BUSI 3309 Study Guide - Final Guide: Critical Path Method

• School: Carleton University
• Department: Business
• Course: BUSI 3309
• Professor: Paul Kendrick

Document Summary

Pert: a network analysis technique used to estimate project duration when there is a high degree of uncertainty about the estimates. The project network: a flow chart that graphically depicts the sequence, interdependencies, and start and finish times of the project job plan of activities that is the critical path through the network. The project network helps: ec, pde, ca, bbc,brs. Free slack (or float): is the amount of time an activity can be delayed after the start of a longer parallel activity or activities. Sensitivity: the likelihood the original critical path(s) will change once the project is initiated. Resource smoothing (or leveling): involves attempting to even out varying demands on resources by using slack (delaying noncritical activities) to manage resource utilization when resources are adequate over the life of the project. Resource smoothing (or leveling) advantages: peak resource demands are reduced. Resources over the life of the project are reduced and fluctuation in resource demand is minimized.