Unit V: Project Management

What is a Network Diagram?

A Network Diagram is a graphical representation of a project’s activities and the sequence in which they must be completed. It helps visualize:

• The flow of work
• The critical path
• The dependencies between activities

Basic Elements

• Activity: A task or work (represented by an arrow or box)
• Event / Node: A point in time when an activity starts or finishes
• Network: Combination of activities and events showing project flow

Rules for Drawing a Network Diagram

Example Symbols

Summary

• Always draw networks from left to right
• Activities = arrows; events = nodes
• Follow precedence relationships
• Use dummy activities to avoid confusion
• Helps in identifying critical path, total project duration, and dependencies

What are CPM and PERT?

Common Applications of CPM and PERT in Project Planning & Control

1️⃣ Project Scheduling

• Helps determine the start and finish time of each activity.
• Identifies critical path—the longest path through the network, which decides the minimum project duration.

2️⃣ Time Management

• Helps calculate earliest start (ES), latest start (LS), earliest finish (EF), and latest finish (LF).
• Ensures deadlines are met by focusing on critical tasks.

3️⃣ Resource Allocation

• Efficiently assign resources (labor, materials, machinery) to critical activities.
• Avoids overloading or underutilizing resources.

4️⃣ Risk Management

• PERT helps handle uncertainty in activity durations by estimating optimistic, pessimistic, and most likely times.
• Provides a probabilistic analysis of project completion time.

5️⃣ Monitoring & Controlling

• Tracks project progress against the planned schedule.
• Enables rescheduling if any delay occurs in critical path activities.

6️⃣ Decision Making

• Aids in deciding whether to crash (reduce) project duration by increasing resources.
• Compares alternative project schedules and timelines.

7️⃣ Improving Coordination

• Facilitates better coordination among teams by showing task dependencies.
• Helps managers assign tasks effectively and reduce confusion.

8️⃣ Budget Control

• Supports cost-time trade-off analysis in CPM.
• Helps in preparing a realistic project budget and minimizing cost overruns.

📊 Real-Life Applications

What is a Gantt Chart?

A Gantt Chart is a visual project management tool that displays:

• Project tasks/activities on the vertical axis
• Time duration on the horizontal axis
• A bar represents each task's start date, duration, and end date

Features of a Gantt Chart

Benefits of Using a Gantt Chart

Example of Gantt Chart (Simplified)

Tools to Create Gantt Charts

• MS Excel
• MS Project
• Trello (with Gantt plugin)
• Asana / ClickUp / Monday.com
• Google Sheets (manually or with templates)

📌 Summary

• A Gantt Chart helps manage project tasks over time
• It improves planning, scheduling, tracking, and communication
• It is widely used in construction, IT, event management, education, etc.

Video Explanation 👇

Link 👉 Unit 5 Numerical Playlist