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Lecture 10

BUSI 3309 Lecture 10: Week 10 (Reducing Project Duration)
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Department
Business
Course Code
BUSI 3309
Professor
Paul Kendrick

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Description
Reducing Project Duration Crashing a Project No Resource Constraints o Add resources o Outsource project work o Schedule overtime o Establish a core project team o Do it twice (quick and fast revision) Resource Constraints o Fast track (rearrange critical path activities to be done in parallel) o Critical chain o Reduce project scope o Quality can be compromised CP Method Faster an activity is completed, more the cost Change schedule and you change the budget Crashing Schedule compression technique in which cost and schedule tradeoffs are analyzed to determine how to get greatest compression for lowest incremental cost Only for activities when more resources will reduce duration Crunching a project changes schedule for all activities Often creates unanticipated problems Minimum Cost Schedule Crash only critical activities Crash from least expensive to most expensive Activity can be crashed until: o Its max time reduction o Causes another path to be critical o More expensive to crash than not o Continue until no more activities can be crashed Parameters o NT = Normal completion time o NC = Normal cost to complete o CT = Crash time to complete o CC = Crash Cost o Max Time Reduction = NT CT o Cost to Crash per Period = (Crash Cost Normal Cost)(Crash Time Normal Time)
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