Network Diagram view, except for the size, and the detail of the boxes that represent tasks.For information on creating schedule estimates, please refer to Project Estimating.The milestone chart is portrayed on a project time line. These milestones are typically associated with some major element of project risk, such as passing a test or gaining approval from a regulatory agency.The NETWORK DIAGRAM which has evolved from the PERT Chart is a diagrammatic view of the tasks where the position of the task and the lines linking them together represent the detailed steps that comprise the project.The Network Diagram view displays tasks and task dependencies in a network or flowchart format.