Table of Content
Title  | Page
List of Figures  | iii
List of Tables  | iv
1.  | Introduction  | 1
Q1.1  | Develop a CPM/PERT network for the Moore House Contractors
and determine the probability that the contractors can complete a
house within forty-five days. Does it appear that Moores might
need to increase their bid to compensate for potential penalties? | 1
1.1.1  | Project Network  | 2
1.1.2  | Probabilistic Activity Times  | 7
1.1.3  | Probabilistic Time Estimates  | 8
1.1.4  | Probabilistic Network Analysis  | 8
Q 1.2  | Indicate which project activities Moore Contractors should be
particularly diligent to keep on schedule by making sure workers
and materials are always available. Also indicate which activities
the company might shift from as the need arises. | 11
Q1.3  | Develop an action plan for ensuring compliance with Countryside
Realtors. | 12
1.3.1  | Human Resource plan  | 12
1.3.2  | Timing  | 12
1.3.3  | Resources  | 12
1.3.4  | Action Plan Moore Housing Contractors Model  | 14
Q2  | ``Creating successful project teams is a daunting task for any
project leader, especially when they are pressed to deliver results
within aggressive timescales and tight budgetary constraints.
Building successful project teams is about slotting the right
individuals into designated team roles and fostering team spirit. ``
Select three journal articles from Google Scholar on Project
Management relevant to the statement to critically discuss this
statement. | 16
2.1  | Introduction  | 16
2.2  | Building a high-performance Team  | 16
2.3  | Practices for creating a high-performance team as per Article reviewed  | 17
2.4  | Design a framework of practices for building a high-performance  | 19
ii
team.
2.5  | Evaluate two teams and their practices  | 21
2.5.1  | Team 1 (Adecco Company Group)  | 21
2.5.2  | Team 2 (Zapier` company)  | 22
2.6  | Recommendation and conclusion  | 22
Q3  | Project Risk Analysis and Management (PRAM) is an integrated
program, based on efforts to extend risk management to cover a
project`s entire life cycle.
Critically discuss the key features and phases of PRAM. | 22
3.1  | Introduction  | 22
3.2  | Project Risk Analysis and Management process and its key features  | 22
3.2.1  | Risk Analysis  | 23
3.2.1.1  | Qualitative Analysis  | 23
3.2.1.2  | Quantitative Analysis  | 24
3.2.2  | Risk Management  | 26
3.3  | The benefits of PRAM  | 28
3.4  | Conclusion  | 28
Appendix 1  | 29
4  | References  | xxx
iii
List of Figures
Pages
Figure 1: Process of drawing an AON diagram.  | 3
Figure 2: Critical Path diagram.  | 3
Figure 3: PERT Using Probabilistic Method with 3 Time Estimates.  | 7
Figure 4: Table of probability (Z).  | 8
Figure 5: the percentage area.  | 10
Figure 6: Action plan of the company Moore Housing Contractors.  | 15
Figure 7: Factors successful implementation of high-performance team.  | 17
Figure 8: Motivation theories.  | 20
Figure 9: Risk management strategy chart.  | 23
Figure 10: The project risk management probability/impact grid matrix.  | 24
Figure 11: The categories of probability and Impact.  | 24
Figure 12: The categories of probability and Impact.  | 25
Figure 13: The connections between Cost, Time and Technical Performance.  | 26
iv
List of Tables
Pages
Table 1: The excel spreadsheet and calculate expected time and total for each path.  | 4
Table 2: The value of ES, EF, LS, LF and Slack.  | 5
Table 3: The duration for only critical activities.  | 6
Table 4: Calculate probability using excel.  | 9
1
Question 1
1. Introduction
The project management brings together a set of tools and techniques-performed by people to
describe, organize and monitor the project activities. The Moore Housing Contractors project
is composed of processes, even if it employs a haphazard approach. The report explains the
advantage and planning to organize this project and teams around the project processes. It
involves applying knowledge, skills, tools and techniques to accomplish the project's
objective. This project is a process that includes initiating a new project, planning, putting the
project plan into action and measuring progress and performance. It can identify the project
requirements, establishing project objectives, balancing constraints and tracking the needs
and expectations of the key stakeholders into consideration using PERT and CPM.
Pert (Program evaluation and review technique) used to schedule, organize and coordinate
tasks within a project. It is a methodology developed by U.S Narry in the 1950s to manage
the Polaris submarine missile program.
Furthermore, Pert chart represents a graphic illustration of a project as a network diagram
consisting of numbers nodes representing events or milestones in the project linked by
labelled visitors representing tasks in the project.
CPM (Critical Path method) Consists of that set of dependent tasks on the preceding which
together take the longest time to complete tasks which fall on the critical path should be noted
in some way, so that they may be given special attention. The CPM chart can define a
multiple equally critical path.
1.1. Develop a CPM/PERT network for the Moore House Contractors and determine
the probability that the contractors can complete a house within forty-five days. Does it
appear that Moores might need to increase their bid to compensate for potential
penalties?
Program Evaluation and review technique design to analysis the task involve in completing a
given project, especially the time needed to complete each task, and identifying the minimum
time needed to complete the total project. Pert was developed primarily to simplify the
planning and scheduling of large and complex projects. It was able to incorporate uncertainty
2
by making it possible to schedule a project while not knowing precisely the details and
durations of all the activities. It is more of an event-oriented technique rather than start and
completion-oriented and is used more in R&D type projects where time, rather than cost is
the major factor.
The role of pert was used to determine the expected project completion time, where it shows
the probability of completion before a specified date. Project managers can easily know what
will be the specified date to complete the project by using the pert method to analysis the
critical path of the project because the critical path activities that will provide the critical path
will directly impact on the completion time of the project.
There are six steps which are common to both the technique as follows:
- Define the project and all its activities or tasks. It should have single start activity and a
single finish activity.
- Developing the relationship among the activities decides which activities must precede,
and which must follow others.
- Draw the network connecting all activities. Every activity should have unique event
numbers.
- Assign time and cost estimates to each activity.
- Define the critical path which the longest time through the network.
- Using the network to help planning, monitoring, scheduling and controlling the project.