BUSINESS STUDIES

Project Management
Scenario: You are a consultant with expertise in project management strategies. Select a possible project management situation from your current or future professional experience. As a project management consultant, you are tasked with developing a project management plan for this project. Your goal is to maximize the time, resources and finances associated with the project in the best interests of the business/company. You will need to write a professional memo to the business/company owner describing the management of the project.
Use Excel QM to create the project.
Your professional memo should include:
1. Create the PERT/CPM activity network for your project that includes at least five activities and at least one predecessor activity.
2. Estimate the optimistic, most likely, and pessimistic times to then determine an expected time for each activity.
3. Determine all activities that are on the critical path.
4. Identify the slack time (if any) associated with activities in the project.
5. Create a Gantt chart to show the project timeline.
Address the following questions in your professional memo:
• What is the overall timeline for this project?
• What activities are critical for established timeline of the project?
• What activities have flexibility in completion that would not impact the overall project timeline?
• What time, resources and money might be affected by any changes to activities throughout the project?
• What recommendations would you suggest to prioritize the company’s time, resources and money with regards to the project?